News: Tax Increase may make South Africans no longer afford to smoke and drink
South Africa's finance Minister, Parvin Gordhan has revealed in a new proposal that alcohol and tobacco excise duty rates will get an increase this year. While presenting the proposal at the National Assembly Wednesday, February 22, 2017, he said: The National Treasury proposes increases in the excise duties for alcohol and tobacco of between 6 and 10 percent.' If the new proposal is finally approved, an excise duty of 149.6 cents will be charged on every 340ml can of malt beer. Likewise, an excise duty of R3.61 per litre will be charged on unfortified wines. That represents an increase of 8.8 percent on the current charge of R3.31 per litre. Similarly, a new rate of R6.17 per litre for fortified wines was proposed. The rate has a 6.1 percent increase as the current charge is R5.82 per litre. The excise duty for sparkling wine will go up by 8.8 percent from R10.53 to R11.46 per litre, while spirit products will also get an increase of 8.5 percent. It would r...