Wine, Liquor and Alcoholic Beverages
If you are in Wine, Liquor and Alcoholic Beverages, Your Local Accountant has the right support for you. we have many years’ experience in the Wine, Liquor and Alcoholic Beverages industries, covering the process of importation, distilling/manufacturing, wholesales, retails and wine exports.
This industry has lots of specific compliance requirements and excise and tax apply to it. If your business involves on importation, warehouse and wholesale, you will need to consider the importation licence, custom excise, deferred GST Scheme, WET, Nature 10, 20, 30 declarations and reporting circles, bonded storage arrangements, etc.
If your business is in distillery and manufacturing of Wine, Liquor and Alcoholic Beverages, you will need to consider manufacturing licence, liquor licences, licenced warehouse or bonded areas, site fit-outs including council approvals (if applicable), safety compliance, specific waste and water management/ disposable system, and may even need the Positive Pressure Ventilation (PIV) in the filling/production room to satisfy the food manufacturing hygiene standards. Staff education, machinery and special purpose vehicle training and Hazard Controls are also critical. There are also specific labelling rules apply to all alcoholic drinks, ie, alcohol types, strength and equivalent of numbers of standard drinks.
If your business is on the retail side or has a cellar door, you will need to have the liquor licence and Responsible to Service Alcohol certificates in place.
If you are running the exportation of Wine business, you will need to manage the Licence to Export; understand the target market’s duties and taxes, labelling requirements, and products standards. Understand the import and export trading terms such as FOB, FOB, FIS, etc to balance the cost and risks.
All the above are just some rough indications of what you may need to manage, and for sure there are more; but most importantly, all business operations are measured with the profitability, which driving from the increase in sales and controlling the cost.
We understand the whole business process from both the operational and the strategic level. we are here to help you to correctly capturer all elements of costs, improve the profitability, stay compliance, and make far-sighted decisions to grow your business.