…As FG, States, LGCs share N1.3trn By Mathew Denis, Abuja Value Added Tax (VAT) for the month of June 2024 increased by N65.020 Billion according to a Communique issued by the Federation Account Allocation Committee (FAAC). According to the FAAC,…
Nigeria is set to tap into its cryptocurrency market, which is valued at $56.7 billion, by implementing a 7.5 percent value-added tax (VAT) on crypto transactions. Starting on July 8, 2024, KuCoin, a crypto platform, will begin charging the 7.5…
…FG, States, LGs share N1.14trn By Seun Ibiyemi The Federation Account Allocation Committee (FAAC) has revealed that there was a sharp decrease in revenues accruing from the Value Added Tax (VAT), Import and excuse duties, amongst others. The FAAC made…
…Proposes harmonisation of consumption to promote ease of doing business …Seeks to introduce tax returns on gas companies An imminent review of the current percentage deducted for Value Added Tax (VAT) and the sharing formula amongst the federal, state and…
The National Bureau of Statistics (NBS), said the aggregate Value Added Tax (VAT) stood at N948.07 billion in Q3 2023. This is according to the VAT Q3 2023 Report released in Abuja on Monday. The report shows a growth rate…
The Federal Government has removed VAT and customs duty payments from cooking gas imports. This is according to a letter written to several government agencies. The federal government has decided to waive customs duty and value-added tax (VAT) on the…
Tijanee AbdulGafaar Adeneye, a Fellow of Institute of Chartered Chemists, is the current Chairman, Chemicals Society of Nigeria, Lagos chapter, he is also the MD/CEO, Fundamental Technology Limited, the producers of Funda Paints: a rising on-demand coating Company with diverse…
Tijanee AbdulGafaar Adeneye, a Fellow of Institute of Chartered Chemists, is the current Chairman, Chemicals Society of Nigeria, Lagos chapter, he is also the MD/CEO, Fundamental Technology Limited, the producers of Funda Paints: a rising on-demand coating Company with diverse…
Some experts have called on the Federal Government to widen the tax net to include the informal sector and unregistered businesses in order to increase the country’s revenue base. The experts gave this advice at the Detail Tax Business Series…
By Ibiyemi Mathew The Centre for the Promotion of Private Enterprise (CPPE) has kicked against the planned move by the Federal Inland Revenue Service (FIRS) to tax the informal sector. The Federal Inland Revenue Service (FIRS) had earlier revealed plans…
