The federal government has said that its plan to introduce luxury tax in the country has been delayed because of some legal protocols required to be met before the take-off of the policy.
The Minister of Finance, Kemi Adeosun, told journalists at the end of the annual meetings of the World Bank and International Monetary Fund (IMF) in Washington on Sunday that government was perfecting plans to commence the collection of luxury taxes as soon as these legal processes have been resolved.
“There is a legal process government must go through, including the customs union protocol to actually vary the specific taxes,” the minister explained.
Mrs. Adeosun pointed out that the luxury tax planned by the federal government would cut across member states of the Economic Community of West African States, ECOWAS, with the affluent in the society in direct consideration.
In August this year, while giving clarifications on the Nigerian government’s plan on diaspora taxes during a Facebook LIVE video chat tagged “Tax Thursday” monitored by PREMIUM TIMES, Mrs.
Adeosun had explained government’s plan on luxury taxes.
During the chat, the minister said there were plans to tax first class tickets on airline travels and luxury coaches, as well as other luxury goods like champagne, brandy, whisky, wine, jewelry, high-end jewelry.
“We’ve signed something that will bill access charge on first class and business class tickets.
We are just doing the final parts of the implementation and we also want to try and amend the tax payer book on high end cars, luxury cars,” she said
