Tag: VAT
Boom in VAT collection: Health sector grows 250%, ICT follows close NBS
The data shows that most of the VAT came from local payments, which brought in ₦922.87 billion. This was followed…
FG eliminates VAT on food, education, healthcare, reveals start date
The delayed implementation is intended to give the government and stakeholders ample time to prepare, educate the public, and align…
FG rakes in N1.43 trillion from VAT in first quarter of 2024
According to the National Bureau of Statistics (NBS) in its June report, local payments recorded were N663.18 billion, Foreign VAT…
FG hits N600bn VAT in second quarter of 2022 – NBS
According to the report, this shows a growth rate of 1.96 per cent on a quarter-on-quarter basis from N588.59 billion…
VAT: Why Ijewere should help the states in court
Now that the rank of the anti-VAT for states is swelling up, Emmanuel Ijewere, who chaired the defunct Modified Value…
South South Governors join VAT suit in Appeal Court
Rivers State challenged FIRS and has the judgment of a Federal Court that endorsed its right over VAT in its…
VAT Battle: Lagos wins Round one against FIRS
In a unanimous ruling delivered by Justice Haruna Tsammani on Thursday, the court held that Lagos State had established beyond…
VAT: Makinde seeks to join Wike’s suit against FG
The suit is in respect of the bid by the Rivers government to take over the collection of the Value…
NGF awaits Supreme Court verdict on VAT
Fayemi said the forum believes that the controversy over VAT required both political and legal measures to be settled.
Breaking: Lagos Assembly passes VAT, Anti-Open Grazing Bills
The Lagos State House of Assembly on Thursday passed the Value Added Tax (VAT) bill to enable the state government…
FG begins implementation of 7.5% VAT
The Federal Inland Revenue Service has warned businesses and individuals against tax evasion as the Federal Government begins the implementation…
Port Harcourt Disco to begins 7.5% VAT Feb
Port Harcourt Electricity Distribution Company (PHED) will on Feb. 1 begin the implementation of 7.5 per cent Value Added Tax…
Governors react to hate speech bill, VAT increase, minimum wage
The Nigeria Governors’ Forum (NGF) has advised the National Assembly to hold public hearing on the hate speech bill before…
7.2% VAT: FG to make N2 trillion in 2020
The Federal Government of Nigeria is expected to generate not less than N2 trillion into the coffers in 2020 when…
VAT hike will deepen poverty, CSOs warn Buhari
A group of civil society organisations (CSOs) has urged the Federal Government not to implement the plan to increase Value…
Nigerians express disappointment with FG’s VAT increase
Nigerians have expressed their disappointment with the proposed increase in the Valued Added Tax (VAT) rate by the Federal Government.
FIRS to impose VAT on online transactions, says Fowler
The Federal Inland Revenue Service (FIRS) says it will soon begin collection of Value Added Tax (VAT) on online transactions.…
Tinubu to Federal Govt: Stop planned increase in VAT now
The National Leader of the All Progressives Congress (APC), Asiwaju Bola Tinubu on Thursday called on the Federal Government to…
VAT Designed To Support Poor Nigerians, Not Burden Them – Fowler
The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Tunde Fowler, has stated that Value Added Tax (VAT) is primarily…
Buhari explains removal of VAT from domestic air fares
President Muhammadu Buhari says the recent decision by the Federal Government to remove Value Added Tax (VAT) from domestic air…
EU countries still losing billions in VAT due to fraud
EU member states lost almost 150 billion euros (177 billion dollars) in Value Added Tax (VAT) revenues in 2016, with…
South Africa to increase VAT for first time in 25 years
South Africa will increase value added tax (VAT) for the first time in over two decades, the Treasury said on…
Federation Account recorded N797bn VAT revenue in 10 months – Adeosun
Revenue from Value Added Tax (VAT) grossed N797.51 billion into the Federation Account between January and October 2017, the Minister…
FIRS seals up hotel over property variation, VAT
The Federal Inland Revenue Service (FIRS) has sealed Bolingo Hotel in Abuja over property variation of about N320 million and…
FIRS Realises N2.5bn From VAT Automation
The Federal Inland Revenue Service(FIRS) has entered into Value Added Tax (VAT) automation with Aero contractors, Dana and Medview airlines…
FG to raise VAT on luxury items
The FG plans to raise the value-added tax (VAT) on luxury items — subject to the approval of the national…
Senate approves 3% VAT deduction to rebuild North-East
The Senate on Thursday approved the allocation of three percent of Value Added Tax (VAT) accruable to the Federal Government…
Hike In Tariffs On Imported Vehicles
The increase in the tariffs on imported vehicles has been generating a hot debate among stakeholders. While it has been…