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Treasury grants alcohol industry request for excise tax suspension

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The National Treasury has granted a request by the alcohol industry for a deferment of excise tax on liquor.

Alcohol industry spokesperson Sibani Mngadi said in a statement on Tuesday that the Treasury had proposed a 90-day suspension for the payment of excise tax on alcohol.Mngadi said the sector had last month applied for the deferment of R5.1bn in excise tax due to the SA Revenue Service until the ban on sales is lifted.

In response to the industry request, the Treasury proposed introducing a 90-day deferral on excise taxes to be made in August and September of 2020.Mngadi said the focus was now on reviving the sector as quickly as possible.

 

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