Worthy Park Estates, which produces Rum Bar Rum, has announced that it has increased the price of its white overproof rum by 5% -7% percent, with immediate effect.
The company said the increase is to pass on the higher taxes that are now being paid on alcohol in white overproof rum.
With the increase, the price for a drink of Rum Bar White Overproof Rum goes from J$60.00, to $70.00.
The announcement of a higher price for Rum Bar Rum follows a similar announcement by J Wray & Nephew for its white overproof Rum.
J. Wray & Nephew announced tht its rum price will increase by 12.5%. The increase will take the price of a drink of J Wray and Nephew White Overproof Rum to $90.00.
Both companies have increased the price of their white overproof rum, after the government standardised the Special Consumption Tax (SCT) on alcohol.
The standard rate for SCT on alcohol, which took effect on Tuesday day, taxes all liquor, at a rate of $1,120.00 per litre of pure alcohol.
White overproof rum previously had a lower SCT rate of 960 per litre of pure alcohol.
The tax is aimed at raising 844 million dollars for the government.
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