IN a determined effort to curb non communicable disease by promoting healthy living, the Coalition Government announced this morning the implementation of new taxes.
Deputy Prime Minister and Finance Minister Professor Biman Prasad announced a domestic excise of 40 cents per kilogram or per litre and import excise of 15 percent would be introduced on juice (carbonated drinks, Frubu, Tampico, Pulpy, Just Juice and Marigold), ice cream, sweet biscuits, snacks, and sugar confectionery.
He said this while delivering the 2023-2024 National Budget in Parliament this morning.
“We are going to increase the excise tax on alcohol and tobacco by 5 percent while the excise on carbonated / sugar-sweetened beverages will be increased from 35 cents per litre to 40 cents per litre,” Prof Prasad said.
“Alcohol taxes were reduced by 50 per cent during COVID, while taxes on tobacco were kept unchanged. “We are mindful that alcoholic beverages are an integral part of our tourism industry.
“So we are starting with a very small increase compared to the massive reduction we had two years ago.”