Finance Minister Enoch Godongwana has announced excise duties on alcohol and tobacco will increase by between 4.5% and 6.5% from Wednesday.
FILE: The alcohol industry said it had lost R42 billion in sales value over the last two years. Picture: 123rf.com
CAPE TOWN – While South Africa continues to enjoy the relief provided by the commodities boom, the so-called sin industries have not been spared on Wednesday’s Budget.
Finance Minister Enoch Godongwana has tabled his inaugural Budget of R2.16 trillion on Wednesday.
The alcohol industry said it had lost R42 billion in sales value over the last two years.
If you were not part of the half a million South Africans who quit smoking during the hard COVID-19 lockdown and you still enjoy having a glass of wine or a beer at the end of a long day, then you’re going to have to dig deeper in your pocket.
Godongwana has announced excise duties on alcohol and tobacco will increase by between 4.5% and 6.5% from Wednesday.
And if you always thought vaping was a way to flee the taxman.
“Government also proposes to introduce a new tax on vaping products of at least R2.90 per milliliter from 1 January 2023.”
The government will also introduce a new tax on beer powders. And if sugar is your drug of choice, you’re not spared either.
After three years of no changes, the health promotion levy has been bumped up to R2.32 per gram of sugar.
The Sin Tax increases as of Wednesday are as follows:
• A 340ml can of beer or cider will cost 11c more;
• A 750ml bottle of wine will be 17c more expensive;
• A bottle of sparkling wine will cost an additional 76c;
• And a bottle of spirits will be R4.83 more expensive;
• A packet of cigarettes will cost an additional R1.03;
• 25 grams of piped tobacco will cost an extra 37c; and
• A 23 gram cigar will be R6.77 more expensive.
For all the latest lifestyle News Click Here
