Advertisements STAR Africa Corporation (Star Africa) says the government’s reluctance to review the surcharge on sugar and value-added tax (VAT) expenses continue to erode the group’s operating margins.Advertisements Authorities introduced a US$0,001/gram sugar tax on beverages in early 2024, while basic products, including sugar were moved from zero-rated to exempt, raising production costs. In its…
Sugar tax, VAT choke StarAfrica
The group’s consolidated turnover decreased by 25 percent from ZiG965,6 million to ZiG727,1 million, primarily due to a reduction in sales volumes of 26 percent at Goldstar Sugars.