Business
Nigerians to pay new taxes on beer, imported vehicles, plastics – FG


Nigerians to pay new taxes on beer, imported vehicles, plastics – FG
The Federal Government has introduced new set of taxes on beer, imported vehicles and single use plastics.
It has also added to the list of items banned from being imported into the country.
Under the newly introduced taxes, the Federal Government will charge N75 per litre of beer or stout imported into Nigeria.
According to the Minister of Finance, Zainab Ahmed, N75 per litre will be charged on “beer and stout including all alcoholic beverages and beer not made from malt- wether fermented or not fermented” in 2023.
This new excise duty on beer and stout will be increased to N100 per litre in 2024.
Before the new rates, the government taxed imported alcoholic beverages using valorem rates- levying of tax or customs duties) proportionate to the estimated value of the goods or transaction concerned. Now there is a specific rate not an estimate.
The same excise rate for beer will be applied to the importation of wine.
Under the tax laws, two litre engine vehicles will attract an Import Adjustment Tax (IAT) of two percent while vehicles with four litre engines and above will attract four percent IAT with effect from 1June, 2023.
The Federal Ministry of Finance Budget and National Planning quietly issued a circular (HMFBNP/MDAs/circular/2023FP/04) to all Ministries, Departments and Agencies on April 20, 2023 informing them of the new developments.
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Details of the recent tax regimes contained in the new Fiscal Policy Measures (FPM) documents and approved by President Muhammadu Buhari were revealed by Mr. Taiwo Oyedele of PricewaterhouseCoopers on Twitter.
The Federal Government has also revised the import prohibition list with the inclusion of used motor vehicles above 12 years from the Year of manufacture; Paracetamol tablets Syrups; Cotrimozazole tablets and Syrups; Metronidazole tablets and Syrups and Chloroquine tablets and Syrups.
Also included on the list are Folic acid tablets; Vitamin B Complex tablets (except modified release formulations); Multivitamin tablets, capsules and syrups (except special formulations); Aspirin tablets (except modified release formulations and soluble aspirin).
Others are: Magnesium trisilicate tablets and suspensions; Piperazine tablets and syrups; Levamisole tablets and syrups; Ointments penicillin/gentamycin; Pyrantel pamoate tablets and syrups; Intravenous Fluids (Dextrose, Normal Saline etc); Waste pharmaceutiques; and Mineral or chemical fertilisers containing the three fertilising elements nitrogen, phosphorus and potassium (NPK)
The Federal Government also introduced a Green Tax by way of excise duty on Single Use Plastics (SUPs) including plastic containers, films and bags at the rate of 10 percent.
An Import Adjustment Tax (IAT) levy has been introduced on motor vehicles of 2000 cc to 3999 cc at 2 percent while 4000 cc and above will be taxed at 4 percent.
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With effect from 1st June, 2023, “vehicles below 2000cc, mass transit buses, electric vehicles, and locally manufactured vehicles are exempted”.
The circular hrested the matter over the imposition of five percent excise duty on telecommunication services introduced via the Finance Act 2020 and prescribed in the Official Gazette No. 88, Vol. 109 of 11 May 2022 approved by the President.
Going forward, the five percent tax will apply to mobile telephone services (GSM), fixed telephone and internet services- postpaid and prepaid.
Under the Supplementary Protection Measures (SPM) as it relates to the implementation of the ECOWAS Common External Tariff 2022-2026, the circular stated that the changes are effective from 1 May 2023 subject to 90-days grace period for importers who had opened Form M before 1 May 2023.
Items on the list include rice, woven fabrics, ceramics tiles and sinks, steel, containers for compressed or liquified gas, aluminum cans, washing machines, electric generating sets and rotary converters, smart phones, new and used passenger motor vehicles and electricity meters. The applicable duties for most of the items are unchanged from the 2022 FPM rates.
Nigerians to pay new taxes on beer, imported vehicles, plastics – FG
Nation/Platinum
Auto
How Tina Turner beyond music also rocked Jaguar cars


Tina Turner, a rock icon, was also Jaguar cars lover
Rock and Roll icon Tina Turner who died on Wednesday May 24 at her home in Switzerland at age 83, left many legacies behind beyond just her epic music career.
She was an automobile enthusiast too, owning and loving premium cars throughout her life.
“One of my favourite escapes was driving my Jaguar,” she wrote in her autobiography.
She became one of those celebrities who had one of the biggest influences in the car world.
Turner always found solace in automobiles, notably her white Jaguar XJ6, which she received as a gift from Sammy Davis Jr.
The late icon’s Jaguar XJ6 and a Jaguar E-Type gave her a much-needed taste of freedom, car.com.au notes in a report.
According to the Nation World, Tina Turner’s love for high-performance luxury cars began way back in 1971, when Sammy Davis Jr. got a Jaguar XJ6 as a special gift in the name of sport. The car had a 4.2-litre inline six-cylinder engine, delivered a power of nearly 250 horsepower and offered 384 Newton-meters of torque.
Another Jaguar car, XK-E, was gifted to her by her ex-husband and musical collaborator, Ike Turner.
The XK-E bore a “1 Tina” licence plate and became a point of contention during the couple’s divorce in 1978, according to a report by Car & Driver, an online auto reviewer.
“To my relief, the judge ruled in my favour,” Turner wrote in her 2018 autobiography, My Love Story.
“So I walked out of that courtroom with just my name. Oh, and two Jaguars—cars that had been given to me personally.”
Following the divorce, Turner reinvented herself and her career out of necessity. In 1984, her album Private Dancer was released and became a huge commercial success, selling 10 million copies globally.
Turner became a regular name on the pop music charts with songs like “What’s Love Got to Do With It,” “Better Be Good to Me,” and “Private Dancer.”
With her star on the rise and three new Grammy awards in her trophy case, Turner starred alongside Mel Gibson in the third instalment of the post-apocalyptic Mad Max film series, Mad Max beyond Thunderdome.
She recorded two new songs for the film, one of which netted her a fourth solo Grammy award.
She would ultimately win eight over the course of her career, with one early in her career shared with Ike for their hit song “Proud Mary.”
As her musical and film success pushed her star ever higher, Plymouth tapped Turner for a series of television commercials for its lineup of cars, including the Acclaim sedan and the Laser sports coupe, a car that won a 10Best award from Car and Driver in 1989.
While not exactly Jaguars, Turner’s love for the cars and her on-camera joie de vivre made for some compelling marketing for Plymouth.
In her trademark purr, she was pictured in the rear seat of an Acclaim saying: “Now this car is built for comfort. I wonder what else we have in common.”
Turner lived her life out loud and used music to share her personal struggles, making her a relatable rock star unlike any other.
Her automotive enthusiasm is something she cherished and shared too, even though she will be remembered mostly for her contributions to the entertainment industry.
Aviation
Finally Sirika delivers Nigeria Air, plane lands at Abuja airport


Finally Sirika delivers Nigeria Air, plane lands at Abuja airport
The Nigeria Air aircraft has landed at the Nnamdi Azikiwe International Airport (NAIA), Abuja.
Hadi Sirika, minister of aviation, disclosed this in a tweet on Friday, ending doubts about the new national carrier becoming a reality.
The aircraft was earlier in the day sighted at Addis Ababa Bole International Airport in Ethiopia preparing to take off.
Sirika had stated that the aircraft was on its way to Nigeria in less than 24 hours.
The development however created some uproar as some stakeholders questioned the rationale behind the launch of a national carrier barely 72 hours to the end of President Muhammadu Buhari administration.
They wondered how the aircraft could fly into the country without getting an Air Operating Certificate from the Nigeria Civil Aviation Authority.
AON suit against new airline
Nigeria Air’s plan to obtain the Air Operator Certificate (AOC) from the NCAA was hindered with the Airline Operators of Nigeria (AON) filing a restraining order to stop the aviation regulator from issuing the certificate.
The restraining order letter dated April 19, 2023, came via lawyer representing the AON, Abubakar Nuhu Ahmed, warning the NCAA against taking action that would ridicule the integrity of the agency.
Aviation
Breaking: Nigeria Air plane sighted at Addis Ababa airport, to land in Abuja today


Breaking: Nigeria Air plane sighted at Addis Ababa airport, to land in Abuja today
The first aircraft of a new national carrier. Nigeria Air, was early Friday sighted at Addis Ababa Bole International Airport in Ethiopia.
The aircraft is billed to land at the Nnamdi Azikiwe International Airport, Abuja, later today.
Aviation Minister, Hadi Sirika, had stated that an aircraft in Nigeria Air colours is on its way to Nigeria in less than 24 hours.
The development has however created some uproar as experts, and stakeholders questioned the rationale behind the launch barely 72 hours to the end of President Muhammadu Buhari administration.
They wondered how the aircraft could fly into the country without getting an Air Operating Certificate from the Nigeria Civil Aviation Authority.
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