The Nigeria Customs Service (NCS) has officially started enforcing a two-year tax exemption on imported pharmaceutical materials.
This move follows President Bola Tinubu’s approval of new guidelines to remove both import duties and value-added tax (VAT) on essential raw materials used in making pharmaceutical products.
The exemption is expected to support the pharmaceutical sector by reducing production costs.
This action is now in effect, offering relief to pharmaceutical manufacturers for the next two years.
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