The federal government said, yesterday, that Nigerian owners of foreign registered private jets were taking out of the country annually over $10 million through payment of foreign cockpit crew, charges and taxes overseas.
According to government, this has further assisted to boost capital flight out of the country.
Coordinating General Manager, Corporate Communications of Aviation Agencies, Mr. Yakubu Dati, who disclosed this in Lagos, also revealed that the total amount of money that Nigeria loses to this category of operators was in excess of $15 billion annually, excluding charges paid by aircraft used for charter services.
Dati said of the 139 private jets operating in Nigeria, 87 were registered overseas, while 52 were registered locally.
He explained that when aircraft was registered overseas, it was assumed to be visiting Nigeria as it usually registered under a foreign operator, adding that the implication of this was non-payment import duty when coming into Nigeria.
He estimated that 80 per cent of 87 foreign registered aircraft operating in the country was 69, adding that at the average cost of charter of $7,000 per hour, the jets made $1.449 million daily without paying taxes and PSCs.
“So these aircraft earn $1,449,000 million per day and the five per cent VAT tax and five per cent NCAA charges which they do not pay, if deducted from the above earning would amount to $144, 900 per day.
“In a year this would amount to $51, 584, 400 or N8. 2 billion and this is a fragment of the import duties which is estimated to be in billions of dollars which these aircraft owners did not pay before they were brought into the country,” Dati explained.
Source:Vanguardngr
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