shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » MAN Kicks Against Excise Duty On Carbonated Drinks

MAN Kicks Against Excise Duty On Carbonated Drinks

by Joshua
December 13, 2022
in Featured, News

The carbonated soft drinks Group of the Manufacturers Association of Nigeria has stated that the Federal Government’s claim to add 20 per cent Ad-Valorem Excise Tax on carbonated soft drinks in a bid to raise taxes for investment into health is misleading.

carbonated drinks

In a statement, the group said, “Citizens’ health is a significant responsibility of all governments, and any action to protect citizens’ health is desirable and should be supported. But the false attribution of sugar-related ailments to a single cause or product is wrong.”

It added, “Firstly, the group agrees that 70 per cent of citizens’ medical bills in the country are private expenses and do not involve the government.

“The call for the government to raise taxes to cover these private expenses is perplexing and inconsistent with best global tax practices that place the burden or incidence of tax on a product to cover the cost to the government of treatment of patients that consume the product.”

According to the group, the cost of carbonated drinks goes higher in view of the reality of an additional excise tax and has multiplier effects. It stated that while controlling sugar consumption is essential, raising taxes is not the solution.

It said the one way to control sugar consumption was to set and enforce regulations around the amount of sugar used in carbonated drinks and create a social awareness programme explaining the consequences of excessive sugar consumption.

The group also quoted an economic analyst, Mr Teslim Shitta-Bay, who said, “Yes, the health issue can be connected to economic development but in this case, there is no justification to use health to rationalise simply because the carbonated soft drinks sector has not violated the regulations.”

Read Also:  235 NSDP Beneficiaries Depart For India, Greece

The statement further added, “The FGN needs revenue, and rightly so. On a net position, the government targets a total of N81bn in collection with the successful implementation of the proposed additional 20 per cent Ad-Valorem Excise Tax, but the N10/per litre tax on carbonated non-alcoholic drinks has already led to a 16 per cent fall in industry revenue.

“Given that, Shitta-Bay affirmed that the ugly scenario which would be created will affect the overall economic productivity which government is trying to protect.

“He averred that a PwC study shows that the expected revenue government intends to generate from the proposed additional 20 per cent Ad-Valorem excise tax is about N81bn, and a cursory look at the reduction in Value Added Tax, Company Income Tax, and Personal Income Tax, there would be about N200bn unclaimed tax being threatened, which is not good for the economic recovery policy of an emerging market economy like Nigeria. The meaning is that the government would not meet its desired increased net revenue target from the sector in 2022/2023.”

shippingposition

Kindly like us on Facebook/twitter


Tags: MAN

Related Posts

BREAKING: President Buhari Commissions Dala Inland Dry Port

BREAKING: President Buhari Commissions Dala Inland Dry Port

January 30, 2023
Despite Commissioning, Infrastructure Deficits Delay Actual Commercial Operations At Lekki Port By Months  

Despite Commissioning, Infrastructure Deficits Delay Actual Commercial Operations At Lekki Port By Months  

January 30, 2023
Suspense At CRFFN As Governing Council Considers Reappointing Nwakohu As Registrar    

Suspense At CRFFN As Governing Council Considers Reappointing Nwakohu As Registrar    

January 30, 2023
Lawyers Pessimistic About Maritime Bills Awaiting Passage, President’s Assent     

Lawyers Pessimistic About Maritime Bills Awaiting Passage, President’s Assent     

January 30, 2023

Latest News

LASWA Trains School Children in Riverine Public Schools in Epe Swimming Lessons 

LASWA Trains School Children in Riverine Public Schools in Epe Swimming Lessons 

January 30, 2023

QUESTION OF THE WEEK: What is “Shipped On Board” in Logistics?

SHIP TALK: Different Types Of Bill Of Lading

Shipping Company Sentenced in MARPOL Violation Case, Engineer Acquitted

INCREDIBLE: Boy Ends up Accidentally Traveling 1600NM in a Locked Shipping Container

Minister Hails Military’s Fight Against Piracy In Gulf Of Guinea

U.S. Naval Commander Attributes Drop In Piracy To Obangame Exercises

Here’s Welcoming Lekki Deep Seaport

Do you think the Federal Government is sincere about the CVFF disbursement?

BREAKING: President Buhari Commissions Dala Inland Dry Port

VESSELS EXPECTED AT LAGOS PORTS AS AT 30TH JANUARY, 2023.

Despite Commissioning, Infrastructure Deficits Delay Actual Commercial Operations At Lekki Port By Months  

kindly like our Facebook page

Health

Unhealthy Environment Causes 12.6m Deaths Worldwide, WHO Says
Health

Unhealthy Environment Causes 12.6m Deaths Worldwide, WHO Says

December 19, 2022

The World Health Organisation has said that the number of people estimated to have died as a result of living...

Health Benefits And Side Effects Of Bitter Leaf

Health Benefits And Side Effects Of Bitter Leaf

December 12, 2022
More Women May Die During Childbirth In West Africa — Report

More Women May Die During Childbirth In West Africa — Report

December 12, 2022
The Many Wonderful Uses Of Onions

The Many Wonderful Uses Of Onions

December 5, 2022
Nigeria Yet To Achieve 70% COVID-19 Immunisation Coverage, Says NPHCDA

Nigeria Yet To Achieve 70% COVID-19 Immunisation Coverage, Says NPHCDA

December 5, 2022
COVID-19 Cases Increasing, Continue With Preventive Measures — UITH-ARD Warns

COVID-19 Cases Increasing, Continue With Preventive Measures — UITH-ARD Warns

December 5, 2022
Panic As Monkeypox Spreads To 32 States, Cases Now 604

Panic As Monkeypox Spreads To 32 States, Cases Now 604

November 28, 2022
Over 1bn Youths Risk Hearing Loss From Headphones, Loud Music — Study

Over 1bn Youths Risk Hearing Loss From Headphones, Loud Music — Study

November 28, 2022
Consuming Undercooked Meat May Lead To Tuberculosis — Epidemiologist

Consuming Undercooked Meat May Lead To Tuberculosis — Epidemiologist

November 28, 2022
Infertility Red Flags Men, Women Should Not Ignore – Experts

Infertility Red Flags Men, Women Should Not Ignore – Experts

November 28, 2022

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition