Value Added Tax
Union resists VAT increase, says it is an attempt to overburden consumers
Trade Union Congress of Nigeria (TUC), has criticised an aspect of the Finance Bill signed into law by President Muhammadu Buhari on Monday, endorsing the approval of the increase in Value Added Tax
Stakeholders urge FG to dump VAT increase, reduce cost of governance
The Periscope’s All Professionals After Work Hangout has advised the Federal Government to shelve the planned increase of Value Added Tax (VAT) from the current 5 per cent to 7.5 per cent.
'Increase in VAT, minimum wage to spike inflation by Q1 2020'
Following the implementation of the N30,000 new minimum wage and the planned increase on Nigeria's Value Added Tax (VAT), a research analyst has said the moves are capable of heightening inflationary pressure by the first quarter (Q1) of 2020.
‘Why FG plans pro-people budget for 2020’
Minister of Works and Housing, Babatunde Fashola, has described the 2020 national budget as pro-people and one aimed at driving development in the states to enhance citizens’ welfare.
Government urged to plug leakages instead of increasing VAT
Niger Delta Budget Monitoring Group (NDEUMOG) has called on the Federal Government to jettison its plans of increasing the Value Added Tax (VAT) but to block financial leakages, illicit flows and capital flights in all sectors of the economy.
Government earns N289b from VAT in Q1, loses by three per cent
The Federal Government earned N289.04 billion from Value Added Tax (VAT) in the first quarter of 2019, against N298.01 billion in the previous quarter, representing 3.01 per cent decline. The N8.97 billion VAT shortfall, compared with the previous quarter’s numbers, were part of the more than N300 billion deficit in revenue projection of the government…
States owe FIRS N41bn tax – NEC
The National Economic Council (NEC) says states are owing the Federal Inland Revenue Service (FIRS) N41 billion in Value Added Tax (VAT). Gov. Badaru Abubakar of Jigawa State, disclosed this while briefing State House Correspondents shortly after NEC meeting presided over by the Acting President, Prof. Yemi Osinbajo, on Thursday in Abuja. He said that…
N250b generated from VAT in Q3, says NBS
The National Bureau of Statistics (NBS) has said that the nation generated N250.56 billion from Value Added Tax (VAT) in the third quarter of 2017.
Tackling perennial obstacles of today’s tax administration
The Managing Director of Highcap Securities Limited, Imafidon Adonri explained that multiple taxation has become a big problem in the capital market.