Fiscal commission recovers N474m excise duty from Guinness Nigeria

Fiscal commission recovers N474m excise duty from Guinness Nigeria

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) on Monday said it had retrieved a previously unremitted  excise duty  worth N474 million from beer maker, Guinness Nigeria Plc.

Elias Mbam, the commission’s chair, disclosed in a statement released in Abuja by RMAFC’s spokesman, Christian Nwachukwu, that the revenue had been transferred into the Federation Account, noting the agency’s inability to make the remittance originally.

The action is part of the results of the fiscal commission’s oversight efforts on a number of manufacturers in Nigeria that pay excise duties into the Federation Account.

“Excise duty  is one of the major revenues collected by the Nigerian Customs Service into the Federation Account which is currently recording low revenue generation because of noncompliance by some manufacturing industries,” Mbam said.

The RMAFC head is optimistic that giving focus to excise duty payment into government coffers by manufacturing firms will rev up the Nigerian government’s revenue mobilisation drive.

The statement also revealed that Hameed Ibrahim Ali, comptroller general of the Nigerian Customs Service, during his visit to the RMAFC headquarters in Abuja, had called for the RMAFC’s backing in the recovery of unremitted income of the Nigerian government, enjoining it to sustain its efforts in preventing revenue leakages.

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