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Med-View CEO urges implementation of VAT waiver for airlines

The Managing Director/CEO of Med-View Airline Plc, Alhaji Muneer Bankole, has called on the Federal Government and its relevant agencies to fast-track the implementation of the exemption granted domestic airlines from payment of Value Added Tax (VAT).

Daily Trust reports that the Federal Executive Council (FEC) had issued an executive order nine months ago to exempt airlines from VAT payment.

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But since the order was issued, it was yet to be implemented by relevant authorities especially the Federal Inland Revenue Service (FIRS) as airlines confirmed they were still being asked to pay VAT despite the presidential order.

Bankole confirmed that the government was yet to implement the VAT removal policy despite several attempts by the Airline Operators of Nigeria (AON) to get the policy implemented.

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He said the issue lay with the gazetting of the order as the FIRS still claimed it was not yet officially notified of the waiver.

He therefore urged government to hasten the implementation to further reduce the financial burden on airlines operating in the country.

He disclosed that while the Nigerian government was collecting five per cent VAT from the domestic carriers, their foreign counterparts operating in the country do not remit the same.

He said: “As at today, the answer is negative; nothing is being done in that direction. All we are praying for is to have the relevant authorities to do the right thing.

“The government will still need to talk to the Ministry of Finance, Budget and everybody including the National Assembly to have it become a law.”

Speaking further, Bankole said 2018 was a challenging year for the airline but assured that the carrier was overcoming its challenges and coming back big as it deepens its domestic operations and resumes the foreign routes which were initially suspended.

The MD said the airline would strive to regain the West Coast market as most of the passengers on the route are Nigerians who would always patronise their own.

 

 

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