LPG: FG Affirms Removal Of VAT On Cooking Gas - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
October 2, 2019
The Federal Government has confirmed the removal ofValue Added Tax VAT on Liquefied Petroleum Gas LPG in Nigeria, otherwise knownas cooking gas.
The Chairman, Federal Inland Revenue Service, FIRS,who said this at the stakeholders’ meeting with Vice President Yemi Osinbajo,in Abuja, recently said the measure was targeted at growing the LPG sector.
The Federal Government had earlier in the yearpromised to remove VAT on cooking gas to encourage utilisation of the productin many households.
Osinbajo had explained that specifically, forhousehold cooking, the present administration is targeting a 40 percentadoption rate (i.e. 13.8m households) in 5 years, and 73 percent adoption in 10years (33.3m households).
The President, Nigeria Liquefied Petroleum GasAssociation, Nuhu Yakubu said the Nigeria LP Gas Association is the umbrellabody of all stakeholders in the LP Gas sector in Nigeria.