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Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated - Business - Nairaland

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Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by dre11(m): 8:06pm On Jan 05, 2022
Coke, Fanta prices to increase as FG imposes N10/litre excise duty on carbonated drinks

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

Excise duty is a form of tax imposed on the production, licensing and sale of goods.

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

According to her, the new policy introduced is in the Finance Act signed into law by President Muhammadu Buhari on December 31, 2021.

In 2019, Zainab Ahmed, the minister of finance, had announced that the government may introduce excise duty on carbonated drinks.

In 2020, Hameed Ali, comptroller-general of the Nigeria Customs Service (NCS), had proposed the collection of excise duty on soft drinks.

He had also put forward the same proposal in 2021 at an interactive session on the 2022-2024 medium-term expenditure framework (MTEF), organised by the house of representatives committee on finance.

Apart from the new ‘Sugar Tax’ in section 17, Ahmed said the 2021 finance Act also raised excise duties and revenues for the health sector.

The minister said the excise duty on soft drinks would discourage excessive consumption of sugar beverages which contributes to diabetes, obesity among others.

However, checks by TheCable showed that there are other sources of sugar intake, including alcoholic drinks, biscuits, buns, cakes, dairy products, and savoury food.

“There’s now an excise duty of N10/ per litre imposed on all non-alcoholic and sweetened beverages,” she said.

“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.

“This is in line also with the 2022 budget priorities.”

https://www.thecable.ng/coke-fanta-prices-to-increase-as-fg-imposes-n10-litre-excise-duty-on-carbonated-drinks/amp

8 Likes 4 Shares

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by Amotolongbo(f): 8:10pm On Jan 05, 2022
But Nigerians have a very thick skin o.
Nigerians being able to survive under this Buhari regime needs being studied by Ivy League schools researchers

653 Likes 69 Shares

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by SmartPolician: 8:10pm On Jan 05, 2022
The duty is no surprise because Buhari is looking for the best possible means to repay Chinese loans. The problem is that the man is too old to lead so he won't even know it when his cabinet members re-loot taxpayers money meant to repay the loan. undecided

87 Likes 11 Shares

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by NwaNimo1(m): 8:14pm On Jan 05, 2022
Another new tax........upon the 'sugar tax' dem don add the 'carbonated' (fiz) tax.

[img]https://c./5hDWe4di8mwAAAAC/whyyy-nooo.gif[/img]

.....awaiting bottle, lid and label tax!

236 Likes 16 Shares

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by BeeBeeOoh(m): 8:16pm On Jan 05, 2022
Nigerians surviving under Buhari should be added in the bible as one of the greatest miracle to ever grace mother earth angry

351 Likes 27 Shares

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by smartasuen(m): 8:20pm On Jan 05, 2022
Despite what is below, we will continue to stay strong and hopeful till Heaven smiles on our endeavours!

129 Likes 11 Shares

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by Maxymilliano(m): 8:25pm On Jan 05, 2022
Na make all of us turn to Cristiano Ronaldo if that will keep us alive to see the end of this catastrophic government

252 Likes 14 Shares

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by kingphilip(m): 8:28pm On Jan 05, 2022
Nigeria when?

Wetin lazy people like us wey no de like cook de use hold body?

Well na to de use groundnut chop bread be that now.

19 Likes

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by chatinent: 8:32pm On Jan 05, 2022
No bi say if they collect all the money naw they account for it.

30 Likes 1 Share

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by MEGA4BILLION(m): 8:40pm On Jan 05, 2022
Keep on taxing the the south then share the proceeds to the north. Wetin concern Aboki with coke.
When will he tax kunu and brukutu?

149 Likes 17 Shares

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by BlackSpanner: 8:45pm On Jan 05, 2022
The government is preparing to leave. Hence the need to start their final looting on time.

And the poor masses will keep on suffering. Yet no increase in someone's take home.

25 Likes 3 Shares

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by RenaissanceGuy: 8:49pm On Jan 05, 2022
That price increase should instead be directed to alcoholic drinks and made twice of its current price. At least it'd discourage people from destroying their liver.

121 Likes 10 Shares

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by slowice(m): 9:06pm On Jan 05, 2022
Japa is the only legit plan as it stands undecided

48 Likes 4 Shares

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by helinues: 9:07pm On Jan 05, 2022
Toh
Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by chariisGRACE(m): 9:15pm On Jan 05, 2022
For those people that included abstinence from carbonated drinks amongst their new year resolutions, this is a boost.

Buhari can be mean sha, make e no face sachet water o.

49 Likes 2 Shares

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by LibertyRep: 9:15pm On Jan 05, 2022
The only thing they won't be able to tax is the air w breathe.

Since the morning will be shared by all of them across party and states, watch out as they all look the other way.

This yoke shall pass too.

20 Likes 1 Share

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by FarahAideed: 9:18pm On Jan 05, 2022
SmartPolician:
Buhari is looking for the best possible means to repay Chinese loan. The problem is that the man is too old to lead so won't even know it when his cabinet members re-loot taxpayers money meant to repay the loan. undecided

The question vis what did he use the loans for ? The Loans have not reflected in the economy so where is it?

28 Likes 2 Shares

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by AntiBeEmCe(m): 9:18pm On Jan 05, 2022
Hehe. Satan is sitting comfortably in Aso Rock. To everybody who voted this disaster into office...may you suffer twice what the others have to suffer because of ur poor judgement and lack of sense.

78 Likes 7 Shares

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by RiceProducers: 9:19pm On Jan 05, 2022
Very good tax. Carbonated drinks are poisons

6 Likes 1 Share

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by rowland545(m): 9:29pm On Jan 05, 2022
Old story....I've been buying a bottle of 50cl coke for 130 now...small 7up DAT was 70 is now 100...


And buhari said PDP is failure.....if this is success then I don't want to b part of it

57 Likes 5 Shares

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by mytime24(f): 9:38pm On Jan 05, 2022
Nawa
Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by BigSarah(f): 9:41pm On Jan 05, 2022
RiceProducers:
Very good tax. Carbonated drinks are poisons

Wahala grin
Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by OmegaAutos: 9:51pm On Jan 05, 2022
very soon, only yahoo boys will be able to afford bread and soft drinks

29 Likes 1 Share

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by Felabrity: 9:52pm On Jan 05, 2022
I got fanta for 250 a week ago

Nothing new

Nigeria is totally fked under Buhari

4 Likes

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by nairaman66(m): 9:53pm On Jan 05, 2022
This government has finally lost it! Every well meaning Nigerians should rise up against this nonsense mafia government!

4 Likes

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by daddytime(m): 9:54pm On Jan 05, 2022
Lol

It is finished.....

I mean, it is finished for diabetes....


grin

What Bubu can not destroy does exist....

Poverty
Insecurity
Kwarruption

The list is endless..

4 Likes 1 Share

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by smile11s(m): 9:54pm On Jan 05, 2022
Ok
Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by Goldbw122(m): 9:54pm On Jan 05, 2022
The government are increasing everything, I don't understand is like they don mean well for this country, or are they not seeing what is going on, what about the promises they promise the masses and what are they doing the exact opposite, this is a very sad incident oooo. Too bad .. nothing is working in Nigeria if you are not a yahoo boy or a very corrupt business man it is very hard to make it, corruption now is now the order of the day,

God go take break for Nigeria situation when we rapture occur oooo...

4 Likes

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by Mko123(m): 9:54pm On Jan 05, 2022
keep on the good work oga BUHARIIIIIIII
We deserved this your favour for voting you

3 Likes

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by chiedu7: 9:54pm On Jan 05, 2022
They never impose tax on things the North consume more than the south.

Just wished Buhari was only ruling the north, let him finish them as he sees ft

9 Likes

Re: Coke, Fanta Prices To Increase As FG Imposes N10/litre Excise Duty On Carbonated by sotall(m): 9:54pm On Jan 05, 2022
More suffering

2 Likes

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