The recent decision by the government to reduce the tax on sugary drinks, commonly referred to as the “Sugar Tax,” has been met with approval from key players in the business sector.
In an interview Confederation of Zimbabwe Industries (CZI) past president Calisto Jokonya, welcomed the decision and said the lesson to be drawn from the situation is that of the importance of consultation.
Finance, Economic Development, and Investment Promotion, Professor Mthuli Ncube last week gazetted Statutory Instrument (SI) 16 of 2024 on levy of special surtax on beverages sugar content, reflecting the downward review from the initially announced levy.
This provided legal guidance on exactly how much will be levied on sugar content within beverages, and officially announced a marked reduction of the levy from the 0,002 cents per gramme the minister initially announced in the 2024 national budget statement last November.
