Skip to main content

Featured post

Marketers Will Pay Naira for Dangote Fuel -IPMAN

Aliko Dangote Refined petroleum products from the $20bn Dangote Petroleum Refinery are to be sold in naira and not in the United States dollar as speculated in some quarters, oil marketers clarified on Monday. Dealers in the downstream oil sector also stated that the registration process for marketers at the refinery was still ongoing, as many operators had continued to register with the plant. It was further gathered that officials of the Nigerian Midstream and Downstream Petroleum Regulatory Authority were meeting with the management of the refinery to perfect the pricing template for products produced by the facility. On January 12, 2023, the Dangote Petroleum Refinery announced the commencement of production of Automotive Gas Oil, also known as diesel, and JetA1 or aviation fuel. The President, Dangote Group, Aliko Dangote, had in a statement issued by the firm, said, “We have started the production of diesel and aviation fuel, and the products will be in the market within this mon...
Post a Comment
Read more
Labels

President Bola Ahmed Tinubu has signed four executives orders to reduce tax burden on businesses


President Bola Ahmed Tinubu has signed four executives orders to ease some of the tax burdens on businesses and individuals including: 


1. Customs, Excise Tariff (Variation) Amendment Order, 2023 to: 


a) Postpone the commencement date of the Fiscal Policy Measures as contained in the Customs, Excise Tariff, Etc (Variation) Order 2023 from 27th March 2023 to 1st August 2023 in line with the National Tax Policy. 


b) Suspend the 5% excise tax on telecommunication services 


c) Suspend the excise duties escalation on tobacco and alcoholic beverages. This means that the approved excise duties rates previously approved for 2022-2024 will continue to apply on these products


d) Suspend the newly introduced excise tax on Single Use Plastics


e) Suspend the green tax by way of Import Tax Adjustment levy on certain categories of vehicles. 


2. The Finance Act (Effective Date Variation) Order, 2023 to defer the commencement date of the changes contained in the Act from 28th May 2023 to 1st September 2023.

 This is to ensure compliance with the minimum of 90 days advance notice for tax changes as contained in the 2017 National Tax Policy.

Email Post
Labels:

Comments

Post a Comment