Tag: Value Added Tax
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Nigeria targets tax cut with major reforms to boost efficiency
The Presidential Committee on Tax Reforms and Fiscal Policy says it is determined to simplify the excessive number of collectable taxes and levies, currently exceeding 60, aiming to reduce them to fewer than 10 at all levels of government. Chairman of the Committee, Taiwo Oyedele, made this known when he addressed State House Correspondents on…
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VAT battle with FG: Wike blows hot, vows to enforce Rivers tax law
VAT battle with FG: Wike blows hot, vows to enforce Rivers tax law
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VAT yesterday, today and forever – Dele Sobowale
By Dele Sobowale “FG, States, LGs share N601bn for November.” News Report, December 2020. Truth is constant; and wisdom is enduring. The amount shared by the three tiers of government for November, which will determine whether or not public servants will be fully paid their salaries for December 2020, is 14 per cent less than…
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FEC approves 2.2 per cent increment in Value Added Tax
A new Value Added Tax (VAT) of 7.2 percent has been approved for Nigeria by the Federal Executive Council (FEC), Minister of Finance, Budget and Planning, Mrs Zainab Ahmed, has announced. Addressing newsmen after the weekly FEC meeting on Wednesday, the Minister said this increment was subject to an amendment of the VAT act of…