Complete List Of 63 Goods And Services Exempt From VAT Revealed

Complete List Of 63 Goods And Services Exempt From VAT RevealedThe Federal Government has announced the exemption of 63 items from Value-Added Tax (VAT) as part of a strategic initiative to boost various sectors of the Nigerian economy. This information was shared by Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, in a statement posted on X on Friday.

The announcement is based on the ‘Value Added Tax (Modification) Order, 2024,’ which is dated September 3, 2024. This exemption is part of wider fiscal reforms aimed at stimulating economic activities and alleviating financial pressures on businesses and consumers.

This decision follows recent fiscal measures intended to revitalize Nigeria’s oil and gas sector, as highlighted by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, earlier this week. The exempted items, which will take effect from October 1, 2023, include:

•CNG/LPG Dual Fuel Vehicles

•Dedicated LPG Vehicles and CNG/LPG Dual Fuel Vehicles

•Parts and semi-knocked down units for assembling CNG and LPG buses

•Parts and semi-knocked down units for assembling Electric Vehicles

•Electric Vehicles

•Electric Vehicle Batteries

•Electric Vehicle Charging Systems

•Electric Vehicle Solar Charging Systems

•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 Machines

•Heat Treatment Equipment

•Liquid Level Gauges

•Pumping Housings and Motors

•Regulator Bodies

•Pressure Gauges

•Truck Chassis

•Metering and Measuring Equipment (including weighbridges and 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 (household or laundry-type washing machines, including machines that both wash and dry)

•CNG, LPG, and Cryogenic Hoses, Tubes, and Fittings (including joints, elbows, and flanges made from plastics)

•CNG Truck Heads

•Gas Leak Detectors

•Gas Air Conditioners

•Cylinder Refurbishment Equipment

•Blending Skid/Unit

•Odorizing Unit

•Chromatography Unit (GC)

•LNG Liquefying Equipment, Heat Exchangers, LNG Vaporizers, and Regasification Plants

•Liquefied CNG Compression Terminals

•LNG Plants, Machinery, Pumps, Compressors, and Filters (including gas filters)

•Weighing Machines and Valves Equipment

•Cryogenic Storage Tanks and Liquefied CNG Conversion Tanks

•Pipes, Piping Fittings, and Flanges used for Liquefied Natural Gas processing

•Electrical Equipment, including Cables for Liquefied Natural Gas processing

•Steel Plates, Angles, and Bars for Liquefied Natural Gas Processing

•LNG Related Chemicals

•Biogas Digesters

•Biogas Compressors

•De-sulfurization Units

•Dryers

•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

 

 

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