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    Home - FULL LIST: FG Exempts Gas Generators, Dual Fuel Vehicles, 61 Others From VAT

    FULL LIST: FG Exempts Gas Generators, Dual Fuel Vehicles, 61 Others From VAT

    By Farouk AbbasOctober 4, 2024
    Gas Gens 2

    THE Federal Government says 63 items have been exempted from Value-Added Tax (VAT).

    BORNO PATRIOTS

    Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, disclosed this in a post on X on Friday.

    He said the exempted items are contained in an official gazette for the ‘Value Added Tax (Modification) Order, 2024,’ dated September 3, 2024.

    Silk

    It comes two days after the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced the introduction of concessions aimed at revitalising the oil and gas industry to ensure a boost in 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, in accordance with the Oil and Gas Companies (tax incentives, exemption, remission, etc.) Order 2024.

    In the official gazette, the federal government said the provisions of “this order, as they relate to Automotive Gas Oil (AGO) shall be deemed to have commenced on the 1st day of October, 2023”.

    Here is a full list of the items exempted from VAT:

    CNG/LPG Dual Fuel Vehicles
    Dedicated LPG Vehicles and CNG/LPG Dual Fuel Vehicles
    Parts, and semi-knocked down units (for assembly) of CNG and LPG Buse.
    Parts, and semi-knocked down units (for assembly) of Electric Vehicle
    Electric Vehicles
    Electric Vehicles Battery
    Electric Vehicles Charging System
    Electric Vehicle Solar Charging System
    LPG/CNG Conversion Kits
    CNG Cylinders.
    CNG Cascades
    CNG Dispensers
    Gas Generators
    CNG Trucks (Bobtails and Bridgers; fixed axle and semi-trailers
    Steel Pipes
    Steel Valves & Fittings
    SS Tubes & Fittings
    Storage Tanks (all sizes)
    Regulators
    CNG Pumps and Compressors (all types)
    Steel
    Pressure Relief Valves
    Hydraulic press/Rolling machine
    Heat Treatment Equipment
    Liquid Level Guage
    Pumping Housing and Motors
    Regulator Body
    Pressure Guage
    Truck Chassis
    Metering and Measuring Equipment (including weighbridges, filling scales)
    Dispensing equipment (dispensing scales, nozzles, gas filling systems)
    Safety Features (emergency shutoff valves, pressure relief valves, excess flow valves, breakaway couplings, quick release couplings)
    Gas water heaters
    Gas burners for industry
    Gas boilers
    Gas washing machines and dryers (launderettes) Household or laundry-type washing machines, including machines which both wash and dry.
    CNG, LPG and Cyrogenic Hoses Tubes, pipes and hoses, and fittings thereof (for example,joints, elbows, flanges) of plastics.
    CNG truck heads
    Gas Leak Detectors
    Gas air conditioners
    Cylinder refurbishment equipment
    Blending skid/unit
    Odourizing unit
    Chromatography unit (GC)
    LNG Liquefying Equipment, Heat Exchangers,LNG Vapourizers, Regassification Plant, Liquefied CNG Compression Terminals
    LNG Plant, Machinery, Pumps, Compressors, Filters (Including Gas Filters), Weighing Machines, Valves Equipment
    Cyrogenic Storage Tanks, Liquefied CNG Conversion tanks
    Pipes, Piping Fittings, Flanges used for Liquefied Natural Gas processing
    Electrical Equipment, including Cables for Liquefied Natural Gas processing
    Stell Plates, Angles, Bars for Liquefied Natural Gas Processing
    LNG Related Chemicals
    Biogas Digester
    Biogas Compressor
    De-sulphurization units
    Dryer
    Distillation columns for processing biofuels
    Bio-ethanol refinery equipment
    Fermentation Tanks
    Biofuel related Chemicals, Enzymes and Reagents
    Liquefied Petroleum Gas
    Compressed Natural Gas
    Feed Gas
    Automotive gas oil

    Nigerian TAX Reform - Federal Goverment
    National Orientation Agency Page UP
    FG Gas Gens VAT
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    View 1 Comment

    1 Comment

    1. Okpokirinikoeze Uwamdionyenma on October 5, 2024 7:34 pm

      And has the new VAT policy impacted on the common man who has no food with which to use the gas. It is all charades. The government knows the rightful thing to do. Unfortunately, they will not because hunger has been programmed to kill him off very slowly.

      Reply
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