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Alcohol, tobacco industries slam new 'punishing' taxes – The Citizen

Alcohol, tobacco industries slam new ‘punishing’ taxes Siyanda Ndlovu File picture. Shoppers purchase alcohol at Makro in Crown Mines, Johannesburg, on 18 August 2020. Picture: Tracy Lee Stark The industries are already on their knees due to the impact of the alcohol and tobacco sales bans. The South African alcohol and tobacco industry has slammed the 8% increase in excise tax, announced by Finance Minister, Tito Mboweni during Wednesday’s 2021 Budget Speech, saying it will further strain the both industries and drive people towards the illicit market. South African liquor Brandowners Association (SALBA) CEO Kurt Moore emphasised that 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.

More job cuts looming as 8% sin tax further empties battered liquor industry's cup

Getty Images The alcohol industry, which pays an average of R2.5 billion in excise tax every month, has been pleading with government to halt the annual increase this year, saying it would have to take "drastic action" to cut costs.  Excise tax is the largest cost for manufacturers and the industry contributes R172 billion (3%) to the country's GDP. The industry says the 8% increase in alcohol duties will result in tens of thousands of job losses. South Africa's alcohol industry says "tens of thousands" of jobs are on the line, following Finance Minister Tito Mboweni's announcement of an 8% excise tax increase on liquor and tobacco.

Alcohol industry releases data on cumulative impact of three alcohol bans, showing R36.3 billion in lost revenue

Alcohol industry releases data on cumulative impact of three alcohol bans, showing R36.3 billion in lost revenue Friday, 19 February, 2021 FTI Consulting The cumulative impact of the three alcohol bans has put 200 200 jobs supported by the alcohol value chain at risk in the nation's informal and formal economy. An assessment of the economic impact of the three alcohol bans in 2020, including the five-week ban between 29 December 2020 to 2 February 2021, which tracks the cumulative impact on the alcohol industry was completed on 12 February 2021, revealed the damaging financial implications of the Government's prohibition decree. Kurt Moore, CEO, South African Liquor Brandowners Association (SALBA), said that not only is the industry and its people suffering, but the Government itself was experiencing considerable losses to the fiscus. According to the assessment, the tax revenue loss (excluding excise) to the fiscus from the value chain arising from the bans amounted to R29.3 billion (equivalent to 2.3% of tax revenue) and direct excise tax revenue lost across the nation was R8.7 billion (equivalent to 21.2% of excise revenue).

Crippling weekend alcohol sales restrictions 'drying up' liquor trade revenue

Alcohol industry records R36-billion loss due to liquor bans

South Africa's three alcohol bans wiped R52 billion from the economy

The alcohol industry has published a new report detailing how much money the government’s ban on the sale of liquor has cost South Africa’s economy.

Alcohol bans cost liquor industry more than R36 billion in lost sales

Alcohol bans cost liquor industry more than R36 billion in lost sales - study 18 February 2021 6:49 PM wine industry Share This: The annualised GDP loss for SA is almost R52b, according to a report on the bans' economic impact released by alcohol industry. The government lifted South Africa's third ban on alcohol sales this month, but the damage to the economy can't be undone. The liquor industry has reported R36.3 billion in lost revenue due to the prohibition. Tax revenue loss (excluding excise) amounts to R29.3 billion (2.3% of tax revenue). It puts South Africa's annualised GDP loss due to the booze bans at R51.9bn (1% of total GDP measured at market prices).

Wine industry to continue with court case to mitigate possible future alcohol bans

While the first two alcohol bans are said to have led to the closure of 80 wineries and 350 producers, the latest ban has seen more wine farms are on the market and for sale go up. Picture: Ian Landsberg/African News Agency (ANA). Wine industry to continue with court case to mitigate possible future alcohol bans By Tshego Lepule Share Cape Town - Despite the partial lift of the alcohol ban, a wine organisation is forging ahead with a court application to pre-empt the impact of future bans as the industry faces years of recovery from the financial blow. Vinpro approached the Western Cape High Court on January 27, with an urgent application to lift the ban on the sale of alcohol and was due to have the matter heard this Friday.

Flourishing illicit trade in liquor and cigarettes is g...

Daily Maverick 168 weekly newspaper. South Africa is experiencing an exacerbation of illicit trade at a time when the economy is at its weakest.  “Unemployment is at 31%, poverty levels are more than 50%, youth unemployment is higher than 50% and our inequality levels in society are the most unequal in the world. When you add illicit trade to that picture, the situation is increasingly dire,” said Busi Mavuso, chief executive of Business Leadership SA. She was speaking at a webinar organised by Business Leadership SA on illicit trade.   Mavuso said the ban on tobacco alone translated to a loss of R35-million a day for the fiscus. “Our national budget deficit is more than R350-billion. With businesses closing down and thousands of job losses, South Africans are looking at government to assist with stimulus packages to help businesses rebuild and survive. In that environment, the loss of fiscal revenue and tax revenue could not have come at a worse time.”