Chairman of the Federal Inland Revenue Service (FIRS), Mrs. Ifueko Omogui-Okauru has disclosed that the tax collection agency does not charge Value Added Tax (VAT) on the Premium Motor Spirit (PMS) and DPK (kerosene) imported into the country; meaning importers of billions of litres of petrol got waivers from government.
Chairman of the Federal Inland Revenue Service (FIRS), Mrs. Ifueko Omogui-Okauru has disclosed that the tax collection agency does not charge Value Added Tax (VAT) on the Premium Motor Spirit (PMS) and DPK (kerosene) imported into the country; meaning importers of billions of litres of petrol got waivers from government.
Omogui-Okauru, who stated this at the on-going investigative hearing of the House of Representatives ad hoc Committee on the management of the subsidy regime also disclosed that a revised version of the Value Added Tax (VAT) would soon be presented to the National Assembly.
She explained that it was a policy of the federal government not to charge VAT on Premium Motor Spirit (PMS) and kerosene imported into the country.
According to her, this was deliberate to save Nigerians from paying heavily for the products.
“Government has been very sensitive on the issue of tax on petroleum products which is a major source of revenue,” she said.
The tax master noted that although PMS and kerosene were taxed in other countries, the Nigerian government was been sympathetic to Nigerians. She promised to forward documents authorising the agency not to charge VAT on petroleum products.
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