 |
Angola
Botswana
Malawi
Mozambique
Namibia
South Africa
Zimbabwe
Cote D'Ivoire
Ghana
Nigeria
Kenya
Uganda
Tanzania
Mauritius
Seychelles
Algeria
Egypt
Morocco
Zambia| Press offices |
Taxation news Bad news for smokers and drinkersIt's bad news yet again for drinkers and smokers‚ but certainly not unexpected news as the annual rise in so-called "sin taxes" is as predictable as the sunrise.
Excise duties on tobacco products are determined in accordance with a targeted total tax burden (excise duties plus VAT) of 52% of the retail price. For wine‚ clear beer and spirits‚ the targeted tax burdens (excise duty plus VAT) are 25%‚ 35% and 48% respectively. This year sees excise duties on sparkling wine rise by 10% to R8.28/litre‚ unfortified wine by 8.0% to R2.70/litre and fortified wine by 5.7% to R4.85/litre. For malt beer‚ excise is up 7.5% to R63.81 a litre of absolute alcohol (or 7 cents per 340 ml can)‚ alcoholic fruit beverages‚ up by 7.4% to R3.19/litre. Excise on spirits has been raised by 10% to R3,60 per 750ml bottle. Excise on cigarettes rises 5.8% to R10.92 per packet of 20‚ cigarette tobacco by 10% to R12.16/50grams‚ pipe tobacco by 9.9% to R3.54/25 grams‚ and cigars by 7% to R56.76/23 grams. As was the case last year - and in previous years - traditional beer managed to again escape the excise tax net‚ maybe a good enough reason to try it out as an alternative tipple. SOURCE I-Net BridgeFor more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions. We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field. Go to: http://www.inet.co.za
LEGAL DISCLAIMER: This Message Board accepts no liability of legal consequences that arise from the Message Boards (e.g. defamation, slander, or other such crimes). All posted messages are the sole property of their respective authors. The maintainer does retain the right to remove any message posts for whatever reasons. People that post messages to this forum are not to libel/slander nor in any other way depict a company, entity, individual(s), or service in a false light; should they do so, the legal consequences are theirs alone. Bizcommunity.com will disclose authors' IP addresses to authorities if compelled to do so by a court of law. | Subscribe to industry newslettersRelated newsSubmit news ContributorsMore... Submit contributionLifestyle top storiesMore Lifestyle top stories... Submit newsBizcommunity has over 400 industry contributors and we always welcome further contributions and contributors. |
News
Community
Submit
MyBiz Account
Advertise
Bizcommunity
ADSL & Web hosting proudly provided by Afrihost. All rights reserved. © 2013. Bizcommunity.com, its sponsors, contributors and advertisers disclaim all liability for any loss, damage, injury or expense that might arise from the use of, or reliance upon, the services contained herein. Privacy policy, Terms of Use, PAIA.