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Salada Pays Out Millions In Tax On Imported Green Coffee Beans

From: m.jamaicaobserver.com

NSTANT coffee processor Salada Foods Group (SALFG) Chairman Partick Williams reported to stockholders that SALFG’s profitability in the nine-month period ended June 30, 2019, continues to be impacted by the tax imposed on green coffee beans. It has already paid out $56 million to Jamaica Agricultural Commodities Regulatory Authority (JACRA) year to date.

“Prior year results, June 30, 2018, there was no cost impact attributable to the cess; profitability has been adversely affected as a result,” Williams stated on Thursday last (August 8) in the report posted on the Jamaica Stock Exchange website.

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