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FG to slash import duties on tractors, buses, others in 2020 Finance Bill

Economy Government

FG to slash import duties on tractors, buses, others in 2020 Finance Bill

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The Federal Government has proposed to slash import duties of tractors, transport vehicles, and others to further cushion current socio-economic conditions in the country.

This was disclosed by the media aide of Vice President Yemi Osinbajo, Laolu Akande, on Wednesday via his Twitter handle.

He tweeted:

“President Muhammadu Buhari’s administration is proposing more tax incentives in the 2020 Finance Bill including import duty reductions from 35 to 10% & 0% levies on tractors, transport vehicles & co, 50% reduction of minimum tax, specific TETFUND exemption.

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