FG plots fresh taxes in petroleum products, beverages.

The Federal Government is considering imposing new taxes to fund reliefs proposed for businesses in the 2021 Appropriation act.

The Nigerian Customs service has also proposed imposing a 1.50 Naira levy on each litre of petroleum product bought in the country. Non-alcoholic beverages are also to be taxed like alcoholic drinks and tobacco.

This proposal was brought forth to the House of Representatives committee by the Controller-General of the service, Col. Hameed Ali (retd.) on Thursday.

The customs boss explained to the lawmakers that the service had designed various strategies to improve revenue generation in 2021. Part of the programs to be executed is e-Customs, which will make its operations electronic and automated.

He added that the downward review of tariffs on new and luxury cars would encourage massive importation of vehicles into Nigeria and further increase the revenue base of the government. Also, carbonated drinks should also be taxed as they are equally injurious to our health like the alcoholic drinks.



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