The Federal Government, through the Nigerian Customs Service, granted the sum of N2.29tn as Customs’ tax exemptions in 2021, a 194.65 per cent increase from the N779.74bn waivers granted in 2020.
The exemptions included Value Added Tax relief granted on imports, waivers and concessions on import duties, ECOWAS Trade Liberalisation Scheme, surcharges, Comprehensive Import Supervision Scheme, as well as excise and levies.
Source: punchng
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