Federal Government officially exempts 63 items from Value Added Tax

The Federal Government of Nigeria on Friday, officially announced the exemption of 63 items from Value-Added Tax (VAT).

According to reports, this is coming on the heels of broader fiscal policy and tax reforms aimed at bolstering various sectors. This includes clean energy, transportation, and oil and gas, among others.

The announcement was contained in a post made by the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, on X (formerly Twitter).

According to Oyedele, the new fiscal measures include the formal extension of VAT suspension on diesel. And the addition of VAT exemptions on items critical to advancing clean energy and sustainable transportation.

Full list of items:

1. CNG/LPG Dual Fuel Vehicles
2. Dedicated LPG Vehicles and CNG/LPG Dual Fuel Vehicles
3. Parts, and semi-knocked down units (for assembly) of CNG and LPG Buses.
4. Parts, and semi-knocked down units (for assembly) of Electric Vehicle
5. Electric Vehicles
6. Electric Vehicles Battery
7. Electric Vehicles Charging System
8. Electric Vehicle Solar Charging System
9. LPG/CNG Conversion Kits
10. CNG Cylinders
11. CNG Cascades
12. CNG Dispensers
13. Gas Generators
14. CNG Trucks (Bobtails and Bridgers; fixed axle and semi-trailers
15. Steel Pipes
16. Steel Valves & Fittings
17. SS Tubes & Fittings
18. Storage Tanks (all sizes)
19. Regulators
20. CNG Pumps and Compressors (all types)
21. Steel
22. Pressure Relief Valves
23. Hydraulic press/Rolling machine
24. Heat Treatment Equipment
25. Liquid Level Guage
26. Pumping Housing and Motors
27. Regulator Body
28. Pressure Gauge

29. Truck Chassis

30. Metering and Measuring Equipment (including weighbridges, filling scales)
31. Dispensing equipment (dispensing scales, nozzles, gas filling systems)
32. Safety Features (emergency shutoff valves, pressure relief valves, excess flow valves, breakaway couplings, quick release couplings)
33. Gas water heaters
34. Gas burners for industry
35. Gas boilers
36. Gas washing machines and dryers (launderettes) Household or laundry-type washing machines, including machines which both wash and dry.
37. CNG, LPG and Cyrogenic Hoses Tubes, pipes and hoses, and fittings thereof (for example,joints, elbows, flanges) of plastics.
38. CNG truck heads
39. Gas Leak Detectors
40. Gas air conditioners
41. Cylinder refurbishment equipment
42. Blending skid/unit
43. Odourizing unit
44. Chromatography unit (GC)
45. LNG Liquefying Equipment, Heat Exchangers,LNG Vapourizers, Regassification Plant, Liquefied CNG Compression Terminals
46. LNG Plant, Machinery, Pumps, Compressors, Filters (Including Gas Filters), Weighing Machines, Valves Equipment
47. Cyrogenic Storage Tanks, Liquefied CNG Conversion tanks
48. Pipes, Piping Fittings, Flanges used for Liquefied Natural Gas processing
49. Electrical Equipment, including Cables for Liquefied Natural Gas processing
50. Stell Plates, Angles, Bars for Liquefied Natural Gas Processing
51. LNG Related Chemicals
52. Biogas Digester
53. Biogas Compressor
54. De-sulphurization units
55. Dryer
56. Distillation columns for processing biofuels
57. Bio-ethanol refinery equipment
58. Fermentation Tanks
59. Biofuel related Chemicals, Enzymes and Reagents
60. Liquefied Petroleum Gas
61. Compressed Natural Gas
62. Feed Gas
63. Automotive gas oil

source: The Nation

Follow us for more news on our WhatsApp News Channels @

https://whatsapp.com/channel/0029VaC505jB4hdZ5Yx9g82U