Alcohol Manufacturers Reject 500 % Excise Duty Hike - Business - Nairaland
Nairaland Forum / Nairaland / General / Business / Alcohol Manufacturers Reject 500 % Excise Duty Hike (759 Views)
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| Alcohol Manufacturers Reject 500 % Excise Duty Hike by Kingspin(m): 12:18am On Jun 07, 2018 |
Lagos - The Distillers and Blenders Association of Nigeria (DIBAN) says it is not in support of the new tax regime announced by the federal government. Speaking at a press conference on Wednesday, Patrick Anegbe, DIBAN chairman, said the increased excise duty is contradictory to the ease of doing business executive order. TheCable had earlier reported that the ministry of finance submitted a proposal to President Muhammadu Buhari to increase excise duty on tobacco products and alcoholic beverages effective from June 4. Kemi Adeosun, minister of finance, had said the decision was reached based on the health implications of the items and their revenue potential. “We, the Distillers and Blenders Association of Nigeria (DIBAN), under the auspices of the Manufacturers Association of Nigeria (MAN) reject the new astronomical hike in excise duty being selectively imposed on the domestic wines and spirits. ”For the record, the new duty approved for implementation by the honourable minister of finance translates to an increase in duty from the current average of N30 per litre to N150 in the first year and N200 per litre subsequently. ”This translates to an increase from the current average duty of N270 to N1,350 per case (carton) in the first year and N270 to N1,800 per case from the second year. ”This is an increase of over 500% purely on local wines and spirits with the exclusion of all imported wines, spirits and champagne.” Anegbe said the new excise duty will put 25,000 Nigerians who are direct employees in the sector at risk of losing their jobs and subject employees in industries like packaging industries, bottles, cartons, labels, cork, laminates, glue, ink, printing, laboratory, marketing, consulting, media at risk too. Commenting on the issue, Segun Ajayi-Kadir, MAN director general, said the new excise duty will encourage smuggling and push consumers in the direction of smuggled drinks, which has implications on their health and government revenue. Ajayi-Kadir said the association is open to consultations with the government to settle on a favourable position. https://www.thecable.ng/alcohol-manufacturers-excise-duty-hike |
| Re: Alcohol Manufacturers Reject 500 % Excise Duty Hike by Nobody: 12:24am On Jun 07, 2018 |
Islamic agenda in progress. The fact their religion told the not to drink it means everyone shouldn't drink it. But how do you stop people from drinking what's large?? You increase the price through excessive taxation. Boko haram is becoming child's play. Gej warn us. 10 Likes |
| Re: Alcohol Manufacturers Reject 500 % Excise Duty Hike by vanunu: 12:31am On Jun 07, 2018 |
Islam is not just a religion, but also a way of life. |
| Re: Alcohol Manufacturers Reject 500 % Excise Duty Hike by Kingspin(m): 12:36am On Jun 07, 2018 |
This is what happen when a government unilaterally take a decision without the input of the real sector [Business owners]. Kano can ban alcohol but allow Anambra and Lagos to set their budget from the alcohol sales. I am ready to shout on anybody rejecting restructuring or power devolution. Nigeria need a De-federation government and all of us must wake-up and speak in one voice to meet peace in this country.. . . This policy may not be coming from the Minister, We are been led from behind. 3 Likes 1 Share |
| Re: Alcohol Manufacturers Reject 500 % Excise Duty Hike by SarkinYarki: 12:50am On Jun 07, 2018 |
Don't be decieved this 500 percent tax is not to protect your health but to discourage alcohol production ..tgis is soft sharia in progress 3 Likes |
| Re: Alcohol Manufacturers Reject 500 % Excise Duty Hike by SalamRushdie: 1:31am On Jun 07, 2018 |
Islamization? 2 Likes |
| Re: Alcohol Manufacturers Reject 500 % Excise Duty Hike by RonJeremy: 1:48am On Jun 07, 2018 |
Nigeria has passed it’s used by date.... Break up the shxxthole or become an Islamic Republic 1 Like |
| Re: Alcohol Manufacturers Reject 500 % Excise Duty Hike by IamaNigerianGuy(m): 2:21am On Jun 07, 2018 |
It is not at all evident that Buhari and his appointees possess common sense. 1 Like |
| Re: Alcohol Manufacturers Reject 500 % Excise Duty Hike by Nobody: 2:26am On Jun 07, 2018 |
givan: I know Nigerian lazy youths would rather drink and smoke than work. God knows how many housewives and children will be better for it. Drunkard Christains spending their daily wages in brothels on cheap alcohol, yet their wives and children drink garri. Then some fools will come to nairaland and say buhari must go, after spending 20K of their 55K salary on alcohol before the 15th of the month. 1 Like |
| Re: Alcohol Manufacturers Reject 500 % Excise Duty Hike by nnachukz(m): 4:17am On Jun 07, 2018 |
Does this government care about the ripple effect of her decisions most times? No, not at all. They don't care about making people lose their jobs through their decisions which normally destroys the economy. Rather they take pleasure in watching millions lose their job which in turn makes life hard for the common man, which the same government will turn around and tell you that past regime destroyed the economy hence the hard life the citizens are facing. Leaving their BMC guys to do their normal job for which they are paid by dishing out nonsense analysis of oil price then and now to back up their stupidity to the confusion of some gullible citizens. |
| Re: Alcohol Manufacturers Reject 500 % Excise Duty Hike by kabrudrapist: 4:25am On Jun 07, 2018 |
[s] TheCabal:[/s] |
| Re: Alcohol Manufacturers Reject 500 % Excise Duty Hike by SSPX(m): 4:51am On Jun 07, 2018 |
Time to port to burukutu! Hard times await us all |
| Re: Alcohol Manufacturers Reject 500 % Excise Duty Hike by Nobody: 5:02am On Jun 07, 2018 |
TheCabal: Is it not amazing that the "alleged christian drinkers" are not the suicide bombers, killers and terrorist, they are not the ones pass-marks are reduced for, their end is much more developed than the side of the "non drinkers" and are majorly more peaceful than the "non drinkers"? With your assertions, i think Nigeria deserves a drink.. #cheers |
| Re: Alcohol Manufacturers Reject 500 % Excise Duty Hike by freeze001(f): 5:06am On Jun 07, 2018 |
TheCabal: nnachukz: |
| Re: Alcohol Manufacturers Reject 500 % Excise Duty Hike by fallingstylz: 8:02am On Jun 07, 2018 |
TheCabal: And the Moslems marry up to 4 12-13 year old children and flood environment with drug addicts, beggers, terrorists and more peadophiles... everyone should manage their resources and affairs... parasites |
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