More Job Cuts Ahead As 8% Sin Tax Further Drains The Cup Of The Battered Spirits Industry | End24
South Africa’s liquor industry pays R2.5 billion a month in excise duty
- The alcohol industry, which pays an average of R2.5 billion in excise taxes each month, has been asking the government to halt the annual increase this year, saying it would have to take “drastic measures” to cut costs.
- The excise tax is the largest cost to manufacturers and the industry contributes R172 billion (3%) to the country’s GDP.
- The industry says the 8% increase in alcohol taxes will result in tens of thousands of lost jobs.
South Africa’s alcohol industry says there are “tens of thousands” of jobs at stake, following Finance Minister Tito Mboweni’s announcement of 8% …