The alcohol industry has asked for its excise tax to be deferred

  • Alcohol producers and traders have called for Covid-19 restrictions to be eased and for liquor trading to be allowed for off-site consumption, but at present face a blanket ban.
  • The latest request is the second from the industry, which applied for a deferment during the country’s second alcohol sales ban last year.
  • Alcohol producers and traders pay SARS about R2.5 billion a month in excise tax for imported and local products but the ban means that companies will have to pay excise tax for products that are sitting in their warehouses and can’t be sold due to the ban.

South Africa’s alcohol industry has asked for another deferment of its excise tax payment until the latest sales alcohol ban is lifted.

The industry’s request comes after President Cyril Ramaphosa’s Monday night announcement that the ban on the

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TipRanks

2 “Strong Buy” Penny Stocks That Could Rally Over 100%

Bank of America has a strong reputation for keeping finger on the pulse of the financial world – and one of its key tools is the Global Fund Manager Survey, conducted monthly and seeking opinions from more than 200 hedge fund, mutual fund, and pension fund managers who hold a combined $645 billion in AUM. It’s the largest regularly conducted survey of its kind. And BofA most recent findings show that Big Money is feeling confident. More than 90% of investors surveyed believe that 2021 will show a significant recovery from 2020, that asset allocations to stocks and commodities are at their highest in 10 years, and there’s a general belief that global growth is at an all-time high. So, there is a general consensus that now is the time to invest. The only remaining question is, invest in

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