Top Ten Banks Pay N260.3bn As Income Tax   Ten top commercial banks listed on the Nigerian Exchange Limited have paid N260.3 billion as Company income tax (CIT) in 2022, representing a 28 percent increase over the N203.06 billion they paid in 2021. This was disclosed by...

MAN, Others Reject FG’s Excise Tax Hike   The Organised Private Sector of Nigeria comprising the Manufacturers Association of Nigeria (MAN), the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), the Nigeria Employers’ Consultative Association (NECA), the Nigerian Association of Small Scale Industries...

Fed Govt Dumps 5% Telecom Tax Waiver   The Federal Government is reportedly set to proceed with its implementation of a five per cent excise duty tax on mobile telephone services, fixed telephone, and Internet services. This is despite a recent communication by the Minister of Communications...

NECA Warns FG Against IMF Demand, Rejects Tax Hike   The Nigeria Employers’ Consultative Association (NECA) says the International Monetary Fund (IMF)’s call on the Federal Government to increase taxes in order to reduce borrowing will affect economic growth and worse the country’s plight. The Director General...

Fed Govt To End Multiple Taxation On Roads   The Federal Government on Tuesday said it is working to remove multiple taxation on roads to promote free movement of goods within the country. The government said that multiple taxation on roads was against ECOWAS rules and regulations. The...

MAN Says Carbonated Drink Tax Affected Manufacturers In 2022   The Manufacturers Association of Nigeria (MAN) has said that a major setback that plagued the productive sector in 2022 was the introduction of an excise duty of N10 per litre on all non-alcoholic, carbonated and sweetened...