Illegal trade in tobacco and alcohol hits taxman
And effect of lockdown bans lingers
19 November 2023 - 06:07
Excise revenue on tobacco, beer and spirits dropped R3.7bn in the first half of financial 2024, even though collections improved post-Covid — and alcohol and cigarette manufacturers blame the proliferation of illicit products and counterfeit goods.
“While collections in spirits excise duties have recovered well compared to levels in 2019/2020, collections over the first half of 2023/24 were also 12.4% lower compared to the same period in 2022/23. Beer and wine collections have grown by 2.1% and 9.7% respectively over the same period,” according to the National Treasury. ..
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