Nigerians to pay more for soft drinks as Customs moves to reintroduce excise duty

0

‎Nigerians may soon start paying more for soft drinks as the Nigeria Customs Service (NCS) has revealed plans to start collecting excise duty on the non-alcoholic beverages.

The Federal Government had abolished collection of excise duty on soft drinks in 1993.‎

However, Comptroller General ‎of the NCS, on Thursday, told the joint committee of the Senate on finance and national planning that tax waivers should no longer be extended to companies that are producing soft drinks in the country.

He noted that there is no reason to exempt companies that produce soft drinks from taxation when those that produce alcohol and tobacco are paying excise duties.

Ali said, “We have been pushing for the expansion of our own excise collection.

See also  Mali opposition leader to junta: ‘You don’t have a blank cheque’

“During the (Ernest) Shonekan regime (in 1993), excise was stopped for carbonated drinks manufacturers, like Coca-Cola.‎

“The only one approved for us are tobacco alcoholic beverages. The understanding then was that tobacco and alcoholic beverages affect the health of citizens and should be taxed.

“But we know that carbonated drinks are also injurious to the health of the people due to the high sugar content.

“Therefore if tobacco and alcoholic beverages companies are paying tax, the carbonated drink manufacturers should also pay.”

In his response, ‎Senate President Ahmad Lawan, wondered why companies such as Coca-Cola do not pay excise duty.‎

“I don’t understand why Coca-cola for instance should not pay excise.‎

See also  Customs intercept N788.18m smuggled rice, PMS from Seme border

“It is an established company all over the world and it dominates the soft drinks industry,” the Senate President said.

Untitled Document

You can always reach us through these channels

Facebook: https:/www.facebook.com/ancitymedia

Instagram: https://www.instagram.com/ancitymedia

Youtube Channel: https://youtube.com/@ancitymedia

 

Phone Numbers: 07062501185, 09038738731

E-Mail: info@ancity.com.ng, anambracity@gmail.com

Copyright.

This Post: Nigerians to pay more for soft drinks as Customs moves to reintroduce excise duty was approved and published by Ancity Media Editor and may not be republished elsewhere without prior written permission from the Editor.


Get real time updates directly on you device, subscribe now.

Comments
Loading...

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More