Nigeria made about N14.43 trillion from Value Added Tax (VAT) and Company Income Tax (CIT) in six years from 2015-2020, an analysis of data published today...
In 2020, Nigeria spent N3.2 trillion paying its debt. The Minister for Finance, Zainab Ahmed disclosed this during a public presentation of the 2021 FGN approved...
The Federal Government has made plans to replace the collection of stamp duty with an electronic bank transfer after the Court of Appeal outlawed the duty...
The Federal Government has suspended the deduction of 7.5 per cent Value Added Tax (VAT) on airfares and other air transport services with effect from January...
These 10 top stories from Nigerian newspapers will interest you 1. 617 new COVID-19 cases take Nigeria’s total to 72,757. Deaths, recoveries updated Nigeria on Saturday...
The International Monetary Fund (IMF) Friday proposed a hike in Value Added Tax (VAT) and excise duties for Nigeria, suggesting that the implementation of the recommendations...
The National Bureau of Statistics (NBS) said on Monday Nigeria generated a total sum of N424.71billion as Value Added Tax (VAT) in the third quarter of...
The Value Added Tax (VAT) amassed by the Nigerian government in the first half of 2020 totalled N651.77 billion, 8.5% higher than the figure for the...
The National Bureau of Statistics (NBS) said on Monday N338.94 billion was generated as Value Added Tax (VAT) in the first quarter of this year. The...
Fiscal authorities in Nigeria amassed Value Added Tax (VAT) revenue totalling N338.94 billion in the first quarter of this year, reflecting a 9.87 per cent leap...
The Association of Private Transport Companies of Nigeria (APTCON) has countered the demand of airline operators for financial intervention with a demand of their own, stating...
The Minister of Communications and Digital Economy, Dr. Isa Ibrahim Pantami, said on Thursday the Value Added Tax (VAT) does not fall under the ministry’s purview...
Nigeria lost $408.28 million (about N148.002 billion) in capital flight arising from plunge in Foreign Direct Investment (FDI) between June and September 2019 owing to insecurity...
Economic policies instituted by the Nigerian government are fighting back like a cornered fox. The National Bureau of Statistics (NBS) on Friday released its Consumer Price...
The Minister of Finance, Budget and National Planning, Zainab Ahmed, on Thursday contradicted the position of the Accountant General of the Federation, Ahmed Idris, saying the...
The Federal Government has started the enforcement of the 7.5 per cent increase of Value Added Tax (VAT) in accordance with the recently signed Finance Bill...
The signing of the Finance Bill into law by President Muhammadu Buhari on Monday has begun to have sweeping reverberations in the public space as the Organised Private...
The joint Conference Committee on the Finance Bill of the National Assembly has adopted the House of Representatives version of Finance Bill. The Finance Bill seeks...
Contractors working on federal roads in the country are owed N306 billion by the Federal Government, the Minister of Works and Housing, Babatunde Raji Fashola has...
Owing to perceived implications of the proposed Finance Bill on the economy, the Organised Private Sector (OPS) is prodding President Muhammadu Buhari to decline his approval...
The House of Representatives Thursday passed the 2019 Finance Bill presented by President Muhammadu Buhari after it passed its third reading. The Senate had earlier passed...
A former chairman of the Federal Inland Revenue Service (FIRS) Ifueko Omoigui-Okauru, has said that Nigerians would be willing to pay more tax if they can...
The Minister of Works and Housing, Babatunde Fashola, has described the 2020 Budget proposal presented to the National Assembly by President Muhammadu Buhari as a pro-people...
The Nigerian Senate on Thursdays continued the debate on the general principles of the 2020 budget proposal presented to the National Assembly by President Muhammadu Buhari,...
The International Monetary Fund (IMF) has raised concerns about the proposed increase in Value Added Tax (VAT), of which the proposed 2020 budget was partly predicated...
The Federal Government on Tuesday defended its decision to increase Value Added Tax (VAT) from five percent to 7.5 percent, saying the review should have been...
The Presidency on Tuesday said revenue accruable from increased Value Added Tax (VAT) would be invested into developing the health and education sectors. The Senior Special...
The recently proposed Communication Service Tax Act (CTA) by the Senate may have given the Nigeria Government another viable source of revenue but creates huge burden...
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, on Monday said the planned increase of Value Added Tax (VAT) in the country will...
A bill seeking to impose a nine percent tax on Nigerians for using communication and cable television services in the country on Wednesday passed the first...
The Nigeria Extractive Industries Transparency Initiative (NEITI) said that a total of N28.58 trillion was remitted to the Federation Account between 2012 and 2016, from mineral...
Human Rights Lawyer, Femi Falana, has kicked against any increase in Value Added Tax (VAT) until the National Assembly carry out an amendment into the VAT...
The Buhari Media Organisation (BMO) has tackled the Peoples Democratic Party (PDP) over the opposition party’s rejection of the planned increase in Value Added Tax (VAT),...
The Peoples Democratic Party (PDP) has called on the Federal Government to reverse its decision to increase the Value Added Tax (VAT) from the current 5...
The Nigeria Employers’ Consultative Association (NECA) has warned against the implementation of the 7.2 per cent Value Added Tax (VAT) approved by the Federal Executive Council,...
The Federal Government Wednesday proposed an increment of the Valued Added Tax. The increment will see the VAT rising from 5% to 7.2%. The Minister of...
A total of N311.94 billion has been generated by the Federal between April and June 2019 through the Value Added Tax (VAT), statistics from the National...
The Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, has replied the query issued him by the Chief of Staff to the President, Abba...
Accountant-General of the Federation (AGF), Ahmed Idris, on Tuesday disclosed that a total of N616.198 billion was shared among federal, state and local governments from the...
Southern Nigeria Peoples Mandate (SNPM) has commended President Muhammadu Buhari for signing the New Minimum Wage Bill into Law. The President, on Thursday, signed into law...
The Federal Inland Revenue Service (FIRS) has announced its plans to recover N750 billion from 55,000 defaulting taxpayers by extending its account substitution policy. Executive chairman...
Any increase in the percentage payable as Value Added Tax, VAT, in the country will adversely affect the Nigerian economy and slow it down, Actionaid Nigeria...
The Association of Bureaux De Change Operators of Nigeria, ABCON, has advocated for an exemption from the payment of Value Added Tax, VAT, and Commission on...
The Secretary-General of the Association of Senior Civil Servants of Nigeria (ASCSN) has said the funds generated by Federal Government through the Nigeria Customs Service (NSC),...
Data released by the National Bureau of Statistics (NBS) has shown that the manufacturing sector made the highest contribution to the Value Added Tax (VAT) generated...
The International Monetary Fund (IMF) has called on the federal government to urgently review its tax policies to block leakages and diversify its revenue base. IMF...
Despite promises, the Federal Government has not yet removed Value Added Tax, VAT, from locally sourced Liquefied Petroleum Gas, LPG. Investigations by Vanguard over the weekend,...
The World Bank said it is making plans to increase its funding to Nigeria by $4.5 billion over the next three years. The Vice President of...
A recent data by the National Bureau of Statistics (NBS) has shown that the Value Added Tax (VAT) generated by the Federal Government through the Nigerian...
Nigeria failed to improve on its Value Added Tax (VAT) revenue in the first quarter of 2017 as it recorded N204.77 billion, 1.5 per cent lower...
