DAIRIBORD Holdings says it parted with US$2,26 million in special surtax on sugar content during the just-ended financial year to December 31, 2024 reflecting the adverse impact of the new fiscal requirement on business profitability.
It was a double whammy for the dairy products maker after authorities also made value added tax reclassification of milk products, resulting in additional fiscal costs.
Zimbabwean authorities last year introduced a US$0,001 per gram tax on sugar in beverages, a move they say was meant to curb excessive sugar consumption and promote healthier choices for consumers.