FOR IMMEDIATE RELEASE

March 8, 2024

Toronto— Canadian Revenue Agency published notice of an excise tax increase of 4.7% effective April 1, 2024. Today, the Beer Store launched a consumer awareness campaign in all its stores province-wide regarding this beer tax increase.

“TBS believes it is important to tell our customers of the Government of Canada’s decision to increase beer taxes by 4.7% on April 1,” said Roy Benin, President, and CEO of The Beer Store.

With consumers seeing higher prices on daily purchases, The Beer Store wants consumers to be aware of the increase in beer taxes and its potential effect on retail prices.

Under Canada’s Excise Act, excise tax increases every year based on inflation. Given persistently high inflation levels, this year’s increase will be the biggest in 40 years. Last year, the Government of Canada capped the excise tax increase at 2%, in line with the Bank of Canada’s CPI target.

“We applaud the Ontario government’s announcement of a two-year freeze on provincial beer taxes,” said Benin. “We urge the Government of Canada to implement a similar freeze, beginning with not increasing the excise tax planned for April 1 or, at a minimum, impose a 2% cap.”

In Ontario, typically, 43% of the retail price of beer is provincial and federal taxes.

FOR MORE INFORMATION CONTACT: mediainquiries@thebeerstore.ca

About The Beer Store Owned by Ontario-based brewers, The Beer Store is the largest beer retailer in Ontario. The Beer Store listed 1,107 brands, which more than 267 brewers provided in 2023. Operating on a self-sustaining break-even cash flow basis, The Beer Store has a completely open system that allows any brewer worldwide to sell its brands in any store they choose, with over half of the brewers listed being small Ontario brewers. The Beer Store is deeply committed to responsible sale and not selling to minors and people who are intoxicated. More than 1.5 million customers were challenged in 2023 alone. It is also one of the greenest retailers in the world annually collecting for reuse and recycling over 1.6 billion beverage alcohol containers, including beer, wine and spirits. The Beer Store employs 6500 hard-working Ontarians with well-paying full- and part-time jobs.

The Beer Store has updated its images and background information catalogue for media use. When you click on the store images link, you can download a folder of store photos that you can use.

The link is located here: https://www.thebeerstore.ca/about-us/contact-tbs/store-images/