Renegotiation of Mortgage Loans: Beginning Of the Year Favorable

 

 Competition and competitiveness of banks, stable demand for real estate loans … The market is conducive to renegotiation.

According to the Crédit Logement / CSA Observatory , rates had already fallen by an average of 0.05% between December 2015 and January 2016, regardless of the duration of the loan.

But renegotiation is all the more interesting for loans taken out before April 2014, when interest rates were lower. First-time buyers having set up their loan before that date are likely to be more and more represented in the share of renegotiations made.

 

Falling interest rates, the main reason for renegotiating

Falling interest rates, the main reason for renegotiating

Rates continue to fall, it’s a fact. The reasons are multiple:

  • the ECB (European Central Bank) maintains its support for the real estate market, be it new, old or rental investment,
  • banks want to keep their production at the same level as in 2015,
  • inflation does not go away.

Naturally, borrowers have a real interest in renegotiating their loan under these conditions .

It should also be noted that it makes it possible to reduce the monthly payments or to reduce the duration of the loan if the incomes of the borrower increase.

Do not forget what makes renegotiation an interesting operation

Do not forget what makes renegotiation an interesting operation

Thus, all seers are green so that borrowers can renegotiate their home loan in an advantageous way. But for a successful renegotiation, it is always necessary to measure the balance of power between:

  • the rate currently borrowed by the borrower,
  • the amount remaining to be repaid,
  • the remaining repayment term,
  • the conditions that the operation allows to obtain.

Finally, we must keep in mind the causes of a possible reversal of the situation.
Although nothing announces such developments, if the ECB changed monetary policy and, or the rates posted by the banks went up globally as in July 2015, renegotiating would be less valid.

Recall that the real estate market is doing well as a whole

Recall that the real estate market is doing well as a whole

  • the Pinel scheme , which makes it possible to deduct part of the purchase price of a dwelling on the condition that it is rented, is valid until at least 31 December 2016,
  • conditions for access to PTZ (zero interest rate loan) have been relaxed ,
  • real estate prices are stable.

On the borrower side, household confidence has improved according to INSEE (National Institute of Statistics and Economic Studies). Households are indeed more likely to consider that it is currently appropriate to make significant purchases, including through increased purchasing power.


Stop Getting Scammed On Credits! – Finances

 

 

1) The file fees

 

The processing fees allow the lending institution and / or the broker to be paid. They vary from one institution to another and capped at around € 915.
They are capped at 450 € for a PAS and a PC.
They are void for an ELP and a 0 rate loan.
If the loan offer is refused, the client does not have to pay the handling fees.

The fees are negotiable, especially if you have a good record.
However the most important element of your loan offer is the TEG (Global Effective Rate). This one is obligatorily present on your loan offer is included the expenses of file. It is he who will tell you all costs included, what is the most interesting offer.
When negotiating, you have to set priorities.
If you win on the fees but lose on the rate, you will not necessarily be the final winner.
Choose your priorities: lowest rate, or early repayments without penalty or negotiation of fees.

2) Allowances

2) Allowances

This is for the financial institution that loaned you to pay a penalty in case of early repayment of credit (You had done for twelve years and you want to pay after 7 years)
The penalties for early repayment with the lending institution are 6 months of interest capped at 3% of the outstanding capital. Details on the prepayment are mentioned in your loan offer.
However for loans from 26/06/1999, the law prohibits the payment of penalties in case the property is sold following:
• a professional transfer,
• unemployment of one of the borrowers,
• death of one of the borrowers.

In the case of a capped adjustable loan, there should be no penalties for early repayment. However, it is necessary to check the clause in the contract.

Repayment benefits may be negotiated to be exempt. In the event of a win-win relationship, negotiate the penalties only if you think that actually during the term of the loan you will have to pay in advance. If not, point out that you are not negotiating penalties and focus on other points.

3) Insurance

3) Insurance

Loan insurance is mandatory and covers death and total and final disability. This insurance, required by your credit institution, is intended to protect your heirs who will be relieved of the burden of refunds in case of problems. It may also cover temporary incapacity for work or unemployment, these guarantees being optional. In concrete terms, in case of a problem, it is the insurer who takes over to repay your credit institution what you still owe him.

The rate of credit offered by your organization depends on the markets and also fluctuates depending on the banks. However, most often it incorporates the cost of insurance … A few tenths of a point less can make you realize significant savings or allow you to borrow more capital. Do not hesitate and compare!
Any mortgage offer must mention that if the death insurance disability (death cover, IAD, ITT, IPT, unemployment) may be required by the lender, the borrower has the choice of insurance.
The savings on the insurance is not negligible it can reach 50% compared to the organization where you have subscribed your credit is up to 7000 € of saving for a loan of 100000 € (loan over 30 years) .

4) he amount of the monthly payments.

4) he amount of the monthly payments.

The amount of the monthly payments of a mortgage or a consumer loan or a repurchase of receivables is an essential parameter before any act of purchase or subscription of a loan.

The life of a loan is governed by the monthly repayment deadlines due to creditors (credit organizations, banks). The amount of monthly payments must correspond to your income and financial means: it must not exceed a certain heading or ceiling. Your debt ratio must remain below 33%.

Consumer credit monthly payments:
Consumer loan payments are often high since the repayment term does not exceed 7 years. The higher the amount of the personal loan, the longer the monthly maturities. The monthly installments of money reserves and other revolving credits are quite low because the amounts borrowed are low. The interest rates for this type of credit are high: around 20% teg (close to usury rate).

Real estate loan :
The mortgage is a special loan because its duration is long: the repayment can be spread over 30 years, or 40 years almost a lifetime to pay debts. Before signing any loan agreement, check that your real estate investment is the best possible: fixed or variable interest rate or revisable, capped or uncapped, file fees, duration of the loan, mortgage or unsecured mortgage, monthly installments, prepayment fees? So many questions and questions to find a solution and answer.

 


Records of Intra-Community Operations of Your Business

 

 

Intra-community operations are all those that, as an autonomous person, maintain exchanging goods, products or services with other companies outside Spanish territory . To facilitate the payment of taxes, the State Agency for Tax Administration authorized the Registry of Intra-Community Operators (ROI), with which you are granted a Tax Identification Number (NIF) so that you can be exempted from the Value Added Tax (VAT)

The electronic procedures offer you the possibility to render the accounts of your business in a totally automated way, for which, you must have your registration, after being registered in the System of Exchange of information on VAT (VIES).

As a taxpayer, complying with these requirements, you can establish a business relationship with companies and suppliers from member countries of the European Union that are also registered in the Registry of Intra-Community Operators, as it is the only way for VAT to not affect you greatly.

And it is precisely to monitor the operations of all companies that work in its territory, the European Commission makes the crossing of data and keeps all administrations up to date, with online systems that allow you to verify if the company to which you you buy or sell some product is registered.

If you plan to start commercial operations abroad, request the registration of this register by submitting form 036 with all the necessary information to support the type of economic activity you perform, in this way, you are assigned the NIF-VAT. For this procedure, you must have all your invoices and proof of payment at hand.

Likewise, you must present the model 349 , which is the recapitulative statement of intra-community transactions, you can do it annually or quarterly , as long as it is in the reference period and the four quarters prior to the relationship between goods and services is not above 50 thousand euros (without VAT).

If you want to do it annually, keep the following in mind:

-The deliveries of goods and services of the previous year should not exceed 35 thousand euros.

-That the total amount of intra-community deliveries (of exempt goods) made during the previous period does not exceed 15 thousand euros.

-The quarterly form or model 349 must be submitted between April 1 and April 20, July and October , while the last quarter between January 1 and January 30 of the following year, the same applies to the annual model 349.

-The monthly model 349 must be submitted between the 1st and the 20th of the month following the end of the period, except for July, which is until September 20 and December until the 30th of the following year.

If at the end of a quarter you exceed 50 thousand euros, you must enter the model 349, attaching the supports of the operations carried out – in detail – during the elapsed period. If you exceed this amount in the second month of the current quarter, you must submit a monthly statement, attaching also the corresponding operations, specifying with a note that it is a closed quarter.

 

Billing procedures

Billing procedures

The Value Added Tax (VAT) on invoices depends on whether you are the issuer or the receiver.

Transmitter

If you are a taxpayer, billing is subject to different contexts:

Both have an intra-community NIF: In the first case, if both companies that maintain the commercial relationship have an intra-community NIF, they will issue an invoice to their client without VAT, because the two organizations operate with a fiscal number that does not belong to any country in specific.

This evidently is supported by the model 303 of VAT and 349. The Treasury is the entity that is responsible for comparing the forms of the two companies, verify that everything is legal, correct and that there are no inconsistencies.

If you have an intra-community NIF but your client does not: On the other hand, if you have an intra-community NIF and your client has not registered, you will have to make an invoice with VAT, but your client will pay the tax, while you will only pay in the Model 303, making the respective proviso. If the client is constant, it may be necessary to obtain the intra-community NIF.

You do not have NIF but your client does: In this case you must issue your client a VAT invoice, because you have to declare it in your country, but he is the one who pays it and you simply liquid before La Hacienda at the end of the quarter. Always remember to keep track and chronological order of all invoices.

Neither of them has NIF: Here a VAT invoice is issued, without reflecting the Income Tax of Individuals (IRPF). It is settled at the end of the quarter.

Receiver

If you are a recipient taxpayer, you can get the following scenarios when hiring an external service or purchasing an external product:

Both have an intra-community NIF: The invoice is issued without VAT.

You have NIF but your client does not: You must cancel the VAT of the country that corresponds.

You do not have NIF but your client is registered: He must issue the invoice with VAT but you will be the one who pays it.

None have NIF: In short, both must pay taxes.

intra-community deliveries of goods and services

Formats to declare

Formats to declare

Model 349

It is a format established by La Hacienda, in which an independent company or autonomous entity carries out intra-community activities and reports them to the Tax Agency with each of its supports. You can submit it monthly, quarterly or annually , according to the point explained above, subject to an amount of no more than 50 thousand euros.

Model 303

Everything annexed to model 349 is also added to format 303, giving special attention to boxes 59, 60 and 61, which correspond to intra-community operations.

Model 340

It is primarily intended as an informative chapter and is a mandatory requirement for all companies registered in the VAT Return Regime (REDEME). As a taxpayer, you must present the registration book with all invoices for intra-community transactions, along with the book of investment goods, deliveries, acquisitions and other import supports.

VAT refund

Registered in the REDEME, to request the VAT refund you must comply with the following requirements:

-Make the process directly at the Electronic Office of the Tax Agency . Activate your certificate or electronic ID.

-You must be up to date and subscribed in the Electronic Direction Enabled (DEH). This procedure can be done through the Electronic Notification Service


Real Estate Loan, Interest Rate Harden

 

Interest rates harden, the conditions of granting too.

Interest rates harden, the conditions of granting too.

If, for about six months, one-third of banks saw an increase in demand for home loans, this trend stopped in October.
Borrowers were able to see a slight increase in interest rates in October after a first increase in January. This finding can be made regardless of the duration of the loan. You can also follow the evolution of rates thanks to the CID index , it is free and updated every month according to the scales provided by our partner banks.
After such a long fall in mortgage rates, it seemed inevitable to see a rise. But what is more worrying is to see at the same time, a slight tightening of the conditions for granting loans on the banks’ side. Realize your real estate project in the best conditions
Not only have interest rates increased, but banks have also hardened their criteria for granting a loan to a client. It is necessary to have a significant contribution to become an owner given the criteria for granting loans. This was already the case in the past, but the fact tends to generalize.
In order to reduce the impact of rising Bill Sikes rates in July and October, borrowers are now moving towards floating rate Bill Sikes , which accounts for about 8% of mortgages.
The hardening of the award criteria can be seen only for home loans and can not be met in other types of loans, such as consumer loans for example.
It should be pointed out that, even if interest rates rise, they are still very interesting compared to the rates applied by the bank in the past.

Your interest: bargain tight!

Your interest: bargain tight!

If the increase in interest rates went from 2.86% to 3.05% for the purchase in the old and 2.90% to 3.07% (over 15 years) for this Regarding the purchase in the new, the overall cost of mortgages decreases.

In concrete terms, according to our colleague, Empruntis, today buying real estate costs on average 220 000 euros, an increase of 60 000 euros compared to 2004. The average age of the borrower is 37 years against 34 years in 2004 and he must have a substantial contribution of at least 50,000 euros. To meet the “ideal” banking conditions to acquire real estate, you need to earn 4,500 net euros per month per household. The conditions for granting a home loan therefore tend to make home ownership more and more difficult, especially for young couples.

It is with this in mind that the help of a mortgage broker will benefit you. This is our job. Crédit Bill Sikes Bill Sikes defends and negotiates with the largest French banks requests for financing of thousands of French individuals, for more than 10 years. You can submit an application on our site, thanks to the small orange form in the right column.
Statistics is good, but compare your project to reality and achieve it with a specialist, it’s better!


Personal Loans | Product review

A loan that is easy and quick to obtain is that of Volana. This is a microloan that goes from $ 1,000 to $ 6,000 pesos that you can get in 24 hours.

When deciding on Volana to obtain a loan, you have the opportunity to get up to $ 6,000 that you will have to pay in 30 days with the great advantage of not having to pay interest to be your first time with them.

You are interested if

You do not have enough money to pay the bills and you are not looking for something that commits you financially. With Volana, you choose the term and for the first loan, what you request is what you pay.

 

Key points

Short description The personal loans of the Mexican company Volana consist of fast microloans that provide you in a short period and without much paperwork up to $ 6,000 pesos so that you pay them in a maximum period of 30 days.
Limits and deadlines With Volana personal loans, the limit of money you can request is $ 6,000 pesos, although while you are during the loan period, Volana gives you the possibility to request an additional amount. In terms of terms, the available loans can not be less than 7 days or greater than 30 days.
Acceptance times Once the application is submitted, the time to wait to have the money depends on the way in which we choose to receive it. Normally, the company responds between 24 hours and choosing bank transfer, money can be had immediately after approval. If you decide to receive it in cash, the money will be available 12 hours after it has been approved.
CAT Calculated for a loan of $ 6,000 to 30 days, the average CAT without VAT is 3564.4%, which applies to customers who have already processed a loan with Volana before.
How to hire it In its portal, there are different methods to get in touch with the company in case there are doubts, but the only way to process these microloans is to fill out the application online.
Main requirements Be a Mexican citizen, be between the ages of 20 and 65, have proof of income, have a telephone number and an email.

 

Information about Volana personal loans

Information about Volana personal loans

Main features

Volana offers a quick, effective microloan that adapts to your lifestyle. The maximum amount of our loans is $ 6,000 pesos (for existing clients) and $ 2,500 pesos for new clients, always with a term of up to 30 days.

Other advantages offered by this product:

  • The first loan is without any interest.
  • The loans are accessible from anywhere in Mexico, only an Internet connection is required.
  • Services are available 24 hours a day, 7 days a week.
  • Registration is easy and fast. In less than 5 minutes, the company will give you an answer to your request.
  • Personal data is completely confidential and is treated with maximum security.
  • The transfer of money to the client’s account is done on working days.

How do they work?

How do they work?

As mentioned above, in order to process Volana’s personal loans, the most important thing is that you have an internet connection that allows you to access your online portal.

Making the application for a Volana loan is very easy: you only need to fill out the form online and in moments we analyze the requests and respond. All applications are subject to the terms and conditions of the loans. The process itself consists of three steps, which will be detailed below:

  1. Choose an amount and term in the simulator, then press “REQUEST NOW”
  2. Continue filling out the registration form. Do not worry! We are going to ask you several questions regarding your personal and banking information. This information is extremely important to be able to give you the loan quickly and safely – all information is confidential and will only be used to validate your loan.
  3. After providing all the information requested, wait a few moments for our confirmation. If the application is approved, you will be informed in your profile on Volana.com.mx and also by email and text message.

Once you are already registered with the platform, the following loans will be even simpler, since all you have to do is enter your account, and choose the amounts and terms of your new loan. On the other hand, if there are any doubts, Volana’s assistance and customer service is always available and they make several contact forms available to the person.

It is worth noting that, unlike other companies specializing in fast financing, Volana loans can be received in two ways: 1. By transfer, directly to the bank account through the use of CLABE or debit card number, with the money being available in minutes once the loan is approved, or in cash, through the nearest branch of Volana’s banking partners, in which case the loan amount will be effective 12 hours after approval.

Flexibility and accessibility are two of the characteristics that can most be related to Volana personal loans. Therefore, for the return of the loan, people have a wide variety of payment options, among which are:

  1. Through PAYCASH in Soriana stores, Comercial Mexicana, 7Eleven, Extra, CircleK, Bodega Aurrera, Walmart, SAM’s Club, Superama and OXXO. This method consists of going to any of these stores (ideally the nearest one), presenting the reference number that Volana will send by email. It is important to note that a reference number must be used for each payment.
  2. For those people who always have a lot to do and do not give them the time to stand in line or wait a long time, payment by debit card is the best option. In this sense, Volana will send a link, which will be personalized and with which you can capture the data so that you can make the loan payment.
  3. Payment in bank account of the following banks: Inbursa and CI Banco. Equally, the important thing is to keep in mind the account number / agreement and the reference to be able to carry out the deposit.

The payment can also be made before the loan is due with any of these methods. There is no penalty for doing so and only accrued interest would have to be covered until the date you wish to pay.

Continuing with the two characteristics most closely related to these microloans, Volana presents the ability to its clients to restructure the loan term. It may be that a situation arises that causes things not to go according to plan, so this option is extremely useful. Through restructuring, one can choose a new due date and thus have more time to make the payment. The terms available for restructuring are of 7, 14 or 30 days.

Similarly, in unfortunate scenarios that arise, sometimes changing the date when the loan is due is not what is needed. The amount required to resolve the situation is likely to increase and online lenders dedicated to microloans offer applicants additional money only after the current loan has expired.

Luckily, by being registered in Volana, people have the possibility of requesting an additional amount to the existing loan. In this sense, the lender makes an automated review of the person’s data and will indicate in his profile the amount that is available. This is an option that all Volana users can take advantage of as many times as they wish until the maximum allowed by the credit line is reached. When making use of this option, the initial credit and the additional amount will be combined in a single loan maintaining the same term as that of the original application.

What do I need to obtain a loan with Volana?

What do I need to obtain a loan with Volana?

To start the process of hiring Volana personal loans, there are certain conditions and requirements that must be met, among which are:

  • Be a Mexican citizen
  • Be between 20 and 65 years old
  • Be an employee or independent professional with regular income
  • Have a cell phone and an email
  • Complete all the information required in the loan application
  • Choose the form to receive your money that, as we mentioned previously, can be in a bank or cash account

In addition to this, the person is required to upload a selfie holding the elector’s credential and the image (front and back) of their official identification (IFE / INE), in image format, be JPG, PNG or any other another, not PDF. This can be carried out through the profile in Volana.com.mx portal or it can also be sent to the email address specified for it, documentos@volana.com.mx. At the moment, the only official identification accepted by the lender is the voter’s credential. Although it is very rare, there are cases in which an image of the bank account statement must be submitted, for which Volana will contact one.

conclusion

conclusion

The main objective of Volana is to offer to all people in Mexican territory, an alternative financing that is easy, fast and responsible to obtain and with which they can cover any unforeseen event. With this vision in mind, this is a company that is working every day to give exceptional treatment to all its customers, maintaining at all times the main pillar of its service, transparency.

The financial product they offer, in itself, is more dedicated to those people who have never applied for a loan before. The interest generated by the loans can be very high, having a great impact on the budget and financial planning of a person and if the loan is something that is needed for a very specific reason, the most convenient thing is what Volana offers. in his first loan, the possibility of paying only what is requested.

The company: Volana

 

Volana is one of the two financial companies in Mexico that are part of the 4finance group, which began its journey in Mexico on November 16, 2015, being part of one of the world’s leading microloan companies.

Currently 4finance Group offers services to clients in 17 countries: Poland, Sweden, Denmark, Finland, Czech Republic, Bulgaria, Romania, Armenia, Georgia, Lithuania, Latvia, Spain, Mexico, Dominican Republic, United States, United Kingdom and Argentina.

To date, 4finance Group has granted more than 11.5 million microloans in the world and in Mexico, they have become an extremely popular lender.

Opinion about this product

 

Among the advantages and disadvantages that we noticed when we analyzed the loans offered by Volana, we saw that this is a highly recommended product for those who do not have a very high credit need.

On the positive side, there are three factors that lead us to give a good opinion of these microloans. First, there is the 0% interest rate for the first loan. Second, the ability to restructure the payment so that the loan lasts longer and can have more flexibility. Finally, being able to request additional amounts to the loan that has already been hired gives one the ability to always be prepared in cases that aggravate the situation in our hands.

On the other hand, we think that limits in terms of credit and terms are negative aspects. Many companies establish a maximum amount and period for the first loans, but they give the ability to increase it as the payment capacity is checked, while with Volana you can only obtain the $ 6,000 pesos at 30 days


Renaissance Credit – Cash Loan or Credit Card

 

One of the best banks for those who want to get a cash loan on the same day. Consideration of the application within a few minutes. Ability to take out a loan without income certificate . Instant cash on hand. Profitable interest rate – from 12.9% per annum. Renaissance Credit Bank offices are open in all major cities of Russia, including Moscow and St. Petersburg.

All bank products

 

Cash Loan in Renaissance Credit

Cash Loan in Renaissance Credit

Main advantages

  • Making a loan for two documents.
  • Receiving money on the same day.

Conditions for obtaining a loan

  • Interest rate – from 11.3% per annum.
  • The amount is from 30,000 to 700,000 rubles.
  • Term – from 2 to 5 years.

Requirements for borrowers

  • Age – from 24 to 70 years.
  • Documents – passport and second document (driver’s license, passport, personal bank card, diploma, military ID, TIN or pension certificate).

Apply for a cash loan and get a response from the bank in 5 minutes →

Credit Card at Renaissance Credit Bank

  • Card issue and service for free
  • Credit limit up to 200 000 rubles
  • Receipt on the same day
  • Card issue for free.
  • Annual card service – 0 RUB

Apply for a credit card in 5 minutes →

Renaissance Credit is a commercial bank that provides individuals with the opportunity to take out a consumer loan, bank card, deposit and use other additional services. The organization has 136 branches in 62 regions of the country, serving 139,966 outlets.

Bank ratings for September 1, 2018:
50th place in capital.
48th in terms of net assets.
23 place in terms of attracted funds of citizens.
13th place in terms of consumer loans.

The Renaissance Credit Bank’s regular partners are: Svyaznoy, Euroset, M.video and Shatura Furniture. Used payment details – rubles, dollars and euros. The scope of bank services provisionally divided into 3 areas:

  1. Loans;
  2. Contributions;
  3. Cards.

In the first direction, the service “Credit when lit” is relevant. According to it, the client can apply for a loan of up to 700 thousand rubles for large investments or urgent ones. For reliable customers who are able to prove their solvency, the bank provides flexible rates. Credit funds can be obtained on the same day, going to the office of the organization or filling out an application online. And thanks to the “Convenient” service package, the borrower can transfer the planned payment or change its date.

Issue “Credit when lit”

Lending to the population

In lending to the population there are also additional services:
A loan for furniture and household goods with an overpayment of 0.7%.
Credit on a mobile phone with registration in the communication salon in 15 minutes.
Credit for household appliances with the possibility of making any size of the initial payment.
Online lending with registration, without leaving home, and overpayment of 0.8%.

Deposits and deposits of the Bank Renaissance Credit

In the direction of deposits, funds can be invested on five different conditions, each of which has high interest rates, management of deposits in the network and the choice of the best way to get the accumulated interest. You can open a deposit at any branch of Renaissance Credit Bank or via the Internet on the official website of the organization.

Debit and Credit Cards Renaissance Credit

Regarding plastic cards, there are debit and credit analogues in the arsenal. Debit cards are replenished for free from cards of third-party banks, have a bonus program and a return on the balance of up to 7.5%. Monthly maintenance is free, and for registration enough passport. Credit cards have a limit of up to 200 thousand rubles and are available to the client on the day of his appeal. The interest-free period lasts 55 days. When making the next payment by any convenient means, the funds received will continue to be available for use.

 


The Mortgage Producer& Mortgage Does Not Reach the Ministry Excise Tax

In July, the excise duty on beer 70 percent of large manufacturers, small producers of beer excise duty increased by 35 percent compared to the discount, intermediates ERR News.

The largest small brewery producer, Enna Parel, CEO of the Nordic countries, said most of the small producers’ acoustic increases would not increase their product prices. “Sales were not remarkable because the small brewery Beer has historically been more expensive and they do not need those products that may be the first to expand the hand of the young, but he does familiarize himself with alcohol,” he said.

Finance budget chief Sven Cherry said that since stock retailers sell acoustic products to sell their room a bit too early to talk about, but market changes are already visible.

More news portal mortgage ERR.

More news portal mortgage ERR.

Postimees Ott emphasized in the press department of the Ministry of Finance Haywood, with the exception of the brewery pay excise duty at a discount rate, the Ministry of Finance forecast in 2017 a total of about 440,000 euros less than the customs situation point if they apply the normal rate of excise duty.

2018. Estimated volume of support of EUR 580 000. “This year, eight months, according to tax returns for small producers, the excise duty has already won 270,000 euros,” said Heinapuu.

In addition to the loan up to 4,000 euros , he noted that the excise duty on small producers on July 1 this year increased by 70 percent, as well as large-scale tents. On the other hand, this means that small producers will continue to point half (50 percent) of normal excise duty on beer.

“Before the increase in excise duty for small producers, € 4.57 tons of alcohol per 100 liters of beer and after rising at a rate of € 7.76 and the whole level of beer excise tax was before rising to € 9.13 and € 15.52,” said Heinapuu.

In addition, representatives of the Ministry of Finance noted that tax returns under the brewery to produce consumption increased by 19 percent this year, although it can not reflect the sales of each manufacturer.

“The small brewery enterprise’s sales prices remained stable and there was no significant increase in increased excise duties. In the first eight months of 2017, reduced beer consumption increased by 19 percent compared to the same period last year, ”said Heinapuu.

Most of the growth is particularly important in the summer months: the increase in June was declared at 54 percent in July and August at 17 percent to 4 percent. In June, partly explain the amount of excise duty before the collection, but in July and August, showing that the decline in the price difference due to consumer preferences has shifted in favor of small producers and their market share has increased.