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Federal Government announces commencement date for revised excise rates on tobacco and alcoholic beverages

FG announces commencement date for revised excise rates

The Honourable Minister of Finance (“the Minister”), Mrs. Zainab Shamsuna Ahmed, via a communiqué announced the commencement date for 2019 excise rates on alcoholic beverages and tobacco products as 4 June 2019.

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Wole Obayomi

Partner & Head, Tax, Regulatory & People Services

KPMG in Nigeria

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Federal Government announces commencement date for revised excise rates on tobacco and alcoholic beverages

The Minister equally issued clarification on the applicable excise rate on items included under Heading 22.06 of the ECOWAS Common External Tariff (2015 - 2019). The affected items include:

  • Other fermented beverages (e.g. cider, perry, mead);
  • Mixtures of fermented beverages; and
  • Mixtures of fermented beverages and non-alcoholic beverages, not elsewhere specified or included.

The excise rates on these items shall be at a specific rate of N0.30 per CL for 2018, and N0.35 per CL for 2019 and 2020. This is similar to the current excise regime for beer and stout products.                           

For any enquiries on the above, please contact:

Wole Obayomi

ng-fmtaxenquiries@ng.kpmg.com

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