CIGARETTE DISRUPTION: British American Tobacco fears profits will go up in smoke as illegal trade devours the market

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 54 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 84%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

The cigarette manufacturer says illicit tobacco is driving out legal operators and depriving South Africa of billions in excise duty.

are verboten, because they are deemed to encourage children and young people from taking up vaping. From 1 July 2023, flavoured e-cigarettes and refill e-liquids will also be banned.reported more than 1,000 people had been sickened by lung illnesses

Batsa, which produces Peter Stuyvesant, Dunhill, Pall Mall, Rothmans, Benson & Hedges and Kent, as well as the Vuse vape devices, calculates that there are at least 24.4 billion illicit cigarettes on the market, costing SA R24-billion in excise revenue only, excluding VAT and other taxes. Since 2020’s Covid shutdown, BAT has been forced to decommission cigarette manufacturing machines and lay off staff. The latest round of retrenchments, announced in January 2023, affects about 190 of the group’s 1,100 local jobs. In 2018, BAT employed 2,400 staff.

Philip Morris and other international suppliers import 3.4 billion sticks legally each year, paying taxes on the products. During last week’s Budget speech, Finance Minister Enoch Godongwana said over the past three years, SARS has taken several steps to enhance its effectiveness in combating illicit trade, particularly in tobacco.to the value of R598.8-million. An additional R18-billion worth of schedules and assessments have been raised, targeting syndicated tobacco-related crimes.

 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

My thoughts in this thread:

Greedy tax rates are to blame

The ANC doesn’t care. Neither does sarstax or EdKieswetter

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 3. in KR

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

South Africa’s R18bn muti market goes mainstreamA Durban entrepreneur wants to bring the R18bn muti market to major pharmacy retail chains
출처: FinancialMail - 🏆 20. / 63 더 많은 것을 읽으십시오 »