CAPE TOWN – Attractive as the sin taxes option may appear as a way of boosting government’s tax revenues, Fedusa on Tuesday cautioned Finance Minister Tito Mboweni to approach this issue with great care and sensitivity as onerous taxes may push some companies into serious financial hardships.
Fedusa said in a statement that This could ultimately force them to consider retrenching workers in order to survive commercially. “The sugar tax has already forced companies to issue a flurry of Section 189 retrenchment notices.” The SA Canegrowers Association on Tuesday urged the Finance Minister to urgently halt the sugar tax, which was crippling the sugar industry and causing thousands of job losses.
SACG chairperson Rex Talmage said since it was implemented in April 2018, the sugar tax had cost the sugar industry around R1.5 billion, with the cane growing sector alone losing about 9 000 jobs in the first year. This number is climbing, and thousands more have been lost in the sugar-milling and beverage industries. The impact of the sugar tax on poor, rural communities is absolutely devastating.
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