Connect with us

Headline

FG Imposes N10/litre Tax Duty On All Soft Drinks

Published

on

FG Imposes N10/litre Tax Duty On All Soft Drinks

Advertisement

The federal government has introduced an excise duty of N10/litre on all non-alcoholic, carbonated and sweetened beverages.

Onyxnewsng reports that the minister of finance, budget and national planning Zainab Ahmed, said this during a public presentation of the 2022 Appropriation Act in Abuja on Wednesday January 5.

Advertisement

Ahmed said the excise duty was introduced in line with the Finance Act signed into law by President Muhammadu Buhari on December 31, 2021. She also added that this might discourage excessive consumption of sugar beverages which contributes to diabetes, obesity among others.

FG Commences New Employment Scheme For Artisans January 2022
Advertisement

According to the minister, “There’s now an excise duty of N10/ per litre imposed on all non-alcoholic and sweetened beverages.

“And this is to discourage excessive consumption of sugar in beverages which contributes to a number of health conditions including diabetes and obesity.

“But also used to raise excise duties and revenues for health-related and other critical expenditures.

Advertisement

“This is in line also with the 2022 budget priorities,” Zainab Ahmed announced.

Advertisement
Facebook Comments

Pages

Facebook

Copyright © 2022 Onyxnews Nigeria