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South Africa Tobacco, Alcohol Industries Reject Excise Tax Increment


 

Key stakeholders in the alcohol and tobacco industries of South Africa have rejected the increment in excise tax.

On Wednesday, February 24, 2021,
Finance Minister, Tito Mboweni during the Budget presentation, announced an 8% increase in excise tax.

But stakeholders have opposed the increase.

According to them, the increment will further strain both industries and drive people towards the illicit market.

South African liquor Brandowners Association (SALBA), CEO Kurt Moore, observed that the tax adjustments did not take into consideration a significant increase in the size and efficiency of the illicit market that has grown during the sales bans under the Covid-19 lockdown.

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