Browsing Tag
Value Added Tax
10 posts
VAT is still 7.5%, all talk outside the law is nothing but lies, Finance Minister, Edun debunks increase
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has dismissed claims that the rate for Value-Added Tax (VAT) has been upwardly adjusted to 10 per cent from 7.5 per cent.
Federal Allocation: FG, States, LGs shared N736.8bn in October – FAAC
The Federation Account Allocation Committee (FAAC) has distributed a total of N736.782 billion to the three tiers of government as federation allocation for the month of October 2022.
Oil revenue falls from 46.9% to 7.4% in 5 years – Expert
An economic expert, Dr. Afolabi Olowookere, has said that oil revenue, in terms of contribution to Federation Accounts, fell from 46.9 percent in 2017 to 7.4 percent in the first half of 2022.
FAAC: FG, States and LGAs share N700.235bn for Sep 2022
The Federation Account Allocation Committee (FAAC) has shared N700.235 billion to the three tiers of government as federation allocation for September 2022.
FG grants N16tn waiver to Dangote, Honeywell, others – The PUNCH
The Federal Government has foregone N16.76tn in revenue to tax reliefs and concessions given to large companies between 2019 and 2021, according to findings by The PUNCH.
Why States must collect VAT – Southern Governors
The Southern Nigeria Governors Forum has supported moves by States to take over the collection of Value Added Tax (VAT) from the Federal Inland Revenue Service (FIRS).
State VAT Laws is restructuring; I support it 100% – Adegboruwa
A senior Advocate of Nigeria (SAN) and Constitutional lawyer, Ebun-Olu Adegboruwa has commended the enactment of bills to collect Value Added Tax (VAT) by state governments, saying it is all about restructuring.
Lagos generates over N500bn VAT annually- Rt. Hon Obasa
The Speaker, Lagos State House of Assembly, Mudashiru Obasa, on Wednesday, disclosed that Lagos State generates an excess of N500 billion in Value Added Tax, VAT form annually.
Nigerian Govt approves 2022 – 2024 MTEF/FSP
The Federal Executive Council (FEC) has approved the 2022 – 2024 Medium Term Expenditure Framework and the Fiscal Strategy Paper (MTEF/ FSP).
SANWO-OLU: Why I refused to acquire new vehicles as Governor
…Urges tax professionals to occupy leadership positions for increased revenue Lagos State Governor, Mr. Babajide Sanwo-Olu on Thursday…