Government makes N1.08tr from VAT in nine months
The Federal Government generated N1.08 trillion from Value Added Tax (VAT) in the first nine months of this year, the National Bureau of Statistics (NBS) has disclosed.
Saudi triples VAT in unpopular virus-led austerity push
Saudis braced Wednesday for a tripling in value-added tax, another unpopular austerity measure after the twin shocks of coronavirus and an oil price slump triggered the kingdom's worst economic decline in decades.
Saudi triples VAT, halts govt handouts in austerity drive
Saudi Arabia's finance minister on Monday said the kingdom will triple its Value Added Tax (VAT) and halt monthly handout payments to citizens in new austerity measures amid a coronavirus-led economic slump.
Operators seek tax holiday, subsidy to save airlines
Worried by the fate that awaits local carriers, operators yesterday, appealed to the Federal Government to introduce some economic recovery measures to safeguard airlines from collapse.
‘Coronavirus, VAT increment to affect meter supply to customers'
The Ibadan Electricity Distribution Company (IBEDC) said the outbreak of Coronavirus pandemic codenamed COVID-19 in China and other parts of the world, as well as the upward review of Value Added Tax from five to 7.5 per cent are major obstacles hindering the supply of meters to customers in its area of franchise.
Kenya announces VAT cut to cushion COVID-19 effects on economy
Kenya on Wednesday said it will cut the value-added tax rate to 14 per cent from 16 per cent as part of a series of measures to help cushion the economy from the impact of the coronavirus outbreak.
How coronavirus will affect Nigeria’s real estate, house prices
As the coronavirus continues to spread, there is fear and trepidation in the air among real estate community, especially as travel and other economic activity has slowed or stopped.
FIRS working to increase PAYE tax compliance - Nami
The Federal Inland Revenue Service (FIRS) says it is working closely with Ministries, Departments, and Agencies (MDAs) to increase the rate of compliance with the remittance of Pay-As-You-Earn (PAYE) tax.
Investors still wary despite Finance Act’s facelift
Until the numbers begin to fall in place and infrastructure investments that are needed to facilitate businesses are clearly seen, the fiscal turnaround contained in the Finance Act 2020 would still not reduce significantly the high premium now charged for investments in the country.