![Vinbudin](https://upload.wikimedia.org/wikipedia/commons/9/93/Vinbudin.JPG)
The State Alcohol and Tobacco Company of Iceland (ÁTVR) is a
state owned
State ownership, also called government ownership and public ownership, is the ownership of an Industry (economics), industry, asset, or Business, enterprise by the State (polity), state or a public body representing a community, as opposed to a ...
company that is the
sole legal retail vendor of alcohol in
Iceland
Iceland ( is, Ísland; ) is a Nordic island country in the North Atlantic Ocean and in the Arctic Ocean. Iceland is the most sparsely populated country in Europe. Iceland's capital and largest city is Reykjavík, which (along with its s ...
.
It runs a chain of 51 retail stores named Vínbúðin ''(the wine shop),'' known colloquially as Ríkið (The State)''.
'' In addition it distributes
tobacco
Tobacco is the common name of several plants in the genus '' Nicotiana'' of the family Solanaceae, and the general term for any product prepared from the cured leaves of these plants. More than 70 species of tobacco are known, but the ...
to other retailers and assesses and collects
tobacco tax.
Iceland has very high
taxes on alcohol to curtail consumption and as a government revenue source. Tax rates are proportionate to the
alcohol content
Alcohol by volume (abbreviated as ABV, abv, or alc/vol) is a standard measure of how much alcohol (ethanol) is contained in a given volume of an alcoholic beverage (expressed as a volume percent). It is defined as the number of millilitres (mL) o ...
.
The state run company is under the
Ministry of Finance A ministry of finance is a part of the government in most countries that is responsible for matters related to the finance.
Lists of current ministries of finance
Named "Ministry"
* Ministry of Finance (Afghanistan)
* Ministry of Finance and Ec ...
.
See also
*
Alcohol monopoly
An alcohol monopoly is a government monopoly on manufacturing and/or retailing of some or all alcoholic beverages, such as beer, wine and spirits. It can be used as an alternative for total prohibition of alcohol. They exist in all Nordic countr ...
*
Prohibition in Iceland Prohibition in Iceland went into effect in 1915 and lasted, to some extent, until 1 March 1989 (since celebrated as "Beer Day"). The ban had originally prohibited all alcohol, but from 1922 legalized wine and in 1935 legalized all alcoholic beverag ...
*
Beer in Iceland
References
External links
Vínbúðin's website
Alcohol monopolies
Food and drink companies of Iceland
Tobacco in Iceland
Alcohol in Iceland
Retail companies established in 1961
1961 establishments in Iceland
Government agencies of Iceland
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