Sugar tax increase derails our plans to empower the industry – association

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United States News News

Finance minister Enoch Godongwana's decision to increase sugar tax has left a bitter taste in the mouth of the sugar producers.

She said the master plan includes a task team which has been set up to investigate and develop an industry proposal for a long-term policy framework and approach to taxation of sugar and sugar-derived products with a view to engaging government on strategies and policies to provide certainty and predictability in support of investment and planning by industry and government.

Mabaso-Koyana said since the introduction of the sugar tax in April 2018, the industry has lost revenue of approximately R1.2bn per season.

 

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