News

FULL LIST: FG removes VAT on electric vehicles, gas generators, 61 others

The Federal Government has announced the removal of Value-Added Tax (VAT) on 63 items, including electric vehicles and gas generators.

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, announced this in a post on X on Friday, October 4, 2024.

Oyedele disclosed that the exempted items are contained in an official gazette for the ‘Value Added Tax (Modification) Order, 2024’ dated September 3, 2024.

He wrote: “Official Gazette of Value Added Tax (Modification) Order, 2024

“A new order has been issued to formalise and extend the suspension of VAT on diesel. In addition, the order grants VAT exemption on CNG, electric vehicles, biogas, and biofuel equipment and accessories for clean cooking and transportation.”

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, had on Wednesday, October 2, announced that the federal government has exempted Liquefied Petroleum Gas and Automotive Gas Oil, fondly called diesel.

Below is a full list of the items exempted from VAT:

  • CNG/LPG Dual Fuel Vehicles
  • Dedicated LPG Vehicles and CNG/LPG Dual Fuel Vehicles
  • Parts, and semi-knocked down units (for assembly) of CNG and LPG Buse.
  • Parts, and semi-knocked down units (for assembly) of Electric Vehicle
  • Electric Vehicles
  • Electric Vehicles Battery
  • Electric Vehicles Charging System
  • Electric Vehicle Solar Charging System
  • LPG/CNG Conversion Kits
  • CNG Cylinders.
  • CNG Cascades
  • CNG Dispensers
  • Gas Generators
  • CNG Trucks (Bobtails and Bridgers; fixed axle and semi-trailers
  • Steel Pipes
  • Steel Valves & Fittings
  • SS Tubes & Fittings
  • Storage Tanks (all sizes)
  • Regulators
  • CNG Pumps and Compressors (all types)
  • Steel
  • Pressure Relief Valves
  • Hydraulic press/Rolling machine
  • Heat Treatment Equipment
  • Liquid Level Guage
  • Pumping Housing and Motors
  • Regulator Body
  • Pressure Guage
  • Truck Chassis
  • Metering and Measuring Equipment (including weighbridges, filling scales)
  • Dispensing equipment (dispensing scales, nozzles, gas filling systems)
  • Safety Features (emergency shutoff valves, pressure relief valves, excess flow valves, breakaway couplings, quick release couplings)
  • Gas water heaters
  • Gas burners for industry
  • Gas boilers
  • Gas washing machines and dryers (launderettes) Household or laundry-type washing machines, including machines which both wash and dry.
  • CNG, LPG and Cyrogenic Hoses Tubes, pipes and hoses, and fittings thereof (for example,joints, elbows, flanges) of plastics.
  • CNG truck heads
  • Gas Leak Detectors
  • Gas air conditioners
  • Cylinder refurbishment equipment
  • Blending skid/unit
  • Odourizing unit
  • Chromatography unit (GC)
  • LNG Liquefying Equipment, Heat Exchangers,LNG Vapourizers, Regassification Plant, Liquefied CNG Compression Terminals
  • LNG Plant, Machinery, Pumps, Compressors, Filters (Including Gas Filters), Weighing Machines, Valves Equipment
  • Cyrogenic Storage Tanks, Liquefied CNG Conversion tanks
  • Pipes, Piping Fittings, Flanges used for Liquefied Natural Gas processing
  • Electrical Equipment, including Cables for Liquefied Natural Gas processing
  • Stell Plates, Angles, Bars for Liquefied Natural Gas Processing
  • LNG Related Chemicals
  • Biogas Digester
  • Biogas Compressor
  • De-sulphurization units
  • Dryer
  • Distillation columns for processing biofuels
  • Bio-ethanol refinery equipment
  • Fermentation Tanks
  • Biofuel related Chemicals, Enzymes and Reagents
  • Liquefied Petroleum Gas
  • Compressed Natural Gas
  • Feed Gas
  • Automotive Gas Oil

The Star

Segun Ojo

Recent Posts

Guardiola suffers 5th straight defeat for first time as Spurs thrash Man City 4-0

Manchester City manager Pep Guardiola suffered a fifth straight defeat for the first time in…

9 hours ago

Police recover explosives, foil bomb explosion in Borno

The operatives of the Nigeria Police Force (NPF) have recovered unexploded military ordnances in Maiduguri,…

10 hours ago

Tinubu departs Brazil after G20 summit

President Bola Tinubu has departed Rio de Janeiro in Brazil for Abuja after attending the…

11 hours ago

Fire guts LAUTECH teaching hospital

Fire, on Saturday, November 23, 2024, gutted a section at the Ladoke Akintola University of…

11 hours ago

EPL: Arsenal whip Nottingham Forest as Chelsea defeat Leicester

Bukayo Saka and Thomas Partey scored stunning goals in the Premier League as Arsenal thrashed…

12 hours ago

Wike’s aide slams Reps member Ugochinyere, calls him ‘political hushpuppi’

Lere Olayinka, the Senior Special Assistant on Public Communications and New Media to the Minister…

15 hours ago

This website uses cookies.