Nigeria Expands List of VAT-Exempt Goods
Nigeria recently expanded its list of goods exempt from value-added taxes, which now includes more agricultural, energy and pharmaceutical products, KPMG said Oct. 19. The changes, which were published last month, add various petroleum products, renewable energy equipment, agricultural seeds…
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and seedlings, and raw materials used to produce pharmaceutical products to the country’s VAT-exempt list. Also included are military hardware, arms, ammunition and gas supplied by “gas-producing companies to electricity-generating companies.”