The Youth Action on Tobacco Control and Health (YATCH), an NGO, has appreciated the Federal Government’s plan to increase tobacco tax. The Minister of Health, Prof. Isaac Adewole, on October 25, 2017, said that the government might increase the tax on tobacco. According to the Minister, the increase will be part of deliberate measures to check abuse and prevent smuggling of tobacco products into the country. The Executive Director of the NGO, Mr Seye Omiyefa, said that the increase will go a long way to save Nigerians from direct and second hand smoking which have harmful health effects.
Related Posts
Nigeria presents four tax reform bills to National Assembly
October 08, 2024
Nigeria’s President presented four bills to the National Assembly outlining measures to revise tax laws and modernise Nigeria’s tax system on 3 October 2024. The bills have been forwarded to the House Committee on Finance for review and
Read More Nigeria gazettes VAT modification order 2024, introduces new fiscal incentives for oil and gas sector
October 07, 2024
Nigeria’s Federal Ministry of Finance has unveiled two major fiscal incentives aimed at revitalising Nigeria's oil and gas sector on 2 October 2024. These are Value Added Tax (VAT) Modification Order 2024, which has been published in the
Read More Nigeria gazettes new withholding tax regime
October 04, 2024
Nigeria’s Federal Ministry of Finance has announced the Deduction of Tax at Source (Withholding) Regulations 2024 has been published in the official gazette on Wednesday 2 October 2024. The commencement date of the new Regulations is 30
Read More
Nigeria to launch e-invoicing for improved tax compliance
September 24, 2024
Nigeria’s Federal Inland Revenue Service (FIRS) announced it will introduce the FIRS e-invoicing system under the the Tax Administration and Enforcement Act 2007 on 18 September 2024. The FIRS e-invoicing system will be an online digital
Read More Nigeria reinstates cybersecurity levy with reduced rate
September 24, 2024
Nigeria’s Central Bank (CBN) announced that it is reintroducing a 0.005% levy on all electronic transactions conducted by banks and financial institutions under the “Cybercrime (Prohibition, Prevention, etc.) Act, 2015” on 17 September
Read More
OECD: Report on Simplified Peer Review of Nigeria under BEPS Action 14
September 17, 2024
On 16 September 2024 the OECD published the simplified peer review report on Nigeria under Action 14 of the project on base erosion and profit shifting (BEPS). The report sets out the results of Stage 1 of the simplified peer review of the
Read More