Maritime Stakeholders Urge FG to Implement Zero Tax for Ship Acquisition - THISDAYLIVE

Stakeholders in the nation’s maritime sector have called on the federal government to abolish the tax on full duty paid equipment, stressing that the policy was undermining local operators and favours foreign shipping companies.

Adegbite said: “Section 8 schedule 6 of the Customs and Excise Act states that full duty paid equipment cannot be re-exported unless it is meant to go and do repairs. Not sounding to be too ethical, some of us have worked in Ghana, Equatorial Guinea, Togo and the Congo.

He stressed the need for more private sector investment in the shipping industry, adding that what was happening now in most maritime countries was that national interest encapsulates the private sector essence, which is profitability.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Operators to Jostle for NCDMB $3.5bn Investment in Ship Acquisition - THISDAYLIVEEromosele Abiodun The newly elected President, Ship owners Association of Nigeria (SOAN), Dr. Mkgeorge Onyung, has called on ship owners in the country to be ready to take advantage of the planned investment of $3.5 billion (N1.26 trillion) in ship acquisition by the Nigerian Contents Development and Monitoring Board (NCDMB). Also, he said the net …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »

Dufil Commences Payment to Edo Farmers for Land Acquisition - THISDAYLIVEBy Eromosele Abiodun Following its acquisition of 17,954 hectares of land from the Edo State government for palm oil cultivation, Dufil Prima Foods Plc, makers of Indomie Noodles, has embarked on a crop compensation payment for 1,628 farmers across 14 communities in Ovia North East local government area of Edo state. The payment exercise, which …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »