Tuesday, 10 January 2017 04:33

Ministry of finance refutes reports of increase in tariff for food, luxury goods



Gift Olivia Samuel, Per Second News
Abuja-The Federal Ministry of Finance Monday said that the 2016 Fiscal Policy Measure did not involve any upward review of tariff on food items and luxury goods. 

 

Declaring this in a statement, the Director, Information, Salisu Dambatta stressed that tariffs for those items on the contrary, remained at their 2015 levels, while duties for some other items were actually reduced. 

Dambatta who was reacting to a report regarding the 2016 Fiscal Policy Measures (FPM), to the effect that the Federal Government has raised import duties on food items and luxury good, said that there was no such raise.

According to him; "A comparison of the 2015 Fiscal Policy Measures Circular dated 20th March, 2015 and the 2016 Fiscal Policy Measures dated 29th November, 2016 will affirm this position".

With regards to the 20 per cent duty on pharmaceutical products in the 2016 Fiscal Policy Measures, he added that pharmaceutical products were already in the import prohibition list.

He said; "This is in support of Government’s intention to give further encouragement and  desirable protection to  local manufacturers of Pharmaceutical products and  ensure that those who, despite the prohibition, import such products under special permission,  pay the required duties".

He however said that the clarifications are aimed at providing the Nigerian media and other stakeholders with the correct information on such sensitive issues, adding also that it is necessary as the Federal Government is putting extra efforts to encourage the local industries and manufacturers.

Last modified on Wednesday, 18 January 2017 02:02

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