Govt to implement “crippling” alcohol and tobacco taxes
Silence Charumbira
ALCOHOL drinkers and smokers will be forced to dig deeper into their pockets after Finance Minister Thabo Sophonea proposed to finally implement the sin tax which will see alcohol and tobacco levies increased by 15 and 30 percent respectively.
Presenting his budget speech in parliament yesterday, Mr Sophonea said “during 2021/22 fiscal year, the government intends to introduce…an alcohol and tobacco levy at 15 and 30 percent, respectively”.
He said the government hoped to realise an additional M286, 6 million in revenue annually from the levies.
The levies have been on the cards since 2019 when former Finance Minister and current Prime Minister Moeketsi Majoro announced that the government intended to increase the levies during the 2019/2020 financial year.
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