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10% excise tax on sweet drinks


10% excise tax on sweet drinks

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IN ORDER to control the consumption of sweet drinks and promote a healthier lifestyle among Barbadians, Government will be introducing a ten per cent excise tax on beverages with added high-calorie sweeteners.

Delivering the Financial Statement And Budgetary Proposals yesterday, Minister of Finance Chris Sinckler told the House of Assembly that Cabinet had decided to encourage healthier consumption patterns, sweetened beverages “such as carbonated soft drinks, juice drinks, sports drinks, fruit juices  . . . particularly those under the tariff headings 20.09 and 22.02 on the import side, and similar products of like standing produced within Barbados that contain added high-calorie sweeteners, will now attract a ten per cent excise tax levied on the value of the product before VAT is applied”.

Please read the full story in today’s Daily Nation, or in the eNATION edition.