continues as various liquor associations called on Minister of Finance Tito Mboweni to extend the payment of excise duties period with an additional 90 days.
This comes after, the alcohol industry was afforded a deferment on payments due in May 2020 and June 2020 for a period of 90-days for excise compliant businesses, which was included in the tax measures issued by government in April.The associations said that the current market conditions made it difficult for members to secure short term funding, while the majority of the companies in the industry did not qualify for the other government relief measures offered.
“This will limit our ability to pay our employees and various suppliers and place us at risk of breaching our financial covenants.”The associations said their members manufacture various alcoholic beverages, which formed part of the point of sale and duty at source regulations.
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