Tag: VAT
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VAT: Niger Delta’s quest without roadmap – By Pius Mordi
When President Bola Ahmed Tinubu unveiled his proposal on a new formula for sharing proceeds from Value Added Tax (VAT), he may have thought that he only had to reckon with expected opposition of northern states.
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Tax reform bills propose new sharing formula, cede 55% to States
The bills are a set of four legislative proposals to increase Value-Added Tax (VAT) distributable to the sub national governments to 55 per cent while reducing the federal government’s share to 10 per cent.
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FG jittery, quickly denies report of increasing VAT to 10% despite hardship in Nigeria
The Finance Minister and Coordinating Minister of the Economy, Wale Edun, has denied a report of a potential hike in the Value-Added Tax (VAT) rate from 7.5% to 10%. In a statement released Monday, Edun clarified that the VAT rate is still firmly set at 7.5%, as outlined in Nigeria’s tax laws. “The current VAT…
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How Nigerians paid N1.43trn VAT in Q1 2024; company tax stands at N984.61bn
The National Bureau of Statistics (NBS), said the aggregate Value Added Tax (VAT) stood at N1.43 trillion in Q1 2024.
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FG rakes in N948 billion in VAT payments
The National Bureau of Statistics (NBS), said the aggregate Value Added Tax (VAT) stood at N948.07 billion in Q3 2023.
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Just In: FG temporarily removes VAT from diesel
The Federal Government has announced the removal of the value-added tax (VAT) on diesel for the next 6 months. This was disclosed by Chief of Staff to President Tinubu, Femi Gbajabiamila as part of the waivers from the resolution reached between the Federal Government and leadership of the Nigeria Labour Congress (NLC) and Trade Union…
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How FG, States, LGs shared N786.161 billion revenue for May
The Federation Account Allocation Committee (FAAC) has shared a total sum of N786.161 billion May 2023 Federation Account Revenue to the Federal Government, States and Local Government Councils.
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Nigeria records N710bn VAT in Q1 2023 – NBS
The National Bureau of Statistics (NBS), said the aggregate Value Added Tax (VAT) stood at N709.59 billion in Q1 2023.
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A nation where everyone is oppressed – By Owei Lakemfa
Nigerians have the next 70 days to survive a regime that has chastised them with whips and is promising to further chastise them with scorpions. Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, last week not only renewed the Buhari regime’s threat to increase Nigerians heavy burden by piling far higher fuel prices,…
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Finance Minister urges incoming administration to raise VAT to 10%
Nigeria’s Minister of Finance, Budget and National Planning Zainab Ahmed, has advised the next administration to increase Value Added Tax (VAT) from 7.5 per cent to 10 per cent saying it will stimulate growth. Ahmed who gave the advise during a meeting in Abuja on Tuesday, also disclosed that the President Buhari-led administration initially targeted…