Manufacturers seek removal of 7.5% VAT on diesel

The President of Manufacturers Association of Nigeria (MAN), Mansur Ahmed has called on the Federal Government to remove the 7.5% Value Added Tax on diesel.

He said the removal of VAT on diesel should be pending the normalisation of the international supply system as well as resolve the complexity surrounding the seamless implementation of the eligible customer initiative in order to enable manufacturers to take of the advantage of stranded electricity.

Ahmed also asked the government to create a national strategic response to the disruptive impact of the ongoing Russian – Ukraine war on the global supply value chain and its debilitating impact on Nigeria’s economy.

Ahmed stated that such a strategic response will help to identify viable options to ameliorate the negative impact of the disruption, assuage other pain points in the business environment and activate innovative solutions to familiar and emerging macroeconomic and Infrastructure challenges as well as provide a lead way for resilience in the economic ecosystem.

Source: Manufacturers seek removal of 7.5% VAT on diesel  – StocksWatch (stocksng.com)

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