THE Federal Government is set to introduce 0.5 percent levy on imported goods to raise funds to meet its obligations to the African Development Bank (AfDB), the World Bank, and other multilateral organisations. This is contained in a document titled ‘Invitation to a One Day Public Hearing and Submission of Memoranda on the 2022 Finance Bill,’ released by the House of Representatives Committee on Finance. The new levy was introduced into the 2022 Finance Bill under Sector 13 for Customs, Excise, Tariff, etc. (Consolidation) Act. According to the document, the planned imported levy is part of the government’s efforts to checkmate…
Author: Lekan Adeyeye
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