PwC has launched a sugar tax evaluator to help businesses determine if they are liable for the new Sugar-Sweetened Drinks Tax (SSDT).
The tax, to be introduced on 6 April, is expected to generate around €40m annually. It will apply to the supply of drinks where the sugar content is in excess of 5 grams per 100ml.
Speaking at the launch of the sugar tax evaluator, PwC Ireland’s Global Trade & Customs leader John O'Loughlin said: "Our sugar tax evaluator is a useful step-by-step tool to help companies determine if they are liable to pay the tax, and if any exemptions may apply.”
The tax is €0.1626 per litre for drinks with a sugar content of at least 5g but less than 8g per 100ml, and €0.2439 per litre for drinks with a sugar content of 8g or more per 100ml.
“Given that the effective date is fast approaching, businesses need to review their supply chains and product portfolios to determine whether they will be affected,” said O’Loughlin. “Many companies will be under pressure to ensure that they have the necessary arrangements in place.
“Businesses who are affected should determine the impact on pricing and develop a new pricing strategy. In addition, they should also ensure that they are set up to deal with the administrative requirements of the new tax, including having the right resources in place."
In advance of 6 April, companies need to:
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