value added tax (vat)

Nigeria’s communications minister says 7.5% tax deductions on voice and data is beyond his office. Dr. Isa Pantami, says Nigerians should direct their enquiries to the Federal Inland Revenue Service. Nigerians continue to slam government over deductions of new 7.5% VAT on telecommunication...

Dr Isa Pantami, Nigeria’s Minister of Communications and Digital Economy has broken his silence after Nigerians complained of 7.5 per cent Value Added Tax (VAT) on voice calls and text messages..... Read more via Tori News – https://ift.tt/2vdfV7C Get More Nigeria Metro News

STOCK STOCK market investors and operators will from today pay more as transaction cost for shares traded on the Nigerian Stock Exchange, NSE following the commencement of the implementation of the new Value Added Tax, VAT of 7.5 … Read more via Vanguard News – https://ift.tt/2H0edcp Get...

As the implementation of the new 7.5 per cent Value Added Tax rate begins on Saturday (today ), the Federal Inland Revenue Service has warned businesses and individuals against tax evasion. The Federal Government had said it would from today begin the implementation of the 7.5 per cent Value...

The Federal Inland Revenue Service has warned businesses and individuals against tax evasion as the Federal Government begins the implementation of the 7.5 per cent Value Added Tax on Saturday (today). The VAT increase which is meant to help government achieve its revenue projections for the...

The Presidency on Sunday disclosed that some basic daily needs were exempted from the Value Added Tax (VAT) to allay fears on the likely impact of the new VAT on low-income persons. The Presidency also highlighted the benefits of … Read more via P.M. News – https://ift.tt/38rNG3j Get More...

Following reactions and criticisms that have been triggered by the new Value Added Tax of N7.5, the presidency has made some clarifications as well as revealed items that will not be affected by the increment. According to a statement by Laolu Akande, the spokesperson of the vice president...

The President Muhammadu Buhari-led government has revealed goods and services exempted from the Value Added Tax, VAT increase. According to the details sent to DAILY POST on Sunday from the office of the Vice President, Prof. Yemi Osinbajo, several basic food items, locally manufactured...

Mrs Zainab Ahmed, the Minister of Finance, Budget and National Planning says the implementation of Value Added Tax (VAT) increase from five per cent to 7.5 per cent … Read more via The Guardian Nigeria News – Nigeria and World News – https://ift.tt/2QZx50I Get more: Nigeria Business News

Mrs Zainab Ahmed, the Minister of Finance, Budget and National Planning has disclosed that the implementation of Value Added Tax (VAT) increase from five per cent to 7.5 per cent will take effect from Feb. 1. Ahmed said this during the inauguration of the Chairman and Board … Read more via...

The Federation Accounts Allocation Committee (FAAC) has shared N716.298 billion to the three tiers of government for the month of December 2019. The Permanent Secretary, Ministry of Finance, Budget and National Planning, Alhaji Isa Dutse disclosed this while addressing newsmen on the outcome...

The implementation Of 7.5% VAT on transactions has already commenced which would help raise revenue for the government by various fiscal measures.... Read more via Tori News – https://ift.tt/2ss5ZGd Get more: Nigeria Business News

On Thursday, the Senate passed the Finance Bill aimed at amending the seven Acts of the National Assembly relating to taxes payable in the country. According to Punch, the bill clearly seeks an increase of value-added tax from 5 per cent to 7.5 per cent, increment in the Companies Income …...

The Senate, yesterday, said that the increase in Value Added Tax (VAT) paid on luxury goods from 5% to 7.5%, as requested for by the executive in the Finance Bill 2019, was not intended to impose economic hardship … Read more via Newtelegraph – https://ift.tt/339GCFp Get more: Nigeria...

Nigeria’s value added tax (VAT) collection grew by 34 per cent between 2016 and 2018 from N828 billion to N1.108 trillion, according to the Federal Inland Revenue Service (FIRS). In a presentation by coordinating director, Domestic Taxes Group, FIRS, Mr Abiodun Aina, at the Chartered Institute...

The Coalition of United Political Parties (CUPP) has dragged the federal government to court, seeking an order to set aside the proposed increment on Value Added Tax (VAT) imposed on Nigerians by the present APC administration. Other defendants in the suit marked FHC/ABJ/CS/1249/2019, filed...

The International Monetary Fund (IMF) has cautioned Nigeria and other African countries against their rising level of indebtedness to China, stressing that the non-Paris Club creditors, “create some instability or some..... Read more via Thisdaylive – https://ift.tt/2Mn7Ym9 Get more World News

The Association of Bureaux De Change Operators (ABCON) has warned the Federal Government against the proposed increment in Value Added Tax (VAT). While condemning the Federal Government’s move to expand the VAT net and increase it, the Bureaux De Change operators unanimously said it was a...

Giving an explanation on how the proposed Value Added Tax (VAT) will be shared, Minister of Works and Housing, Babatunde Fashola, noted that the bulk of the money would be enjoyed by the States and.... Read more via Nairametrics – https://ift.tt/2orTDvQ Get More Nigeria Political News

Suppliers and stakeholders in the oil industry, under the aegis of Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), have thrown their support behind the federal government on the proposed 7.2% VAT increase, saying it will go a long way in funding the various ongoing … Read more...