At a Policy Breakfast meeting last week in Abuja, Chief Superintendent of Customs, Department of Excise, Free Trade Zone, and Industrial Incentives Dennis Ituma announced this.
Ituma stated that the regulation went into effect on Wednesday, June 1, 2022.
The Finance Act, which President Muhammadu Buhari signed into law on December 31, 2021, also included the 2022 Appropriations Bill and included the N10 per litre sugar tax.
According to Ituma “The N10 per litre of Sugar-Sweetened Beverages has been implemented on June 1, by July 21, all excise duties must have been collected and paid into the federation account.
“It should interest you that taxation on SSBs was a policy of the Federal Government in 1984 but was stopped in January 2009.
“Previously both SSBs, alcoholic drinks and tobacco were all taxed until 2009 when SSBs was removed from taxable beverages.
“Only alcoholic drinks and tobacco generates N414 billion, SSBs will further increase the revenue generated from drinks.”
