- The federal government is planning to impose taxes on soft drinks

- Zainab Ahmed, minister of finance, budget and planning, says it is part of the need for the government to expand its revenue net

- The minister explains that the government is also looking tax in the the small and medium enterprises

Prices of soft drinks may rise as the federal government, through the minister of finance, budget and planning, Zainab Ahmed, announced on Thursday, October 17, it is planing on new taxes on the products. Speaking on the sidelines of the ongoing annual meetings of the International Monetary Fund (IMF) and the World Bank in Washington DC, the United States, Ahmed said the tax would help the government expand its revenue net.

Denying claims that the nation's borders were shut down because of the need to generate more revenue, the minister said the neighbouring African countries were not cooperating with Nigeria on its efforts at checking the influx of goods into the country.

“We are also looking at introducing excise duties on some categories of products, especially carbonated drinks and VAT on some categories of imports into the country.

"But, it is not all tax increases; there is also a proposal to build tax rates for SMEs. We also increase the minimum tax level to make it easy for people to plan their taxes," the minister said.

Legit.ng earlier reported that the International Monetary Fund (IMF) recently threw its weight behind the proposed tax increase by the Nigerian government.

The IMF said the decision to raise Value Added Tax by 50 percent holds positive prospects for the Nigerian economy.

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https://www.legit.ng/1267825-buharis-minister-zainab-ahmed-confirms-fg-planning-tax-soft-drinks.html

Tax is a lazy approach to generate revenue! FG should cut cost of governance!


Our senators are been overpaid

Na una lazy and miserable amajirins go soffer

Tax the hell outta zombies.

Nsogbu di

Next level... If I hear any Nigerian supporting APC... say Pim... Thunder will scatter, destroy, murder u and ur family's mouth and soul... So just read , smile at it and buy the coke like that...

Very soon they will tax us on the air we breath.
Nonsense and Buhari

tayebest:
Tax is a lazy approach to generate revenue! FG should cut cost of governance!



Our senators are been overpaid

that is the area they don't want to hear at all...


See signature for your landed properties: UniQue Properties (UP)

Imagine.. They are now taxing anything taxable

Apc should have used taxation as campaign now