N75 per litre': Beer, Tokunbo Cars, Phone Calls, Others to Get More Expensive as FG Introduces New Taxes

The Federal Government of Nigeria has introduced a new set of taxes on various items, including beer, imported vehicles, and single-use plastics. The new taxes include a charge of N75 per litre for imported beer or stout in Nigeria.

According to the Nation, Minister of Finance Zainab Ahmed has announced that a charge of N75 per litre will apply to all alcoholic beverages and non-malt beers, regardless of fermentation, starting in 2023.

The excise duty on beer and stout will increase to N100 per litre in 2024. Previously, imported alcoholic beverages were taxed using valorem rates based on estimated value, but now a specific rate has been introduced.

Wine will also be subject to the same excise rate as beer for importation purposes. More new taxes on vehicles, parts Starting from 1st June 2023, vehicles with engine sizes of 2 liters will incur a 2% Import Adjustment Tax (IAT), while those with 4 liters and above will be subject to a 4% IAT, as per the tax laws.

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