19-April-2024
Economy News
 
Price of vice: Norway may cut in sin tax on alcohol, sugar to spur spending
26-Sep-2020

HALDEN, Norway (Reuters) - Norway's tipplers and sweet tooths may no longer feel a need to leave the country to stock up on their favourite vices. The Nordic country's ruling party has proposed cutting its famously high "sin" taxes on alcohol, cigarettes and sweets and other consumer goods after the coronavirus lockdown showed how much business is lost every year to Norwegians flocking to neighbouring Sweden to snap up such items at cheaper prices. Restrictions on travel between the Nordic neighbours imposed to contain transmissions of the coronavirus triggered a jump in retail sales, especially in regions bordering Sweden.

News Source:- https://www.business-standard.com/article/international/price-of-vice-norway-may-cut-in-sin-tax-on-alcohol-sugar-to-spur-spending-120092600232_1.html