Cattle Ranching Has Tax Exemption in Nigeria

Cattle Ranching Has Tax Exemption in Nigeria

A ranch is an area of land, including various structures, given primarily to the practice of ranching, the practice of raising grazing livestock such as cattle or sheep for meat or wool.

Not many Nigerians are aware that the Federal Government of Nigeria has always encouraged cattle ranching, rather than open grazing.

Cattle-ranching Cattle Ranching Has Tax Exemption in Nigeria

Indeed, sitting on number 32 on the list of 44 pioneer industries/products approved by the National Council of Ministers in 1989, in pursuant to the Industrial Development (Income Tax Relief) Act, a subsidiary legislation to the Companies Income Tax Act, is Cattle Ranching and Piggery of not less than 500 herds.

In other words, if you operate cattle ranch with at least 500 cattle, you can apply for pioneer relief that will exempt you from paying taxes on your profits from the cattle production for between 3-5 years.

So there you go, the FGN of Nigeria has always encouraged cattle ranching.  See full list of items: Pioneer Industry Gazette 

More items were added to the list in 2017.

  • Cattle-ranching Cattle Ranching Has Tax Exemption in Nigeria

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