Angola: Implementation of VAT forces Castel to increase beer prices

Groupe Castel will hike prices of its beers by 9% due to the implementation of VAT in Angola, CEO Philippe Frédéric was quoted as saying by Mercado on June 27.

The company is forced to increase prices as production costs will grow because of the new tax, he said.

Currently consumption tax on beer in the country is 30%, said the company, which produces such popular in Angola brands as Cuca, Nocal and Eka.

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