Full List of 27 Industries to Enjoy Tax Immunity

August 8, 2017
Full List of 27 Industries to Enjoy Tax Immunity

By Modupe Gbadeyanka

On Monday, August 7, 2017, Federal Government finally released the full list of 27 industries to enjoy tax break in the country.

Addressing newsmen at a news conference in Abuja, Minister of Industry, Trade and Investment, Mr Okechukwu Enelamah, said companies and products applying for Pioneer Status Incentives (PSI) in the 27 sectors would be exempted from paying company income tax for an initial period of three years with consideration for two more years.

According to the Minister, the review of the list of industries and products enjoying Pioneer Status was done based on the economic realities and the Federal Government’s Economic Recovery and Growth Plan.

His words, “The Federal Government is committed to encouraging and attracting investments into critical sectors of the economy which will significantly impact development and deliver key benefits to the country,” he said.

“These benefits include economic growth and diversification; industrial and sectoral development; employment; skills and technology transfer; export development; and import substitution,” he added.

The 27 industries to benefit tax holiday include:

  1. Mining and processing of coal.
  2. Processing and preservation of meat/poultry and production of meat/poultry products.
  3. Manufacture of starches and starch products.
  4. Processing of cocoa.
  5. Manufacture of animal feeds.
  6. Tanning and dressing of leather.
  7. Manufacture of leather footwear, luggage, and handbags.
  8. Manufacture of household and personal hygiene paper products.
  9. Manufacture of paints, varnishes and printing ink.
  10. Manufacture of plastic products (builders’ plastic ware) and molds.
  11. Manufacture of batteries and accumulators.
  12. Manufacture of steam generators.
  13. Manufacture of railway locomotives, wagons and rolling stock.
  14. Manufacture of metal-forming machinery and machine tools.
  15. Manufacture of machinery for metallurgy.
  16. Manufacture of machinery for food and beverage processing.
  17. Manufacture of machinery for textile, apparel and leather production.
  18. Manufacture of machinery for paper and paperboard production.
  19. Manufacture of plastics and rubber machinery.
  20. Waste treatment, disposal, and material recovery.
  21. E-commerce services.
  22. Software development and publishing.
  23. Motion picture, video and television programme production, distribution, exhibition and photography.
  24. Music production, publishing and distribution.
  25. Real estate investment vehicles under the Investments and Securities Act.
  26. Mortgage backed securities under the Investments and Securities Act.
  27. Business process outsourcing.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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