FG to Stop Customs, 62 other MDAs from Collecting Revenues The Presidential Committee on Tax Policy and Fiscal Reforms says the Nigeria Customs Service and 62 other Ministries, Departments and Agencies (MDAs) of the Federal Government will stop direct collection of revenue. This was disclosed by...

'Nigeria Loses N20trn To Tax Underpayment'   Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, has said tax gap in Nigeria hovers around N20 trillion. He, however, pledged the total commitment of the committee to bring about comprehensive and harmonised tax...

Tinubu Chases 18% Tax-GDP Ratio, Vows to Cut Borrowing President Bola Ahmed Tinubu has expressed his commitment to break the vicious cycle of overreliance on borrowing for public spending. The President said the resulting burden of debt servicing is not good for the country's economy. Inaugurating the...

FG Begins Harmonisation of Taxes, Inaugurates Committee Today The federal and state governments have commenced harmonisation and codification of taxes at the national and sub-national levels to eliminate multiple taxation and increase revenue. In line with this, President Bola Tinubu is also expected to inaugurate the...

Agents Predict 15% Rise in Car Import Over Tax Removal Licensed Customs agents have said that the removal of the import adjustment tax by President Bola Tinubu would boost car importation by 15 per cent. According to the founder of the National Council of Managing Directors...

Mechanics, Traders Decry Multiple Taxation, Pay N167bn   Nigerians engaged in wholesale and retail trade and repair of motor vehicles and motorcycles paid a total tax of N167.45bn between the first quarter of 2022 and Q1 2023. The total tax was raised from Value Added Tax and...