Minister of Finance, Zainab Ahmed Reveals Tax Increase On Carbonated Drinks To Begin 2022

Date: 09-10-2021 12:54 pm (3 months ago) | Author: Olusanya Akinrinola
- at 9-10-2021 12:54 PM (3 months ago)
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The Minister of Finance, Budget, and National Planning, Zainab Ahmed has announced a possible increase in the taxation on carbonated drinks, which would lead to a price increase.

Ahmed revealed this at the Public Presentation and Breakdown of the Highlights of the 2022 Appropriation Bill on Friday in Abuja, stating that it will be part of the additions in the 2021 Finance Act which will take effect from January 2022.

She said, “To further enhance independent revenue generation, the government aims to optimise the operational efficiencies and revenue generation focus of the government-owned enterprises.

“The introduction of new and further increases in existing pro-health taxes for example exercise duties on carbonated drinks- this is work in progress but it will happen in the 2021 Finance Act.”

In 2019 Ahmed said the government was insistent on implementing the initiative at a World Bank/International Monetary Fund meetings in Washington DC, United States.

She also noted that there would be penalties for government-owned enterprises that fail to meet the set target in achieving the government’s revenue generation drive.

She said, “Government’s revenue performance and remittances will become enhanced through effective implementation of the Performance Management Framework including possible sanctions should there be default on targets that are set for government-owned enterprises.

“The Finance Bill 2021 will contain measures that will further advance the implementation of the Strategic Revenue Growth Initiative (SRGI).”


Posted: at 9-10-2021 12:54 PM (3 months ago) | Hero
- Goldtime at 9-10-2021 02:33 PM (3 months ago)
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Very soon Nigerian will be levied taxes on each time they got to poop !
Posted: at 9-10-2021 02:33 PM (3 months ago) | Gistmaniac
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- nabeng21 at 9-10-2021 05:06 PM (3 months ago)
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Desperate search for revenue.
Posted: at 9-10-2021 05:06 PM (3 months ago) | Upcoming
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- FloJoJo at 9-10-2021 05:16 PM (3 months ago)
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Why not taxing cows. Each livestock sales are taxed world and why not @ Naija? Angry
Posted: at 9-10-2021 05:16 PM (3 months ago) | Upcoming
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- marijuanaa at 9-10-2021 06:59 PM (3 months ago)
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U will never hear them announcing anything gud
Posted: at 9-10-2021 06:59 PM (3 months ago) | Upcoming
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- Winchester052 at 9-10-2021 09:19 PM (3 months ago)
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Nigerians are already used to suffering
Posted: at 9-10-2021 09:19 PM (3 months ago) | Upcoming
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- constigoldo at 11-10-2021 05:33 PM (3 months ago)
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So that the price will yet go up right.......
Posted: at 11-10-2021 05:33 PM (3 months ago) | Gistmaniac
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