Nigeria Adds Another Risk for Tanker Owners: Sudden Tax Bills

Nigerian authorities have added another potential compliance risk for tanker owners: newly-assessed back taxes. 

According to Bloomberg, at least two tanker owners have received requests for payment for millions of dollars in previously undisclosed tax liability dating back more than a decade. Intertanko has issued a circular to members (viewed by Bloomberg) that reportedly describes tax assessments reaching into the eight digits, with some assessed liabilities of more than a million dollars per individual vessel. The bills are based on a new law created in 2021, which imposes tax liability on merchant tankers calling in Nigeria.

View entirety: The Maritime Executive