Malaysia will for the first time impose an excise tax of 40 sen (UScents 10) per litre on sweetened beverages starting April 1, 2019, according to local press reports.
USA – Chicago repeals tax on sugary drinks [Registered]
In August ‘17 Cook County, Illinois, established the largest soda tax in the United States. Covering an area that includes Chicago and 5.2 million residents, the tax added an extra cent per ounce of soda or other sugary beverage. The tax, starting Dec. 1, was repealed in early October following 15-2 vote against it by commissioners.
Brazil slaps 20% tax on ethanol imports from USA [Registered]
The Brazilian Agriculture Minister Blairo Maggi announced on 23 August that CAMEX, Brazil’s Chamber of Foreign Trade, has approved a recommendation to impose a 20% tariff on U.S. ethanol imports after a 600 million litre tariff rate quota.
Sri Lanka – Finance ministry increases sugar import levy by US$ 52/tonne [Registered]
Sri Lanka’s finance ministry increased an import tax on sugar by LKR 8/kg (US$ 52/tonne), commencing midnight on August 15, according to local press reports.
Barbados – 10% tax on sugary beverages from 1 August 2015 [Registered]
Making the announcement while delivering the national budget, Minister of Finance Chris Sinckler, also listed those “Beverages containing intrinsic sugars only, such as 100% natural fruit juice, coconut water, plain milk, evaporated milk [which] will not be subject to the excise tax.”
Tanzania – 50% tax on imported sugar introduced [Registered]
The move was widely welcomed by the stakeholders in the sugar industry. The news was broked by a representative of Tanzania Sugar Producers Association (TSPA), Mr Hamad Yahaya at a news conference.
Monthly Snapshot
Raw sugar for March delivery settled at 19.82 cents/pound on January 18 after reaching a two-and-a-half-week high earlier in the session at 20.25 cents. The white sugar contract expiring in […]
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