via Beer keeps Zimbabwe going – NewsDay Zimbabwe July 30, 2015
Zimbabweans are finding solace in beer and Internet surfing while some talk a lot on their mobile phones to relieve stress in the face of economic challenges characterised by company closures and massive job losses.
BY XOLISANI NCUBE
The lack of sport and recreational facilities was said to be contributing to the increase in the abuse of alcohol by young people who usually drive to drinking spots and talk a lot on their smartphones as they seek alternative pastimes.
According to figures from the Zimbabwe Revenue Authority (Zimra), excise duty on fuel, alcohol and airtime surpassed the first quarter target by 21% after the tax authorities collected $346,2 million against an expectation of $285 million.
Despite the poor showing by all other revenue streams, excise duty was Zimra’s only cash cow to register a significant growth.
“Excise duty on fuel was the main contributor to total excise duty revenue with a contribution of 77%,” a statement from Zimra chairperson Willia Bonyongwe read.
“Excise duty on beer and airtime contributed 10% and 6% respectively,” the tax-collector further said.
“The remainder of the revenue was realised from excise duty levies on tobacco, wines spirits, second-hand motor vehicles and electric lamps.”
While some drink to have fun, others drink to escape their troubles, but this can lead to a dependency that has disastrous personal effects.
A 2002 World Health Organisation study Drug Use, Abuse and Alcoholism in Zimbabwe established that alcoholism was one of Zimbabwe’s four top diseases.
According to Zimra, the country also witnessed an increase in imports of fuel as evidenced by the rise in revenue collected from carbon tax by 1%.
During the first half of 2015, $17,4 million was collected from carbon tax against a target of $15,1 million.
“The increase in the import volume of petrol as compared to last year resulted in the revenue head surpassing the set target,” she said.
Econet Wireless Zimbabwe and Delta Beverages remain some of Zimbabwe’s best performing companies at a time the economy continues to shrink.
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