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.
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