Govt plans tax cuts on soft drinks
Oct 06, 2002
GOVERNMENT is considering reducing taxes on soft drinks in order to make them more affordable, Sam Kuteesa, state minister for finance in charge of investment has disclosed
By Ricks Kayizzi
GOVERNMENT is considering reducing taxes on soft drinks in order to make them more affordable, Sam Kuteesa, state minister for finance in charge of investment has disclosed.
“We have recognised the importance of the drink and beverages sector and observed how much in taxes it would contribute to national coffers,†he said.
This was during a prize giving ceremony held at the Crown Beverages Ltd premises at Nakawa last week.
He said the consideration follows a rise in consumption of beer following reduction of excise duty and a sizable rise in tax government collects from beer firms.
“Consumption of beer has gone up as has the production. But we need figures from the soft drink manufacturers that the same would happen if we lower taxes on soft drinks,†he said.
Pepsi boss, Amos Nzeyi, said a bottle of soda would go for sh300 if government relaxed on the high taxes it has imposed on soft drinks.
“Even the poorest can afford it,†Nzeyi said.
GOVERNMENT is considering reducing taxes on soft drinks in order to make them more affordable, Sam Kuteesa, state minister for finance in charge of investment has disclosed.
“We have recognised the importance of the drink and beverages sector and observed how much in taxes it would contribute to national coffers,†he said.
This was during a prize giving ceremony held at the Crown Beverages Ltd premises at Nakawa last week.
He said the consideration follows a rise in consumption of beer following reduction of excise duty and a sizable rise in tax government collects from beer firms.
“Consumption of beer has gone up as has the production. But we need figures from the soft drink manufacturers that the same would happen if we lower taxes on soft drinks,†he said.
Pepsi boss, Amos Nzeyi, said a bottle of soda would go for sh300 if government relaxed on the high taxes it has imposed on soft drinks.
“Even the poorest can afford it,†Nzeyi said.