Have you ever wanted to be a part of an exciting, vibrant, and dynamic industry? The Sugar Tax Engagement – a stakeholders’ engagement session – is the perfect opportunity. This is a hybrid event that will bring together those who are invested in the Sugar Tax for an engaging discussion on administering Nigeria Sugar Tax
The Sugar Tax was implemented to help reduce the consumption of carbonated drinks to improve public health and also generate the much-needed funds for the government following the financial hit of the covid-19 pandemic. Since its implementation, however, there has been some debate over whether or not the tax has reached its intended goal. This event will bring together those who support and oppose this law to have an honest discussion about what it can do for our community.
The Sugar Tax is a conversation that is difficult for anyone to remain neutral about—both sides have good points. The idea behind the tax makes sense: if we raise the price of carbonated drinks, people will be incentivized to substitute them with healthier beverages. However, as with any piece of legislation, this is only one side of the story. Opponents of the tax argue that it unfairly targets minorities and low-income communities and does nothing but raise costs for businesses and consumers overall. Supporters believe that people should be able to make their own choices about what they eat and drink but also believe that it’s important to show those who may not be able to afford alternatives how much better off they will be if they make healthier decisions.
While both sides certainly have valid points, I think we can all agree that it’s important to discuss this topic in an open forum where everyone can feel comfortable expressing their thoughts and concerns without fear of reprisal.
The engagement is an initiative of Taxaide Professional Services Limited. Taxaide is an indigenous tax management firm with clients across various sectors of the Nigerian economy, who have over the years ensured that a core aspect of our practice is an active process of engagement with fiscal regulators/administrators, such as the Federal Ministry of Finance, Budget and National Planning (FMFBNP), the Federal Inland Revenue Service (FIRS), the Nigeria Customs Service (NCS), among others.
The theme of the engagement is “Administering Nigeria’s Sugar Tax: A stakeholders’ Engagement Session” and it is expected to have in attendance leadership of the Federal Ministry of Finance, Nigerian Customs Service, Federal Inland Revenue Service, and representatives of companies producing carbonated sweetened/non-alcoholic drinks.
The Sugar Tax engagement is sponsored by Taxaide Technologies Limited (Taxtech), Anaje Olumide Oke and Akinkugbe (AO2LAW), 21Search, Taxaide Global Logistics (TGL), and NDPR Academy
The event is scheduled to hold today; please see the details below:
Date: Thursday, 26th of May 2022
Participation is free and intending participants can join by clicking the link