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State Alcohol and Tobacco Company of Iceland

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State Alcohol and Tobacco Company of Iceland
Áfengis- og tóbaksverslun ríksins (ÁTVR)
Company typeGovernment enterprise
IndustrySale of alcohol and tobacco
Founded1961; 64 years ago (1961)
HeadquartersReykjavík, Iceland
Key people
Ívar J. Arndal, president
Websitevinbud.is
Branch of Vínbúðin (ÁTVR) in Seyðisfjörður.

The State Alcohol and Tobacco Company of Iceland (ÁTVR) is a state owned company that is the sole legal retail vendor of alcohol in Iceland.[1] It runs a chain of 51 retail stores named Vínbúðin (the wine shop), known colloquially as Ríkið (The State).[1] In addition it distributes tobacco to other retailers and assesses and collects tobacco tax.[1]

Iceland has very high taxes on alcohol to curtail consumption and as a government revenue source. Tax rates are proportionate to the alcohol content.

The state run company is under the Ministry of Finance.[1]

See also

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References

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  1. ^ a b c d "Hlutverk og stefnur". Vínbúðin. Retrieved 2020-02-26.
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Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/State_Alcohol_and_Tobacco_Company_of_Iceland
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