After sin tax, alcohol sales drop

Ginebra San Miguel Inc, the beverage arm of diversified conglomerate San Miguel Corp, experienced a 30% drop in volume sales after the government implemented a higher excise tax on alcohol products. “Our beer and hard liquor business, we were greatly affected by the recent tax increase,” said COO Ramon Ang. The tax reform law took effect last January. In 2012, Ginebra, which is a subsidiary of San Miguel Brewery Inc, saw a drop in domestic volume of 5% from a year ago. The company sold 19% more volume for its flagship brand Ginebra San Miguel.

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