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Labrish
Nyuuz
Delta Corporation blasts tax chaos and sugar levy as profits and jobs come under fire
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[QUOTE="Munyaradzi Mafaro, post: 52322, member: 636"] Delta Corporation submitted extensive policy proposals to Zimbabwe's government ahead of the 2025 Mid-Term Policy Review. The beverage manufacturer advocates raising the Value Added Tax registration threshold from $24,000 to above $60,000 annually. Company executives argue current policies hamper business operations and reduce consumer purchasing power. Delta operates as the nation's largest drinks producer, manufacturing Coca-Cola and local beer brands. The firm trades publicly on the Zimbabwe Stock Exchange. Sugar taxation has substantially affected Delta's operations since February 2024 implementation. Soft drink prices rose between 15 and 45 percent following the surtax introduction. Cordial beverages experienced the steepest price increases among affected products. Delta proposes reducing the levy to $0.0005 per gram with tiered application above 4g per 100ml thresholds. The company absorbed significant costs through discounting practices that executives describe as unsustainable. Administrative challenges with Zimbabwe Revenue Authority systems create operational difficulties for the corporation. Delta paid approximately $7.5 million in Intermediated Money Transfer Tax over three years. The company faces reconciliation problems with the Tax and Revenue Management System platform. Multiple audit requests and information demands suggest revenue authority data access limitations. Delta recommends streamlining employee share scheme taxation to a flat 5 percent rate. [/QUOTE]
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Labrish
Nyuuz
Delta Corporation blasts tax chaos and sugar levy as profits and jobs come under fire
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