MP LOBB`S BILL C-232 UP FOR DEBATE TODAY
OTTAWA, ON – April 22, 2016, in the House of Commons, Ben Lobb, Member of Parliament for Huron-Bruce, will debate Bill C- 232, An Act to Amend the Excise Act, 2001 (Spirits) during its second reading. Lobb’s Private Member`s Bill aims to reduce Excise Tax rates for spirit distillers in Canada.
The proposed legislation would set the Excise Tax rate to $6.00 per litre of absolute ethyl alcohol for the first 100,000 litres of production and $11.00 for all production past 100,000 litres.
"Lowering the tax rate for distilleries will increase production and revenue, jobs will be created and more Canadians will be employed. The benefits of lower tax rates are not limited to distillery industry, Canadian farmers will benefit from increased sales of alcohol`s main components, corn, wheat, barley and rye. The Conservative Party continues to work hard to reduce taxes for Canadians and help foster development in various sectors of our economy ", said MP Lobb.
Currently all distilleries, regardless of size or production output are taxed at the same rate of $11.696 per litre of absolute ethyl alcohol. Lowering the Excise Tax rate will allow for the Canadian Spirit Industry to become more competitive on an international scale and allow for investment into new technologies.