Investor Presentaiton
Free Trade Zones & Nigeria Tax Regime
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Review of NEPZA & OGEFZA Provisions (cont'd)
Sale and purchase transactions between approved
enterprises and Nigerian customers, equivalent to import
and export transactions, so related rules and regulations
apply (sections 11 & 12)
Goods intended to be disposed in the customs territory
not removable without consent and payment of applicable
duties (sections 12(7)).
Sections 14 prohibits retail trade - note recent TINAPA
incident: 'approval' of Authority may not be approval of
Customs.
- Articles imported with customs duty cessions subject to
strict data requirements (sections 15) - for ‘audit trail'
purposes. FZ (Tariffs) Order 2002 - all products registrable.
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