News Formal

Treasury grants alcohol industry request for excise tax suspension

  • 📰 TimesLIVE
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 59%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The National Treasury has granted a request by the alcohol industry for a deferment of excise tax on liquor.

Alcohol industry spokesperson Sibani Mngadi said in a statement on Tuesday that the Treasury had proposed a 90-day suspension for the payment of excise tax on alcohol.Mngadi said the sector had last month applied for the deferment of R5.1bn in excise tax due to the SA Revenue Service until the ban on sales is lifted.

In response to the industry request, the Treasury proposed introducing a 90-day deferral on excise taxes to be made in August and September of 2020.Mngadi said the focus was now on reviving the sector as quickly as possible.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 28. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Liquor industry says govt should prepare to lift ban on sale of alcohol
Source: ewnupdates - 🏆 30. / 53 Read more »

Alcohol industry calls for lifting of 'devastating' booze ban | News24The prohibition of alcohol sales is having a devastating effect, with more than 100 000 of the almost one million jobs supported by the alcohol industry having been lost in the first phase of the ban at lockdown level 5 and 4.
Source: News24 - 🏆 4. / 80 Read more »