The wine industry holds its breath over sin tax
21 February 2012 by Lucille Botha, Landbou.com
Sin Tax on wine has seen an increase from R0,89 per liter to R2,32 per
litre since 2003, which has had a direct impact on wine farms
Farmers' payouts have been affected with about R1 100 per ton. The wine industry is currently holding its breath for the announcement of duties at the budget speech on 22 February. Shortly thereafter, the Government will announce the new targets for the alcohol tax policies.
Currently the targets are 23% for wine, 33% for beer and 43% for spirits. Mr. Paiter Botha, financial manager for VinPro, predicted at a media breakfast last week, that Government will leave the target of 23% for wine unchanged.
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