Aviation Experts Worry Over New Tax Reforms Impacting Aircraft and Engines
Aviation stakeholders have expressed concerns over the Federal Government's new tax reform affecting commercial aircraft, engines, and other aviation assets, set to take effect in 2026. During a virtual business webinar organized by the Aviation Allied Business Journal and the Nigeria Revenue Service (NRS), Assistant Director of the NRS, Mrs. Nkechi Umegakwe, revealed that the reform would remove the exemption of Value Added Tax (VAT) on aviation assets used in the industry.
The reform implies that Nigerian companies engaged in airline transportation and other aviation-related businesses will now be subject to VAT like any other sector. This change is expected to impact the cost structure of the aviation industry, with implications for both businesses and consumers.
Plus234Feed summary based on reporting from The Will. Read the original report below.
Read full article
Continue on The Will
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Nigerian Airlines to Increase Yuletide Fares Due to New Tax Bill Implementation
Nigeria's New Tax Reforms: Impact on Businesses and Finance Professionals
Nigeria's Tax Reform Acts 2025 Impact on Transportation Sector Revealed
Nigerian Private Sector Worried Over Tax Reform and E-Invoicing Implementation
Nigeria Introduces New Tax Laws for Ship Owners and Charterers
Nigeria Implements New Tax Reform Laws for Fiscal Overhaul
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
