Proshare - Facebook Proshare - Twitter Proshare - Google+ Proshare - Linked In Proshare - RSS Feed

Pres. Buhari Approves 2016 Fiscal Policy Measures; Reduces Import Duty Rates on 91 Items

Proshare

Thursday, January 05, 2017  1.05 PM/ Proshare Research

President Muhammadu Buhari has approved the implementation of the 2016 Fiscal Policy Measures which is made up of the Supplementary Protection Measures together with the ECOWAS CET 2015 – 2019 effective from 17th October, 2016.

In a circular signed by the Honorable Minister of Finance, the approved Supplementary Protection Measures in line with the provision of the ECOWAS CET comprises an Import Adjustment Tax list with additional taxes on 173 tariff lines of the extant ECOWAS CET; a National list consisting of 91 items with reduced import duty rates to promote and encourage development in critical sectors of the economy and an import Prohibition trade list of 23 items applicable only to certain goods originating from non-ECOWAS Member States.

The 2016 Fiscal Policy Measures supersedes the 2015 Fiscal Policy Measures while all transactions prior to the effective date of this circular shall be subjected to the tariff rates applicable before the coming into effect of the 2016 Fiscal Policy Measures.

Click Here to Download the 2016 Fiscal Policy Measures 

Related News

1.       Nigeria and 2017 - The Limit of Expectations

2.      Manufacturing PMI Stands at 52.0% in December from 46.0% in November 2016 - CBN

3.      2017: A Year of Fear Laced with Hope

4.      PMI Reading No 45 Shows A Strong Rebound

5.      Recession: Nigeria needs an inclusive economic summit - Wole Soyinka

6.      Nigeria: Economic Strategic Report – Q4 2016 Highlights and Outlook 2017

7.      Ecobank Research Revealed Africa's Five Hot Spots for Investment in May 2016

8.     Not a Vintage Year

9.      Ambitious Spending Plans in 2017 Will Not Be Realised

10.  Oil-Driven Recovery Will Be Muted in 2017, Investment Lustre Will Be Slow To Return

11.   A fourth Relief Programme for the States

12.  Untapped Potential of Remittances

13.  2017 Budget - Too little or too large?

14.  Nigeria’s Economic Indicators in 2016 

Related News