FG orders verification of tax clearance certificates
The Federal Government yesterday issued a directive to all Ministries, Departments and Agencies (MDAs) to verify all Tax Clearance Certificates
How Nigeria’s N1.95tr budget deficit will alter debt service gains
Nigeria’s debt stock and service bill will receive a notch up as the fourth straight budget deficit plan of about N1.95 trillion in the 2018 fiscal appropriation awaits President Muhammadu Buhari’s assent.The appropriation bill of N9.2 trillion will be signed into law tomorrow.
FEC okays tax law reforms as government recovers N30b under VAIDS
The Federal Executive Council (FEC) yesterday approved the review of the country’s tax law system to exempt the charges of Value Added Taxes (VAT) on some goods and services.FEC had on February 1, 2017, approved the revised National Tax Policy...
New alcoholic drinks, tobacco excise duty kicks off Monday
The new excise duty for alcoholic beverages and tobacco earlier approved by President Muhammadu Buhari will take effect from Monday, June 4, 2018, says the Federal Government.
Nigeria’s three years of ‘change’ economics
For a very long time in the President Muhammadu Buhari administration, the monthly federal allocation for the month of May reached N700 billion. Thanks to the resurging international price of crude oil, Nigeria’s near sole earner of foreign exchange, as well as relative peace in the oil-rich area that allowed steady production. But this means…
FG, states share two-year revenue of N70.022b
The Federation Account Allocation Committee (FAAC) has approved the sharing of N701.022 billion among Federal Government and states as revenue generated in the month of April 2018, representing an all-high level of revenue distributed in more than two years by FAAC.
Stakeholders seek suspension of new excise duty on tobacco, alcoholic drinks
Stakeholders in the manufacturing sector have called on the Federal Government to reverse the proposed upward review of the excise duty rates on alcoholic beverages and tobacco from June 4, 2018.They submitted that it was with deep regret that this is happening at a time manufacturers in the industry...
Economic council directs NNPC, others to refund N8tr
The National Economic Council (NEC) has directed the Nigerian National Petroleum Corporation (NNPC) and other agencies in the country to refund unremitted revenues in the sum of N8trillion (about $21billion) and another...
Between single and multiple exchange rates
At the 2018 Spring Meetings of the IMF/World Bank Group, Finance Minister Kemi Adeosun repeated the quest for external loans, which was first made at the 2017 Spring Meetings.
Whistleblowing policy: FG recovers N14bn from tax evaders
Minister of Finance, Mrs. Kemi Adeosun, has revealed that the federal government has so far recovered about N13.9billion from tax evaders through the assistance of volunteers who provided tips on evading tax companies in the country.
Government to mobilise more revenues as tax payers’ base hits 19m
The Minister of Finance, Mrs. Kemi Adeosun, has disclosed that the Federal Government would mobilise more revenues to drive its growth plan for the economy.The Minister made this known in Abuja at a meeting with a World Bank Mission of 10 Executive Directors led by Patrizio Pagano...