Drinkers and smokers waited with bated breath yesterday to see what damage Finance Minister Pravin Gordhan would do to their pockets in his annual bout of sin tax increases.
Excise duties on spirits went up a whopping a 20 percent to R36 per 750ml bottle, duties on beer went up 10 percent to R1.01 per 340ml can and 8 percent on wine.
Gordhan whacked a 5 percent to 8 percent increase on tobacco products.
Currently, duties make up 52 percent and 23 percent of the retail prices of tobacco products and wine respectively.
There was no increase in duties on traditional African beer. – Mercury Correspondent
|
|
Services
Buying a car has never been easy. Motoring.co.za contains a large database of car listings with a user friendly search.
Start searching today »
Business Directory
We like to make your life easier
Mobile
Browse IOL on your phone at m.iol.co.za.
Newsletters
Subscribe to our newsletters. News delivered to your inbox!
