The Nigeria Customs Service (NCS), Lagos Industrial Command, has sensitised excise duty companies on the implementation of the 2023 Fiscal Policy on plastics and new duty payable on alcoholic beverages.<\/p>\n\n\n\n
Customs Area Controller of Lagos Industrial Area Command, Comptroller Queen Ogbudu, said, during the sensitisation programme in Lagos on Tuesday that the payment for excise on plastic would start this month.<\/p>\n\n\n\n
Ogbudu said that there were only duties on carbonated drinks before the plastic regime with a specific rate of N10 per litre.<\/p>\n\n\n\n
She, however, noted that some alcoholic beverages duties had been increased as stout and beer factories that were initially paying N40 per litre, now pay 20 per cent Ad Valorem and N75 per litre, respectively.<\/p>\n\n\n\n
She pointed out that companies that produce alcohol beverages, such as brandy, rum, vodak and whisky had 30 per cent Ad Valorem and specific rate of N150.<\/p>\n\n\n\n
Ad Valorem is a form of taxation based on the value of transaction or personal property calculated on percentage of the products.<\/p>\n\n\n\n
She said that the purpose of the meeting was to further clarify the Federal Government\u2019s approval for implementation of the 2023 Fiscal Policy.<\/p>\n\n\n\n
\u201cLetters have been distributed to the affected companies and I am happy that many of them have been coming for clarification.<\/p>\n\n\n\n
\u201cWe are aware that those of them coming under this regime for the first time will find it difficult to adapt, but as the saying goes, nothing good comes easy.<\/p>\n\n\n\n
\u201cThis is a price we all have to pay for the common good of our country. Our doors are open for more clarifications where necessary; for a smooth and friendly relationship,\u201d she said.<\/p>\n\n\n\n
She noted that the public relations units of the headquarters had been sensitising the publice to ensure that more companies key into the new regime.<\/p>\n\n\n\n
She said her operations team were on top of the situation to ensure that all excise duty companies were brought onboard.<\/p>\n\n\n\n
She also said that the command had gotten 29 factories into plastics on board, while many of those involved carbonated and alcoholic had also joined.<\/p>\n\n\n\n
Ogbudu said that the penalty for non-payment of duty was twice in value of payment that was meant to be paid.<\/p>\n\n\n\n
On revenue generated this year, the customs boss noted that there was an improvement when compared with last month, despite with the crash crunch ealier in the year.<\/p>\n\n\n\n
\u201cI appreciate the traders because I know it is not easy for them A lot of them wrote to the office that they had produced but had no buyers and that they had always tried to pay.<\/p>\n\n\n\n
\u201cThe traders should understand that we are implementors of government policies. They should not forget that it\u2019s money generated by customs service with other arms of government that generate revenue that is used for running the current expenditure in the country.<\/p>\n\n\n\n
\u201cOil is for settlement of external debts. So, for Nigeria not to fail or collapse, they should continue with their payment. Somebody has to pay the sacrifice for the future generations and I appreciate them for their cooperation,\u201d she said.<\/p>\n\n\n\n
Some of the companies that participated at the stakeholders meeting were Nigerian Bottling Company, Niger Belt company, 7up bottling company, Lacasera, Coco House West Africa and others.<\/p>\n\n\n","protected":false},"excerpt":{"rendered":"
The Nigeria Customs Service (NCS), Lagos Industrial Command, has sensitised excise duty companies on the implementation of the 2023 Fiscal Policy on plastics and new duty payable on alcoholic beverages. Customs Area Controller of Lagos Industrial Area Command, Comptroller Queen Ogbudu, said, during the sensitisation programme in Lagos on Tuesday that the payment for excise […]<\/p>\n","protected":false},"author":2,"featured_media":2282,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1366,949],"tags":[490],"class_list":["post-50725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-economy","tag-customs","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n