7
11
9
70
Brewing sector
Supplying sectors
Hospitality industry
Retail
11
18
20
6
5
Excise
VAT hospitality
VAT retail
Induced income tax, payroll
tax and social security
revenue brewing sector
Induced income tax, payroll
tax and social security
revenue other sectors
7 | Total value added due to beer
8 | Total government
revenues due to beer
The contribution of the brewing sector to the Cypriot
economy can also be expressed in terms of value added.
The total value-added generated by these 3,910 jobs
is estimated at 96 million euro. The largest contribution
comes from the hospitality sector (70%). Tourism plays
an important role in this.
The government also benefts from the brewing sector
by receiving tax revenues. In 2010 the total revenue
from excise, VAT and income-related contributions due
to beer production and sales have been estimated
to be 60 million euro :
VAT revenue was estimated as 25.8 million euro, the
major proportion being generated in the hospitality sector.
The total excise revenue on beer was 11 million euro.
Income-related revenue due to beer production and
sales are approximately 23 million euro, comprising 5.5
million euro income tax, 4.5 million euro social security
contributions paid by employees and 12.9 million euro
social security taxes and payroll taxes paid by employers.
In 2008 we calculated that the revenues of excise,
VAT and income-related contributions due to beer
production and sales were 48 million euro.
›
Graph 12.4. / Value added due to the production
and sale of beer : 96 million euro
›
Graph 12.5. / Government revenues due to the production
and sale of beer : 60 million euro
›
Source : Ernst & Young calculation (2011)
›
Source : Ernst & Young calculation (2011)
Cyprus
12
81