Investor Presentation December 2011 - United Breweries Limited
Investor Presentation December 2011 - United Breweries Limited
Investor Presentation December 2011 - United Breweries Limited
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Affordability<br />
Excise is highest among BRICs and drives preference for hard liquor<br />
Taxation is significantly higher<br />
than other countries<br />
Taxation of Beer<br />
Beer is taxed significantly higher<br />
than hard liquor<br />
Relative pricing vs<br />
spirits per unit of pure<br />
alcohol<br />
India<br />
Brazil<br />
Russia<br />
Kingfisher<br />
Premium<br />
75<br />
2.6x<br />
China<br />
Bagpiper<br />
29<br />
0% 20% 40% 60%<br />
Excise Duty VAT and other tax<br />
- 50 100<br />
Indicative rates as % of consumer price. VAT is only<br />
levied on value added, so effective rate is lower.<br />
Based on consumer prices in Tamil Nadu
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