₦airaland Forum

He's trying to ease mobility and transportation of economic goods within the country.

However the translation of these into the middle class and lower class eco- system will take a longer time as the upper class always put a lid and stopper on resources and income distribution downward thereby making it trickle rather than pumping down to them.

An aggressive measure should start from bottom up! Let the rich be forced to pump their amass wealth into the exo-system of the poor and middle class.

No impact at all....... nothing......

straighttalk:
Little or No impact

jamafa:
Some of you go dey talk as if governance is easy.

Go and bring it down

Why not remove VAT on PMS? Why the backpedalling on the naira for crude deal? Why is Nnpc shrouding the fuel distribution costs in secrecy? Why are the NNPC refineries taking forever to be overhauled?

Complete nonsense, this thing only affects the Rich......

The Most retarded Government in the history of Nigeria

Mr. Taiwo Oyedele’s prints all over these tax reforms; kudos to him and his team for a diligent job.

Implementing their recommendations such as those includes in this report is key!

paxonel:
What Tinubu is doing now will never have direct impact until 6 years to come. That is, on the condition that tokumbo cng/electric vehicles takes over Nigerian roads by then

Yinmu ...the evil men are waiting for majority to convert to CNG bf making a kilo to 950naira

Neither here nor there.

Your countrymen are starving and you are making CNG look like rocket science.

Amateurish..

Druggie

Why are solar panels, inverters and batteries not on this list?

APC zombies and Tinubu fan boys are exempted 😕😁🤐🤐🤐🤐🤐

Arostar2023:
How does that affect the economy?

If at this level,you cannot relate how this would affect Nigerian economy positively, I advise you to go back to secondary school and re- enrol for elementary economics.

*Value Added Tax (VAT) Exemptions in Nigeria*


*1. Introduction*


The Nigerian government has introduced new fiscal reforms, exempting 63 items from Value-Added Tax (VAT) to boost the economy. This move aims to stimulate economic growth, promote investment, and encourage the use of environmentally friendly products.


*2. Exempted Items*


1. Agro-chemicals
2. Agricultural machinery and equipment
3. Airplanes and helicopters
4. Ambulances
5. Animal feed
6. Baby products (formula, diapers, etc.)
7. Biogas compressors
8. Biogas digester
9. Bio-ethanol refinery equipment
10. Biofuel-related chemicals, enzymes, and reagents
11. Blood and blood products
12. CNG cascades
13. CNG cylinders
14. CNG dispensers
15. CNG/LPG conversion kits
16. CNG trucks
17. Commercial vehicles (buses, trucks, etc.)
18. Crude oil
19. De-sulphurization units
20. Diagnostic equipment (medical)
21. Distillation columns for processing biofuels
22. Dryer
23. Electric vehicles
24. Electric vehicles battery
25. Electric vehicles charging system
26. Electric vehicle solar charging system
27. Fermentation tanks
28. Fertilizers
29. Firefighting equipment
30. Fishing nets and gear
31. Gas boilers
32. Gas burners for industry
33. Gas generators
34. Gas water heaters
35. Healthcare equipment
36. Helicopters
37. Hospital furniture
38. Industrial machinery
39. LPG/CNG dual fuel vehicles
40. LPG cylinders
41. Medical oxygen
42. Medical vaccines
43. Medicine (prescription)
44. Motorcycles (for agricultural use)
45. Oil rigs and equipment
46. Oxygen concentrators
47. Parts and semi-knocked down units (for assembly) of CNG and LPG buses
48. Parts and semi-knocked down units (for assembly) of Electric Vehicles
49. Personal protective equipment (PPE)
50. Petrochemicals
51. Petroleum products (aviation fuel, diesel, etc.)
52. Pipelines and fittings
53. Pressure gauge
54. Pressure relief valves
55. Processed food products (baby food, etc.)
56. Raw materials (agricultural, mining, etc.)
57. Regulator body
58. Regulators
59. Renewable energy equipment (solar, wind, etc.)
60. Safety equipment (hard hats, etc.)
61. Shipbuilding equipment
62. Steel pipes
63. Storage tanks


*3. Benefits of VAT Exemptions*


1. Increased investment in exempted sectors
2. Job creation and economic growth
3. Reduced costs for businesses and consumers
4. Encourages use of environmentally friendly products
5. Improved competitiveness in global markets
6. Enhanced economic diversification


*4. Implementation*


1. Effective date
2. Applicable to all businesses and individuals
3. VAT exemption certificates to be issued by FIRS
4. Compliance monitoring by relevant authorities


*5. Conclusion*


The VAT exemptions aim to stimulate economic growth, promote investment, and encourage the use of environmentally friendly products.

If only if it will have a positive impact on the current open market price's of the various commodities.
If not, then is deception and mare announcement.

All these items no concern common man, e no concern market woman,

BAT is a nocturnal animal.

So so CN this, LP that

Are these the only problems we're having, what's happening with petrol petrol.

Ph refinery keeps shifting the goalpost, and BAT the nocturnal is the petroleum minister...o, yet no address to that effect.

Ogun kill you....

eteba:
BAT is a nocturnal animal.

So so CN this, LP that

Are these the only problems we're having, what's happening with petrol petrol.

Ph refinery keeps shifting the goalpost, and BAT the nocturnal is the petroleum minister...o, yet no address to that effect.

Ogun kill you....

Do you even know thr meaning of nocturnal?

straighttalk:
Little or No impact

for you

Look at the holes in this and make money if you have financer

Believe this government of crooks at your own peril. Their own is to announce what they will do in the media and they will never follow through. That is the modus operandi of Tinubu and gang. Make media noise and continue with the status quo.Import these things and see whether you will not pay through your nose. Crooks and thieves. Do not take them serious.

Tinubu the greatest fraud to come out of Nigeria. Argue with his policy somersaults.

How does this benefit the masses? This is still a policy for the elites. This government does not know what people are going through.

Good one from FG

BreconHills:
NRS = HMRS

Gbam! His Majesty Revenue Service.

Rushing here to get a reasonable information, only to notice that Seyi and Co must have been awarded another contract. They now officially as announce federal information on X. Nigeria!

Is this an afterthought to include AGO since Dangote is already producing that here? It doesn't make sense to remove VAT from AGO when we know that Dangote is producing already.


This should have been done when the importation of AGO was fully in place.

dre11:
https://punchng.com/full-list-63-items-exempted-from-vat-under-new-fiscal-reforms-by-tinubu/?amp

So there's VAT on phones. Lol