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Sugar tax could slash GDP by R14bn - BevSA

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Johannesburg - The proposed tax on sugar sweetened beverages (SSBs) has the potential to reduce the industry’s contribution to South Africa’s gross domestic product (GDP) by R14bn, the Beverages Association of South Africa (BevSA) warned on Tuesday.

It said this is the equivalent of 0.4 percentage points of GDP growth in 2016.

BevSA announced its formal response to National Treasury’s policy paper on a sugar tax at a formal briefing, in Sandton. Speaking at the briefing, Mapula Ncanywa, executive director explained that companies currently contribute R7.6bn as tax revenue.

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