FG generates N338.94bn VAT in Q1 – NBS
The National Bureau of Statistics (NBS) says N338.94billion was generated as Value Added Tax (VAT) in the first quarter (Q1) of 2020. The NBS made […]
VAT
FEC says VAT on contracts signed earlier than Feb.1 remains 5%
The Federal Executive Council (FEC) has resolved that Value-Added Tax (VAT) on contracts signed earlier than Feb.1 remains 5 per cent. Malam Garba Shehu, Senior […]
Revealed: 20 basic food items, sanitary pads, others make VAT exemption list
In a bid to ensure that the cost of living does not rise for Nigerians because of the changes in the Value-Added Tax, several basic […]
Operators task new FIRS boss on VAT, withholding tax on capital market transactions
Capital market operators on Tuesday urged the new Federal Inland Revenue Service (FIRS) chairman to ensure removal of Value Added Tax on capital market transactions […]
N275bn generated from VAT in third quarter of 2019 –NBS
The National Bureau of Statistics (NBS) said the sum of N275.12 billion was generated as Value Added Tax (VAT) in the third quarter of 2019. The […]
FIRS nets N4.012trn between Jan – Sept. 2019
The Federal Inland Revenue Service, FIRS, said it has collected the sum of N4. 012 Trillion in three quarters (January-September 2019), Executive Chairman, Tunde Fowler […]
Nigeria earns N28.6trn from oil, non-oil sources in 5 years
#TrackNigeria The Nigeria Extractive Industries Transparency Initiative (NEITI) said that N28.58 trillion was remitted to the Federation Account between 2012 and 2016, from mineral revenues, […]
VAT: Propose Money Bill before implementing increase – Falana to FG
#TrackNigeria Human Rights Lawyer, Femi Falana, has called on the Federal Government to propose a Money Bill to the National Assembly before the implementation of […]
CBN supports FG’s plan to increase VAT, says Nigeria has lowest
#TrackNigeria Mr Godwin Emefiele, the Governor of Central Bank of Nigeria (CBN), says the plan to increase Value Added Tax (VAT) from five per cent […]
7.5 % VAT is reverse Robin Hood, By Majeed Dahiru
Nigeria’s wealth of nation, which is mainly sourced from revenues derived from the exploitation and export of its huge deposits of oil mineral resources, has […]
The new tax initiative, By Jide Ayobolu
#TrackNigeria: The Federal Inland Revenue Service (FIRS) says it will begin to impose value-added tax (VAT) on online transactions, both domestic and international, with effective […]
VAT increase ‘ll deepen poverty, widen inequality, CSOs caution FG
A group of civil society organisations (CSOs) have urged the Federal Government not to follow through with the plan to increase Value Added Tax (VAT), […]
VAT increment: Economic experts recommend tax net expansion
Some economic analysts on Friday expressed concern about the Federal Government’s increase in Value Added Tax (VAT) from five per cent to 7.2 per cent, […]
Don urges FG to expand scope of VAT to capture more products
Malam Muhammad Sallau, a lecturer of the Federal University Dutse, Jigawa on Friday urged the Federal Government to expand the scope of the Value Added […]
Proposed increase in VAT: Senate to invite finance minister, FIRS chairman
The Senate Committee on Finance says it will invite the Minister of Finance and the Chairman, Federal Inland Revenue Service, (FIRS) to give details on reasons […]
FEC approves N10.07trn 2020 budget proposal, raises VAT to 7.2%
#TrackNigeria: The Federal Executive Council (FEC) on Wednesday approved N10.07 trillion 2020 Budget proposal for onward transmission to the National Assembly for consideration and approval. […]
Tribunal reverses FIRS’s N29.2 VAT on bank
The Tax Appeal Tribunal, sitting in Abuja on Wednesday, reversed N29.2 million Federal Inland Revenue Service’s (FIRS) imposed as value added tax on Infinity Trust […]
FIRS to impose VAT on online transactions, says Fowler
The Federal Inland Revenue Service (FIRS) says it will soon begin collection of Value Added Tax (VAT) on online transactions. The Chairman of the agency, […]
VAT : Actionaid advises FG
VAT : Actionaid advises FG Actionaid Nigeria has called on the Federal Government to forget the idea of increasing Value Added Tax, VAT, warning […]
VAT: Fowler didn’t call for 50% increase-FIRS
#TrackNigeria -The Federal Inland Revenue Service (FIRS), has dismissed media reports quoting its Chairman, Mr. Tunde Fowler, as suggesting an increase in the rate of […]
Fowler urges developing countries VAT growth, digital economy revenue
The Chairman of the Federal Inland Revenue Service, Mr Babatunde Fowler has advised developing countries to grow Value Added Tax (VAT) and tax revenue from […]
President Buhari congratulates China on 69th Anniversary
President Muhammadu Buhari has congratulated President Xi Jinping of the People’s Republic of China, on the 69th anniversary of the founding of the People’s Republic. In […]
FIRS increases revenue by 42 percent
The Federal Inland Revenue Service (FIRS) has announced that it realized a total of N2,529,615,174,601.25 from various taxes between January and June 2018. A statement by the […]
2018 budget: FG to borrow N1.6tn to fund deficit – Udoma
The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, says the Federal Government will borrow N1.6 trillion to finance part of the N9.12 […]
Airline operators commend Buhari for removing VAT on transportation
The Airline Operators of Nigeria (AON) has commended President Muhammadu Buhari, for the recent signing of an Executive Order for the removal of Value Added […]