FG Begins Implementation Of N10 Tax On Soft Drinks

Firms importing and producing Sugar-Sweetened Beverages (SSBs) higher is known as ‘At ease drinks’ in Nigeria are now mandated to pay N10 tax per litre of the soda drinks sooner than it will also additionally be marketed in the country, Kumornews understands.

That is because the Federal Government thru the Nigerian Customs commenced the implementation of the early proposed taxation on the soda drinks to slash the incidences of Non-communicable Ailments in Nigeria.

The graduation of the narrate changed into disclosed at an interactive session at a Policy Breakfast Assembly in Abuja the day prior to this by the Chief Superintendent of Customs, Department of Excise, Free Trade Zone and Industrial Incentives, Mr Dennis Ituma.

Kumornews understands that the assembly changed into organised by the Nationwide Action on Sugar Reduction to proffer ideas to implement taxes and diversified interventions to slash SSBs consumption in the country.

In response to Ituma, the NCS had started the implementation of taxing all companies producing SSBs on June 1st, 2022, this he mentioned started with the sensitisation of the firms on the need for the taxation.

He mentioned: “The N10 per litre of Sugar-Sweetened Beverages has been implemented on June 1, by July 21, all excise responsibilities must were light and paid into the federation memoir.

“It may maybe perhaps accrued hobby you that taxation on SSBs changed into a policy of the Federal Government in 1984 nonetheless changed into stopped in January 2009. Beforehand both SSBs, alcoholic drinks and tobacco had been all taxed till 2009 when SSBs changed into eliminated from taxable drinks.

“Exclusively alcoholic drinks and tobacco generates N414 billion, SSBs will extra elevate the earnings generated from drinks.”

Talking on the sequence plan, Ituma mentioned the authorities’s company would guarantee the firms are properly taxed. The service designates resident customs officers to all factories producing SSBs who narrate the measurements of all each day productions.

President Muhammadu Buhari‘s administration had current the taxation of N10 per litre tax on SSBs on Dec. 2021.