Tag: VAT

Govs Back Tax Reform Bills
January 17, 2025 No Responses

Govs Back Tax Reform Bills

The 36 state governors in Nigerian have thrown their weight behind the Federal Government’s tax reform bills.  The governors are also proposing a new sharing formula for value-added tax (VAT).  The decision followed a meeting of the Nigeria Governors’ Forum...
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FIRS Partners Market Traders Association On VAT Remittance From Informal Sector 
June 22, 2023 No Responses

FIRS Partners Market Traders Association On VAT Remittance From Informal Sector 

The Federal Inland Revenue Service (FIRS) has partnered Market Traders Association of Nigeria (MATAN) as part of measures to collect and remit Value Added Tax (VAT) to the FIRS from markets, especially in the informal sector.   The Association which ...
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FIRS Embarks On Nationwide Tax Compliance Campaign 
June 11, 2022 No Responses

FIRS Embarks On Nationwide Tax Compliance Campaign 

The Federal Inland Revenue Service (FIRS) is to embark on a compliance exercise from July, 2022 on Value Added Tax (VAT) and Withholding Tax (WHT).  The announcement is contained in a public notice signed by the FIRS Executive Chairman, Muhammad...
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South-South Governors To Join VAT Suit
October 5, 2021 No Responses

South-South Governors To Join VAT Suit

Governors of South-South states, on Monday,  resolved to join the suit currently before the Supreme Court over the collection of Value Added Tax (VAT).  The VAT case is between the Federal Inland Revenue Service (FIRS) and the Rivers Government....
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VAT: Oyo Seeks To Join Rivers’ Suit Against FG
September 30, 2021 No Responses

VAT: Oyo Seeks To Join Rivers’ Suit Against FG

The Oyo State Government has asked the Court of Appeal, sitting in Port Harcourt, to be joined in the suit instituted by the Rivers State Government against the Attorney-General of the Federation.  The suit is in respect of the bid...
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Organised Private Sector Seeks FG’s Directive On VAT Payment
September 20, 2021 No Responses

Organised Private Sector Seeks FG’s Directive On VAT Payment

The Organised Private Sector of Nigeria (OPSN) on Sunday in Lagos called on the Federal Government to urgently make a pronouncement on the ongoing controversy over VAT payment.  This, it said, would enable businesses to know what to do.  OPSN...
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FIRS Affirms Position On VAT Collection
September 7, 2021 No Responses

FIRS Affirms Position On VAT Collection

The Federal Inland Revenue Service (FIRS) has urged taxpayers not to panic over the recent court ruling by the Federal High Court sitting in Port Harcourt which dismissed its motion for stay of execution of the judgment that Rivers State...
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FG Generates N424.71b VAT In Q3
November 3, 2020 No Responses

FG Generates N424.71b VAT In Q3

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Saudi Arabia Triples VAT, Suspends Allowance
May 11, 2020 No Responses

Saudi Arabia Triples VAT, Suspends Allowance

Saudi Arabia is tripling its value added tax (VAT) as part of austerity measures to support its coronavirus-hit economy. The government in Riyadh also said it will suspend its cost of living allowance to shore up state finances. The oil-rich...
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Labour Faults Increase In VAT
January 15, 2020 No Responses

Labour Faults Increase In VAT

The Trade Union Congress of Nigeria (TUC) has described increase in the Value Added Tax (VAT) from 5.0 per cent to 7.5 per cent by the Federal Government “as a deliberate attempt to further overburden the common man and stifle...
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Tinubu To FG: Don’t Increase VAT
March 29, 2019 No Responses

Tinubu To FG: Don’t Increase VAT

All Progressive Congress (APC) National Leader and former Lagos State Governor, Bola Tinubu on Thursday advised the Federal Government not to increase the Value Added Tax (VAT). He explained that  a new VAT regime will increase the burden of Nigerians....
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2018 Q4: Nigeria Generates N298b From VAT
February 23, 2019 No Responses

2018 Q4: Nigeria Generates N298b From VAT

For the fourth quarter, 2018, Nigeria generated N298.01 billion from Value Added Tax (VAT).  The National Bureau of Statistics ( NBS ) gave the update on its website  in  a Sectoral Distribution of VAT report for the fourth quarter, 2018....
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