July, 2023 - Nigerian freight tax

Earlier in the year the Managers became aware that the Nigerian Federal Internal Revenue Service (FIRS) had begun issuing tax demands to tanker owners/ships in respect of calls at Nigeria between 2010 and 2019. It is understood that FIRS is conducting a review relating to the levying of tax on the deemed profit element of freights earned in relation to cargoes loaded in Nigeria between these dates.

Various timelines (within 2023) are now being imposed within which affected Members should engage with FIRS. Should those Members require further information then they should contact the Managers or their local, Nigerian representatives

If Members have any questions on this issue, please contact the Club for further information and guidance.