Cooking gas: FG intervenes on rising price, exempts LPG importation from VAT, Customs duty

The Federal Government has removed Value-Added Tax (VAT) and Customs Duty payments from cooking gas imports. 

The Ministry of Finance conveyed this decision in a letter dated November 28, 2023 and addressed to several officials including the Special Adviser to the President on Energy, the Comptroller-General of the Nigeria Customs Service (NCS), and the Chairman of the Federal Inland Revenue Service (FIRS).  

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, signed the letter. The move is geared towards crashing the price of the essential commodity.  

The ministry also directed the Nigerian Customs Service to comply with the presidential directive, dated July 29, 2022, and withdraw all debit notes issued to petroleum marketers who have imported LPG “using codes 2711.1.2.00.00 and 2711.13.00.00 from August 26, 2019, to the present date”.

Other items exempted from VAT and duty payment are LPG cylinders, LPG cascades, gas leak detectors, steel pipes, steel valves and fittings, LPG dispensers, gas generators, and LPG trucks, among others.

Related news

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.