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 to boost investment in the country.
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.
House of Reps may pass financial bill authenticating VAT increase Wednesday
The House of Representatives may tomorrow pass the Financial Bill increasing the Value Added Tax (VAT) from five to 7.5 per cent. Chairman of the Committee on Finance, James Abiodun Faleke, dropped the hint at the end of the piece of legislation’s public hearing..
Tax professionals seek increase in indirect taxation to improve revenue
Following Federal Government’s plans to increase Value Added Tax (VAT) rate from five per cent to seven per cent, tax professionals have maintained that there is the need to increase indirect taxation to generate more revenue for government.
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.
Enlarging the surface area of poverty, lack and destitution in Nigeria
The official announcement of the proposal to “shore up” the economy via the instrumentality of a 7.2% hike in Value Added Tax (VAT) on a variety of consumer items and of the thankfully rested re-introduction...
Government orders payment of new minimum wage from April 18
Full payment of the new minimum wage to Nigerian workers takes effect from April 18, 2019. The Federal Executive Council (FEC) presided over by Vice President Yemi Osinbajo issued the directive yesterday in Abuja.
'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.
Still on VAT increase
Unless where government is using it to control unending longing of Nigerians for exotic products and ostentatious lifestyles.This takes me to the fiscal reforms that have been going on in China, whose model is copiously being referred to as one that promotes both fast economic development...
Still on VAT increase
That the recent announcement of the proposed increase in the Value Added Tax rate from five percent to seven-and-half percent is generating ripples and knocks is not unexpected.