Guinness Pays N16 billion Tax to Nigerian Government
Alcohol beverage company, Guinness Nigeria Plc. said it has continued to make notable economic impact in Nigeria, as it paid over N16 billion tax to Nigerian Government in 2016.
The company disclosed this in its 2016 Sustainability Report released on Wednesday.
As contained in the report, Guinness said it paid “over N16 billion in taxes ranging from VAT, employee taxes, Corporate Income Tax, Excise Duties and other taxes.’’
Speaking on the 87 paged report titled, ‘Sustainability: From Grain to Glass,’ Managing Director/CEO of Guinness Nigeria Plc, Mr. Peter Ndegwa said it is one of the ways the company measure its progress against the sustainability and responsibility targets.
Ndegwa added that Guinness remains committed to helping Nigeria meet her Sustainable Development Goals (SDGs) targets, especially in the area of providing access to water and sanitation for the majority of the people.
Major highlights from the Guinness 2016 report include social investments in the Guinness Eye Hospitals, the flagship Water of Life scheme and the Undergraduate Scholarship scheme, which has opened doors of opportunity to many young Nigerians.
Moving forward, the company outlined strategic objectives the attainment of which will put it in better stead to serve its key stakeholders as well as help to strengthen corporate reputation and build a sustainable business.
In the area of business performance, the company said it aims to optimize return on investment for its investors and shareholders through good corporate governance and by implementing the plans that underpin its performance ambition. “Product quality will be sustained through unwavering commitment to providing consumers with beverages that meet the highest standard of quality,” it said.
In the area of innovation, the company said it will continue to leverage on its world class innovation platforms to create high quality products for our consumers, while maintaining an enabling work environment for its employees. In the area of environmental performance, the company said it remains committed to ensuring that its products, processes and operations are safe for the environment.
Guinness also said its corporate social investment will remain focused on impacting lives positively while enhancing the wellbeing of host communities. “The company will continue to sustain initiatives that promote responsible consumption of alcohol and prevent underage drinking and also ensure strict adherence to the principles of responsible marketing of its beverage brands.”
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