Home | News | GOVT WANTS TO HIKE ALCOHOL, TOBACCO TAX BY 10 PER CENT

GOVT WANTS TO HIKE ALCOHOL, TOBACCO TAX BY 10 PER CENT

Font size: Decrease font Enlarge font

MBABANE – Alcohol consumers and smokers are in for a shock as government has proposed a 10 per cent tax increase.


Through the Alcohol and Tobacco Levy Bill of 2016, the Minister of Finance, Martin Dlamini, has stated that the objective of the proposed law was to provide for the imposition and collection of a levy on alcoholic drinks and tobacco products and other incidental matters.


The proposed 10 per cent is for both alcoholic beverages and tobacco products which are imported into Swaziland. The Bill, which is yet to be tabled in Parliament, has also proposed a further five per cent increase in alcoholic beverages and manufactured tobacco which is produced in Swaziland and the levy will be imposed on those who supply these products.
A majority of the alcoholic beverages such as ciders (Hunter’s Dry and Savana) and wines which are popular among women, are not manufactured in the country as well as spirits. 


Section 4 of the Bill states that the taxable value of a supply of taxable goods manufactured in Swaziland was the total consideration paid in money or kind by all persons for the supply, but excluded any value added tax levied on that supply.


“The taxable value of an import of taxable goods is the sum of the value of the of the goods ascertained for the purposes of customs duty under the laws relating to customs, plus the amount of customs duty, excise tax and any other fiscal charge other than Value Added Tax (VAT), payable on those goods,” reads the Bill.
The Bill further states that a person who intends to be registered as a taxable person shall apply to the Commissioner General of the Swaziland Revenue Authority (SRA) in a form prescribed by the commissioner general.

Comments (0 posted):

Post your comment comment

Please enter the code you see in the image: