In a curious manner, the federal government has announced an additional N10 sugar tax on each litre of all non-alcoholic, carbonated and sweetened beverages. The new tax law is contained in the government’s 2021 Finance Act.
According to the Act, the excise duty of N10/litre imposed on all nonalcoholic, carbonated and sweetened beverages was to discourage excessive consumption of sugar in beverages which contributes to diabetes and obesity, among others. Ahmed said the new ‘Sugar Tax’ was introduced to raise excise duties and revenues for health-related and other critical expenditures.
The affected products include Coca-Cola, Pepsi, Sprite and other sweetened beverages that are associated with excess sugar-related illnesses like obesity and diabetes.
According to reports, about four million Nigerians suffer from diabetes linked to excess sugar consumption.
More deail.. Source
No comments:
Post a Comment