Customs lauds Nigerian Breweries for prompt payment of taxes

The Nigeria Customs Service (NCS) has commended Nigerian Breweries Plc for its prompt payment of taxes and other revenues, pointing out that its Ama Plant accounts for the bulk of its revenue in the South-East.

The Customs Area Con­troller for Enugu/Anambra/ Ebonyi Command, Mr. Kasim Ajiya, who disclosed this on Tuesday at Nike Lake Ho­tel, Enugu during the NB Plc stakeholders night said 90 per cent of its revenue collection in the South-East comes from the Nigerian Breweries.
Ajiya also disclosed that the only excisable item in the area command under the Com­mon External Tariff (CET) Schedule 5 are alcohol and spirits at the duty rate of 20 per cent, adding that his com­mand’s revenue target for the year 2014 was N12.3 billion at a monthly average of N1.03 billion.
He also said the command’s revenue collection between January and October this year stood at N6.1 billion, which represents 59.89 per cent of its revenue target for the period under review.
Ajiya, however, pointed out that there was a shortfall of N4.1 billion from January to October 2014 when compared with the command’s target of N10.3 billion for the period.
The area commander also disclosed that the 2014 gen­eral revenue collected by NCS at the last count was N800 bil­lion, which covered the period from January to October 2014, adding that a balance of N200 billion was needed to attain the N1 trillion target for the year.
He also said the national revenue target given to NCS by the Federal Government for 2015 is N916 billion.
“This figure is lower than the N1.3 trillion national tar­get for the year 2014 owing to the proposed take-off of the common external tariff due to commence on January 1, 2015.
“Nigeria stands to lose at least N400 billion owing to the low duty rate of the common external tariff. This is a sac­rifice the nation has to make for economic integration and stability of the West African sub-region,” said Ajiya.
Speaking, the Ama Plant Brewery Manager, Mr. John Richardson, said he was pleased to welcome the stake­holders to the night meant to appreciate their support for the company.