Nigerians Groan Over Effects Of 7.5% VAT On Petrol Prices   Nigerians have begun to lament the effects of the introduction of a 7.5 per cent Value-Added Tax (VAT) on the price of premium motor spirit, otherwise known as petrol. This comes barely a month after President...

Manufacturers Tax Payments Rise to N62bn in Q1 2023 – NBS The Company Income Tax that manufacturers paid rose by 29 per cent to N62bn in the first quarter of 2023 from N44bn in the same period last year, according to reports published by the...

Companies, Consumers Paid N1tn Tax in Q1 2023 - Report The National Bureau of Statistics recent report says consumers of goods and services and companies paid about N1.18tn as taxes to the government in the first quarter of 2023. This represents a slight increase from the...

Import Tax: FG Eyes N124bn from 0.5% Imposition The Federal Government is set to make about N124.26bn in a year from the imposition of a 0.5 per cent import tax on goods introduced in Finance Bill 2023. The Finance Bill 2023 which was signed into law...

Taxes On Products Rise By 112%, Now N3trn   Total taxes on products in the economy rose by 112.02 per cent from N1.43tn in 2019 to N3.03tn in 2022, coinciding with a Value Added Tax hike from five per cent in 2020 to 7.5 per cent...

AU: Nigeria, Others Target $220b Revenue from Taxes Nigeria and other members of African Union are taking steps to enact legislation to attract additional revenue of $220 billion from taxes. Also, there are moves to boost generation by approximately $40 billion from cross border transactions. Members of...