The Federal Authorities has disclosed its cause for introducing an excise responsibility of N10/litre on all non-alcoholic, carbonated and sweetened drinks.

Talking in the course of the public presentation of the 2022 funds on Wednesday in Abuja, Minister of Finance, Price range and Nationwide Planning, Zainab Ahmed, mentioned the choice was within the curiosity of Nigerians.

The minister mentioned the excise responsibility on gentle drinks would discourage extreme consumption of sugary drinks which contributes to diabetes, weight problems amongst others.

Ahmed added that the brand new tax would assist increase revenues for the well being sector and different vital expenditures.

The minister disclosed that the brand new coverage launched is within the 2021 Finance Act signed into legislation by President Muhammadu Buhari on December 31, 2021.

She mentioned: “There’s now an excise responsibility of N10/ per litre imposed on all non-alcoholic and sweetened drinks.

“And that is to discourage extreme consumption of sugar in drinks which contributes to quite a lot of well being circumstances together with diabetes and weight problems.

“But in addition used to boost excise duties and revenues for health-related and different vital expenditures.

“That is in line additionally with the 2022 funds priorities.”

Recall that in 2019, the finance minister had revealed that the federal authorities might introduce excise responsibility on carbonated drinks.

Additionally, the Comptroller-Common of the Nigeria Customs Service (NCS), Hameed Ali, had proposed the gathering of excise responsibility on gentle drinks in 2021.

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By admin