The Honourable Minister of Finance and the Coordinating Minister of the Economy, Mr Wale Edun has announced the integration of the Incentive Monitoring and Evaluation Platform (IMEP) into the Import Duty Exemption Certificate (IDEC) programme, thereby allowing for enhanced monitoring and evaluation.
The IDEC initiative is a means of reducing import duty burdens thereby stimulating national development and economic prosperity.
The newly launched IMEP would ensure that only eligible entities benefit, through the enforcement of compliance and optimising tax expenditures to reduce waste, block leakages and enhance economic equity.
IMEP aims at ensuring that tax inducements are placed on rationing, to enhance maximum economic impact.
To acquaint all stakeholders with the upgraded IDEC framework, the Ministry of Finance will host a webinar on April 25th, 2024, by 12 noon (WAT). Key industry participants, including manufacturers, importers, and representatives from MDAs and NGOs, are invited to engage in this session to understand the enhanced features and benefits of the IMEP. Details for the webinar will be available on the Ministry of Finance’s official website and the IDEC YouTube channel.
Chinedum Anayo