| VILNIUS, March 21 (Reuters) - The Lithuanian government said
on Wednesday it had increased the refined sugar import quota
for the local arm of U.S. Coca-Cola Co (NYSE:KO - news),
allowing the firm to import 1,500 tonnes of sugar in 2001 with
no duties.
A government press official told reporters after a cabinet
meeting that the tax break was issued because none of the
local sugar producers could match product quality.
Coca-Cola Bottlers Lietuva -- owned by Coca-Cola Export
Corp, a division of Coca-Cola Co, -- was permitted to import
1,200 tonnes of sugar tax free in 2000 as part of a deal to
attract more investment into its Lithuanian operations.
Lithuania charges an import tax ON refined sugar from
European Union countries of least $420 per tonne. |