‘Double taxation, FX charges killing $10 billion barging business’ | The Guardian Nigeria News - Nigeria and World News

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Double taxation and charges in foreign currency for barging business are crippling the industry, which has potential revenue generation of $10 billion into the government's account, operators have warned.

Double taxation and charges in foreign currency for barging business are crippling the industry, which has potential revenue generation of $10 billion into the government’s account, operators have warned.

“Also, they still need to pay the freight. So, you can see double freight and this person will still charge their commission on the freight. It is double taxation. We are supposed to encourage our local businesses, not the government putting all these charges on us,” he stated. He said barge operators still pay over N150,000 charges to terminal operators, out of the amount the importer pays to transport his goods, leaving barge operators with the little amount left after the business.

He said importers and barge operators are hopeful of a new government to help address these issues and restore the barging industry to contribute its quota to the Gross Domestic Product of the nation.

 

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