Customs Mandates Companies to Register For Excise Duty Payment Within the Next 14 Days

The Nigerian Customs Service (NCS) has given companies a 14-day ultimatum to register their businesses for payment of excise duty. 

This was revealed by the Comptroller Queen Ogbudu of the Lagos Industrial Command on Thursday at a  stakeholders’ meeting held in Lagos. 

Ogbudu said companies that fail to comply after the 14-day grace period will have their premises sealed. “We are appealing to other factories that are not yet under the excise control because they are not aware or they are hiding, they want to avoid paying excise duty, to come forward. 

“We are advising them to come forward and do the needful because in a short while, we are going to go all out for them and by the time we get them, we will seal their premises and make them face the wrath of the law.

“It is not fair that one will have a factory producing sizeable goods and they are not paying excise duty while others are paying to add that the NCS is equally asking for the continuous support of stakeholders, more dedication, patriotism, and openness,” the LCI commander said. 

Ogbudu added that when she resumed, she made sure that a reminder was sent to all your companies before the invitation to come and to keep people informed of the fiscal policy that is duly signed by the finance minister.

“Carbonated and sweetened drinks, including fruit juice, have N10 per litre; beer and stout, N40 per litre; wines, 20 per cent duty and N50 per litre; whiskey, brandy, vodka and rum, have 20 per cent duty and N50 per litre.

“This is the one that concerns us in Lagos Industrial and that is why we are bringing it to your attention,” she said.

She added that factories with Excise Factory Number (EFN) were required to apply for a Revised Entry of Premises.

Excise duties are taxes imposed on goods for their production, licensing and sale.