ONE of Zimbabwe’s largest beverage makers, Schweppes Zimbabwe, says the newly introduced tax on sugar content in drinks, will weigh heavily on demand, profitability and industry competitiveness even after the major climb down by authorities, which saw the tax twice reviewed since being first announced. Schweppes Zimbabwe Limited is a manufacturer and distributor of non-carbonated…
Captains of industry and commerce in the beverages sector have welcomed the downward review of the sugar tax from US$0,002 to US$0,001 per gramme of sugar, saying the adjustment will lessen the cost and financial burden associated with the new tax. Finance, Economic Development, and Investment Promotion, Professor Mthuli Ncube last week gazetted Statutory Instrument…