Home South Africa News Sad news for South Africans as Finance minister Tito Mboweni increases alcohol...

Sad news for South Africans as Finance minister Tito Mboweni increases alcohol prices – Here are the new prices

Tito Mboweni and Cyril Ramaphosa

Finance minister Tito Mboweni has tabled his 2021 budget speech and sin taxes have gone up as usual.

A bottle of 750ml wine will now cost an extra 26 cents, a 340ml can of beer increases by 14 cents.

While a bottle of 750ml spirits including whisky, gin, and vodka will increase by R5.50.

A packet of 20 cigarettes will cost an extra R1.39 cents, and a 23-gram cigar will be R7.71 more expensive.

Speaking about taxes the minister said there will be no large announcements, stating that the corporate income tax rate will be lowered to 27% for companies with years of assessment commencing on or after 1 April 2022.

He added that some personal income tax brackets will be increased by 5% and it will provide R2.2 billion in tax relief and most of that will reduce the tax burden on the lower and middle-income households.

-daily sun

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Lasizwe

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