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New Tax Alarm On Yacht And Private Jet Owners

source: google
From the beginning of 2019, any Nigerian with owned private jets and yachts will will start paying luxury taxes says The Minister of Finance, Zainab Ahmed. The minister made this known at a press conferance on Monday Decenmeber 24th. She added that taxes of Small and Medium Enterprises will be reduced.

“We are exploring the way to increase taxes as well as reduce taxes in some sectors. For Small and Medium Enterprises, what will happen is to reduce taxes. But there are some special taxes that we will be looking at imposing.
 
For example, luxury taxes. If you have a private jet, we will be taxing you specially for that. If you have a yacht, we will be charging you for that and also in terms of excise duties, there are also some new areas where excise duties will be introduced. We haven’t got all the approvals but one of the major areas might be that of carbonated drinks produced in the country.” she said.


Reported by Stefan 

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