FG,SHIPPING VESSEL OWNERS MEET OVER TAX COMPLIANCE
PRES
In a bid to address concerns and maintain a smooth flow of petroleum products in and out of the country, the federal governemnt has resolved to tackle tax compliance issues with shipping vessels. OOV
According to the special adviser to President Bola Tinubu on revenue , demand notices were issued to vessel owners , in accordance with Nigerian tax laws, to remit taxes owed over the past decade. However, there were concerns about the timing of compliance and potential disruptions to product flow.
To ensure a swift resolution without impacting trade, it has been agreed upon that a technical committee will be established. This committee will consist of regulatory bodies such as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian National Petroleum Corporation (NNPC), the Federal Inland Revenue, and representatives from the presidency.
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