SAB’s tax tip for Tito is likely to fall on deaf ears
The brewer has asked finance minister Tito Mboweni for zero increase in excise tax but the state's coffers are stretched
SAB’s tip for finance minister Tito Mboweni — that he give a tax break to SA’s brewers, which are reeling from alcohol sales bans — is likely to fall on deaf ears as SA struggles to rebuild its Covid-battered finances, notwithstanding the recent improvement in government finances, economists say.
Just a week after Mboweni launched his TIPS for MoF campaign, a tradition that was started by Trevor Manuel just over two decades ago, the brewer, owned by AB InBev, embarked on a social media campaign and asked the minister for a zero increase in excise tax. The tax added R46.8bn to the fiscus in 2019...