A significant decline in the production of non-alcoholic beverages has hit the bottling industry owing to changes the federal government made on excise tax last year. The 11percentage point increase passed by Parliament, surging excise tax the industry pays to 25pc, has affected sales volumes and eroded the companies’ bottom lines, a study conducted by the Food, Beverage & Pharmaceutical Industry Development Institute found out. Productivity of non-alcoholic beverages across the industry plummeted by 20pc, the study disclosed.
Excise tax plummets beverage productivity by 20 pc
By: Bamkak Fikadu (FORTUNE STAFF WRITER)
Published On: Jul 18,2021