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.
Experts seek removal of VAT, withholding tax on dividend, others
To spur stock market rebound post-COVID-19, experts have called for the removal of Value Added Tax (VAT), and stamp duty on capital market transactions.
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.
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.
Buhari moves to gazette February 1 date for VAT increase implementation
President Muhammadu Buhari, yesterday, sent an Executive Bill to the National Assembly seeking an amendment to some provisions of the Finance Act 2019.
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.
‘New VAT hike may limit telephony access to 90m Nigerians’
The Federal Government’s 7.5 per cent new Value Added Tax (VAT) increment on goods and services may limit telephony access of some 90 million Nigerians estimated to be below the poverty line in the country.