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FG denies increase in tariff on food items and luxury goods

 
 
Nigerian News Update » Nigerian Newspapers
Punch Newspaper
 
The Federal Ministry of Finance on Friday said it had not increased the import duties on food items and other luxury goods.

The ministry, in a statement issued by its Director of Information, Salisu Dambatta, said that contrary to some media reports that the duties on such items had been increased, the government had no plans to do so at this critical period.

It said rather than increasing import duties, what the government did was to reduce most of the items based on the Fiscal Policy Measures for 2016.

The statement read in part, “The attention of the Federal Ministry of Finance has been drawn to recent publications in the media, regarding the 2016 Fiscal Policy Measures to the effect that the Federal Government has raised import duties on food items and luxury goods.

“The Federal Ministry of Finance wishes to categorically state that the correct position is that, the 2016 FPM did not involve any upward review of tariffs on the affected food items and luxury goods.

“On the contrary, tariffs on those items remain at their 2015 levels, while duties for some other items were actually reduced.

“A comparison of the 2015 Fiscal Policy Measures Circular, dated March 20, 2015 and the 2016 Fiscal Policy Measures, dated November 29, 2016, will affirm this position.

“With regards to the 20 per cent duty on pharmaceutical products in the 2016 Fiscal Policy Measures, it should be noted that pharmaceutical products were already in the import prohibition list.

“This is in support of government’s intention to give further encouragement and desirable protection to local manufacturers of pharmaceutical products and ensure that those who, despite the prohibition, import such products under special permission, pay the required duties.”
 
 
 
 
 
 
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