COVID-19: Federal Government Exempts Medical Supplies from VAT and Import Duty
COVID-19: FG exempts Medical Supplies From Tax
On Thursday, 30 April 2020, the Honourable Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed, issued a Circular (“the Circular”) conveying the approval of His Excellency, President Muhammadu Buhari (GCFR), of the implementation of new fiscal policy measures aimed at facilitating the importation of essential medical supplies to combat the Coronavirus (COVID-19) pandemic in Nigeria.
Specifically, the Circular exempts importers of specified medical supplies from payment of import duties and value added tax (VAT) on such items for a six-month period in the first instance, with effect from 1 May 2020. The Circular contains the relevant Customs Harmonised System Classification Codes for each exempt item and, directs the Nigeria Customs Service (NCS) to expedite clearance of the medical supplies in line with Standard Operating Procedures for clearing humanitarian and relief materials.
Click to download and read more on this newsletter.
© 2022 KPMG Professional Services, a partnership registered in Nigeria and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.