- Lagos Industrial Customs sensitizes indigenous excisable companies
Nigeria Customs Service (NCS) has commenced the new excise duty rates payable on plastics and non-alcoholic beverages in line with the implementation of the 2023 Federal Government fiscal policy.
The Lagos Industrial Customs Command revealed this while sensitizing excise duty companies yesterday 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 noted that there were only duties on carbonated drinks before the plastic regime with a specific rate of N10 per litre.
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 percent Ad Valorem and N75 per litre, respectively.
Ogbudu 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.
Ad Valorem is a form of taxation based on the value of transaction or personal property calculated on percentage of the products.
She said that the purpose of the meeting was to further clarify the Federal Government’s approval for implementation of the 2023 Fiscal Policy.
“Letters have been distributed to the affected companies and I am happy that many of them have been coming for clarification. We 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.”
“This 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,” she said.
According to her, the Public Relations unit of the headquarters had been sensitising the public to ensure that more companies key into the new regime even as she stressed that her operations team will ensure that all excise duty companies were brought onboard.
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.
Ogbudu said that the penalty for non-payment of duty was twice in value of payment that was meant to be paid.
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.
“I 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.”
“The traders should understand that we are implementors of government policies. They should not forget that it’s money generated by customs service with other arms of government that generate revenue that is used for running the current expenditure in the country.”
“Oil 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,” she said.
The News Agency of Nigeria (NAN) reports that 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.