Sin taxes increase amid booze ban

A bottle of spirits, like whiskey, gin or vodka, will now cost N$2.89 more.

28 May 2020 | Economics

OGONE TLHAGE

WINDHOEK



Despite the ban on alcohol imposed to contain the spread of the coronavirus, sin taxes will increase for the current financial year, finance minister Ipumbu Shiimi announced in his maiden budget delivered yesterday.

As a consequence, a 340ml cider will now cost eight cents more, 750ml of wine will cost an extra 14 cents and 750ml of sparkling wine will cost an extra 61 cents while a bottle of spirits, which include whiskey, gin, brandy and vodka, will cost N$2.89 more.

Smokers will also feel the pinch, with a packet of 20 cigarettes costing 74 cents more while 25 gram of piped tobacco will cost an extra 74 cents and a 23-gram cigar will cost a whopping N$6.73 more.

Commenting on the revised taxes, Shiimi said it acted as a deterrent to spending on alcohol and tobacco products on the part of customers.

“The current ban on the sale of alcohol products due to the coronavirus saves consumers from sin taxes,” he added.

Shiimi noted no new tax increases for the current financial year.

“Given the challenging economic landscape, this is not the time to introduce new taxes,” he said.

He however mentioned that persons earning above N$50 000 annually would be subject to paying taxes going forward.

“Fellow Namibians, those who earn above the tax threshold must pay commensurate tax, irrespective of the type of economic activity from which they derive their income.

“This money is needed to pay for medicines, school books, construction and maintenance of roads and other critical public goods and services the public enjoys,” Shiimi said.

Similar News

 

Favourable environment to invest in property

14 hours ago | Economics

PHILLEPUS UUSIKUNamibia is currently in a buyers’ market, making it a good time to invest in a property or a dream home. According to Frans...

China losing battle to sell deals to Congolese

14 hours ago | Economics

ANNIE THOMASMuch has ground to a halt during the coronavirus pandemic, but not the march of Sino-Congolese friendship. The Chinese embassy in Kinshasha is keen...

International arrivals slowly picking up

14 hours ago | Economics

PHILLEPUS UUSIKUThe index for regional and international arrivals recorded a marginal increase of 0.9% monthly in July 2021 upward from a reduction of 28.4% registered...

NAFAU to represent NIDA employees

1 day - 20 September 2021 | Economics

PHILLEPUS UUSIKU The Namibia Industrial Development Agency (NIDA) and the Namibia Food and Allied Workers Union (NAFAU) signed the recognition agreement on Friday. The union...

N$9.5bn guarantees for SOE borrowing

1 day - 20 September 2021 | Economics

OGONE TLHAGEWINDHOEKGovernment guarantees to back borrowing by public enterprises stood at N$9.5 billon as at the end of August 2021.This has been confirmed by the...

Kenyans voice fury over fuel price hikes

1 day - 20 September 2021 | Economics

Kenyans voiced fury on Thursday at a jump in fuel prices, which threaten to pile on the misery for a population already suffering economic hardship...

Relief from the price monster in August

4 days ago - 17 September 2021 | Economics

PHILLEPUS UUSIKUStatistics released by the Namibia Statistics Agency (NSA) indicated that on a monthly basis, inflation decreased by 0.2% in August 2021 compared to an...

Maximizing the full potential of Agriculture

4 days ago - 17 September 2021 | Economics

HANKS SAISAIVision 2030 is fast approaching and with approximately nine years left before the country reaches this significant milestone, it becomes every citizen ’s responsibility...

Kenya to host Africa digital finance summit

4 days ago - 17 September 2021 | Economics

STAFF REPORTERKenya is set to host the second annual Africa Digital Finance Summit (ADFS) on 22nd to 24th February, 2022. The three-day event themed “The...

Erongo RED adjusts electricity tarrifs

5 days ago - 16 September 2021 | Economics

The Electricity Control Board (ECB) has approved a weighted average of 1.7% tariff adjustment by Erongo RED effective July 2021 to June 2022.The adjustment according...

Latest News

Favourable environment to invest in...

14 hours ago | Economics

PHILLEPUS UUSIKUNamibia is currently in a buyers’ market, making it a good time to invest in a property or a dream home. According to Frans...

‘She is an unruly drunkard’

14 hours ago | Justice

TUYEIMO HAIDULA ONDANGWA The woman accused of beating her daughter Wilka Shikongo so...

Swapo blasts ECN, boycotts recount

14 hours ago | Politics

JEMIMA BEUKES WINDHOEKThe ruling party has taken serious issue with the Electoral Commission of Namibia’s (ECN) decision to recount ballot papers...

A young man feeding the...

14 hours ago | Agriculture

Rivaldo KavangaNdatulumukwa Haikali, known for his passion for agriculture and empowering young people in the agricultural sector, has made great strides in the Namibian agricultural...

China losing battle to sell...

14 hours ago | Economics

ANNIE THOMASMuch has ground to a halt during the coronavirus pandemic, but not the march of Sino-Congolese friendship. The Chinese embassy in Kinshasha is keen...

EDITORIAL: Swapo must respect electoral...

14 hours ago | Opinion

For years, the opposition in Namibia was blamed, sometimes correctly, of tainting the credibility of our elections.This is because even when there was no shred...

Your voice

14 hours ago | Opinion

This week we asked Unam hostel students to share their opinions on online dating and how can they protect themselves from catfishing.Patience MbungaOnline dating can...

Youth unemployment crisis

14 hours ago | Youth

Rivaldo KavangaShocking statistics were brought to light in parliament in the last two weeks as it was discovered that the highest qualification of 229 259...

WASH YOUR HANDS

14 hours ago | Youth

Young children have learned a lot about the importance of hygiene during the pandemic. A learner from Orwetoveni Primary School in Otjiwarongo is seen washing...

Load More