VAT, EMTL Earnings Grow As FAAC Shares N1.424Trn For Dec 2024
BY COBHAM NSA – Earnings from the Value Added Tax (VAT) and Electronic Money Transfer Levy (EMTL) recorded significant increase as the three tiers of government shared a total sum…
VAT
Tax Reform Bills: Nigerian Governors’ Forum Rejects Increase In VAT, Supports Tax Reforms
Governors of the 36 States of the federation on the aegis of the ‘Nigeria Governors’ Forum (NGF)’, rose from meeting with members of the Presidential Tax Reform Committee, on Thursday,…
Why Lagos, Rivers, FCT, Oyo Take Over 70% Of VAT – FIRS Chairman
The Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zach Adedeji, has revealed that 70 per cent of value-added tax (VAT) proceeds goes to Lagos, Rivers, and the Federal…
Tax Reforms: Presidency Assures Northern Govs Of Equity
Says North is not the target, all zones will benefit BY EDMOND ODOK – President Bola Ahmed Tinubu has assured the 19 Northern Governors that contrary to insinuations in the…
Reps Committee Directs GTB To Remit VAT ON REMITA Transaction For 8 Years
Following its failure to remit the revenue from Value Added Tax (VAT) from 2015 to 2022, the House of Representatives Committee on Public Accounts Committee, has directed Guaranty Trust Bank…
No Cause For Alarm, VAT Stays At 7.5% — Edun
Assures FG will break no laws BY OUR CORRESPONDENT – Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says there is no cause for alarm as…
Tinubu’s VAT Increase: Blazing Inferno Set To Consume Nigerians – Atiku
Former Vice President Atiku Abubakar has said that the announced increase in Value Added Tax (VAT) from 7.5 to 10 per cent, is set to become the blazing inferno that…
FIRS Engages MTN, Airtel, Banks To Withhold VAT
In a move aimed at improving revenue accruals into the Federation Account, the Federal Inland Revenue Service (FIRS) has appointed two telecommunications companies, MTN and Airtel as well as Deposit…
High Transaction Cost, Liquidity, Others Adversely Impact Nigeria’s Capital Market
BY CHINYERE OBIORA, LAGOS – A financial Expert and Chairman of Proshare, Mr Olufemi Awoyemi has listed high transaction cost, double taxation, and liquidity problem as issues negatively impacting the…
FIRS Achieved 115% VAT Collection Target First Half Of The Year – Executive Chairman
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr Muhammad Mamman Nami, on Thursday announced that the Service has achieved 114.66 percent of its Value Added Tax (VAT)…