Sars plans to tax retirement funds if you leave SA, target offshore assets
Med scheme covers chemo treatment but not weekly Covid test required by hospital
No tax increases: A 'good news' Budget but SA not out of the woods
[WATCH LIVE] Budget 2021: Mboweni dives into state of South Africa's economy
'Matric results are a superficial measurement of education'
Twitter has strong feelings about renaming PE to Gqeberha (and pronouncing it!)
Facebook and Australia, what it means for the rest of us
Uber class action suit in SA: 'Drivers deserve employee rights', says law firm
'Kenya Airways said SAA is our role model! We want lots of government money!'
The pros and cons of lay-by purchases - #ConsumerTalk
'School Life Orientation plays a key role in pupils decision-making and success'
Does an emotive Sars advert make you feel better about paying tax?
Tiger Woods car rolls in crash near LA, undergoes surgery
South African Chris Morris becomes the world’s richest cricketer
'The Aussies are arrogant; it’s our turn! Host Lions in S Africa, or postpone'
Idols winner Sasha-Lee Davids is sharing her playlist of fave songs on Sunday
French actor Depardieu charged with rape: actress says he attacked her at home
New psychological thriller set in the Eastern Cape 'Dam' premiers on Showmax
Foreign investment boost of R1.6 billion for digital-only TymeBank
Street lights a simple way to keep woman safe in Khayelitsha, not implemented
How we can ensure everyone has a fair shot at getting the Covid vaccine
The future of renewable energy is bright
A South African fraudster fleeced US Big Tech out of R620 million ($42 million)
We’re producing in the hopes we’ll see an uptick - Jack Black founder
Alcohol bans cost liquor industry more than R36 billion in lost sales - study
The government lifted South Africa's third ban on alcohol sales this month, but the damage to the economy can't be undone.
The liquor industry has reported R36.3 billion in lost revenue due to the prohibition.
Tax revenue loss (excluding excise) amounts to R29.3 billion (2.3% of tax revenue).
RELATED: Govt can't keep switching liquor traders on and off like a light! - Solly Kramer
The figures are contained in a report prepared by FTI Consulting on behalf of the alcohol industry.
It puts South Africa's annualised GDP loss due to the booze bans at R51.9bn (1% of total GDP measured at market prices).
RELATED: From textiles to cigarettes, rise in illicit trade jeopardises economic recovery
Ray White interviews Kurt Moore, CEO of the South African Liquor Brand Owners Association (Salba).
It's an econometric model... Where possible, the economists relied on actual, observed data... Throughout the report they talk about potential losses, but the numbers are astronomical.
Kurt Moore, CEO - SA Liquor Brand Owners Association
They took 2019 sales because that's the last full year of sales... and used various metrics to come up with these scores.
Kurt Moore, CEO - SA Liquor Brand Owners Association
The report estimates that there's about 1.1 billion litres lost, which is about 24% of the annual sales. We lost about 30% of our sales opportunities during 2020.
Kurt Moore, CEO - SA Liquor Brand Owners Association
The tax man, just on excise, has lost R8.7 billion, which is about 21% of excise revenue.
Kurt Moore, CEO - SA Liquor Brand Owners Association
The industry understands that it's a government's priority to relieve pressure on hospitals and save lives, Moore says.
However, they believe the regulations could have been implemented in a more targeted and less damaging manner.
We believe the risk-adjusted strategy should perhaps be applied at a provincial or even district level. There's no need to go to a national level.
Kurt Moore, CEO - SA Liquor Brand Owners Association
And [government should] engage with the industry to find ways to mitigate these adverse consequences that come from a national ban.
Kurt Moore, CEO - SA Liquor Brand Owners Association
Listen to Moore's argument on behalf of the liquor industry below:
Copyright : https://www.123rf.com/license.php#standardSource : https://www.123rf.com/photo_55122233_bucharest-romania-march-26-2016-several-types-of-bottled-alcohol-are-displayed-on-some-shelves-in-a-.html
More from Business
Sars plans to tax retirement funds if you leave SA, target offshore assets
The proposal to tax retirement fund members when no longer tax-resident in SA is not unreasonable, says Prof. Osman Mollagee.
Read More
Med scheme covers chemo treatment but not weekly Covid test required by hospital
Consumer ninja Wendy Knowler follows up on the case of a patient who'd been paying his membership dues for more than 40 years.
Read More
No tax increases: A 'good news' Budget but SA not out of the woods
'We owe a lot of people a lot of money' says Tito Mboweni. Wide-ranging reaction to Budget 2021 on The Money Show.
Read More
Facebook and Australia, what it means for the rest of us
Will the deal with Australia help publishers around the world?
Read More
Uber class action suit in SA: 'Drivers deserve employee rights', says law firm
Uber South Africa is facing a class-action lawsuit over the employment rights of drivers.
Read More
'Kenya Airways said SAA is our role model! We want lots of government money!'
Kenya wants to nationalise the minority-privatised airline, providing a massive bailout. Bruce Whitfield interviews Dianna Games.
Read More
Does an emotive Sars advert make you feel better about paying tax?
It's Budget day tomorrow and branding expert Sizakele Marutlulle chooses a topical campaign as her advertising hero of the week.
Read More
Kumba Iron Ore reports record earnings: 'We're confident in terms of the future'
It's thanks to global demand and a quality product - The Money Show’s Bruce Whitfield interviews Kumba CEO Themba Mkhwanazi.
Read More
Foreign investment boost of R1.6 billion for digital-only TymeBank
The opportunity is a game-changer for the fledgling SA bank. Bruce Whitfield interviews TymeBank CEO Tauriq Keraan.
Read More
Pineapple leaf nappies and sanitary wear wins this innovative woman an award
Inners of Leafline products are made from a natural pineapple Leaf fibre called Pina Fibre making them environmentally friendly.
Read MoreMore from Local
Sars plans to tax retirement funds if you leave SA, target offshore assets
The proposal to tax retirement fund members when no longer tax-resident in SA is not unreasonable, says Prof. Osman Mollagee.
Read More
Med scheme covers chemo treatment but not weekly Covid test required by hospital
Consumer ninja Wendy Knowler follows up on the case of a patient who'd been paying his membership dues for more than 40 years.
Read More
No tax increases: A 'good news' Budget but SA not out of the woods
'We owe a lot of people a lot of money' says Tito Mboweni. Wide-ranging reaction to Budget 2021 on The Money Show.
Read More
J&J jab: WC health workers must bring ID and job proof on top of vaccine ticket
The Western Cape Health Department says it's implementing additional security measures after reports of vaccine queue-jumping in the province.
Read More
Music teacher becomes first woman to swim breaststroke from Robben Island
Kim Prytz took six hours to complete the swim from Robben Island to Melkbos, raising money for vulnerable families in Capricorn.
Read More
Woman gets Covid-19 from lung transplant. This expert blames weak donor testing
An organ transplant recipient in the US died of Covid-19 two months after contracting the virus from her donor's infected lungs.
Read More
Man due in court over theft of 'irreplaceable' San cave art
Ron Martin of the South African Heritage Resources Agency says the art is valuable beyond estimation.
Read More
Karl Bremer Hospital becomes fourth vaccination site in Cape Town
The Karl Bremer Hospital near Belville is the lastest site where healthcare workers are able to receive Covid-19 vaccines in the metro.
Read More
[WATCH LIVE] Budget 2021: Mboweni dives into state of South Africa's economy
All eyes were on South African Finance Minister Tito Mboweni as he delivers his 2021 Budget Speech on Wednesday at 2pm.
Read More
'We quit our jobs to make jam' - Couple shares success story
Jacobs Jam Company is a level 1 B-BBEE, female, youth-owned jam and sauce manufacturer, located in Ceres.
Read More
Highlights