Africa Business News

The Federal Government says 63 items have been exempted from Value-Added Tax. Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, says the exempted items are contained in an official gazette for the Value Added Tax (Modification) Order, 2024. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced the introduction of concessions to revitalise the oil and gas industry to boost Nigeria’s upstream and downstream sectors. The minister unveiled two major fiscal incentives. They included VAT modification order 2024 and notice of tax incentives for deep offshore oil and gas production, following the Oil and Gas Companies (tax incentives, exemption, remission, etc.) Order 2024.Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.