Tax Revenue Hits N3.48trn in H1’23 - Report
Revenue from Value Added Tax (VAT) and Company Income Tax, CIT, grew Year-on-Year (YoY) by 17 percent to N3.48 trillion in the first half of 2023 (H1’23) from N2.97trillion in the corresponding period of 2022, H1’22.
Details of...
Consumers, Companies’ Taxes Increase by 96% to N2.3trn
Government revenue got a boost as taxes from companies and consumers rose by 96.11 per cent to N2.31trn in the second quarter of 2023, signifying a huge jump between the first quarter and second quarter of the...
In Six Months, Product Taxes Rise To N1.36trn – NBS
Taxes on products in the country rose to N1.36tn in the first six months of 2023 despite worsening hardship across the board.
This is a 113.29 per cent increase from the N636.19bn it was in the...
Appraising Tinubu's Move to Reform Nigeria's Tax System
By Zekeri Idakwo
During the week, President Bola Ahmed Tinubu inaugurated a 40-man Committee on Fiscal and Revenue Reforms. According to the Chairman of the Committee, Taiwo Oyedele, "Nigeria loses N20 trillion yearly to tax gap". This is...
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...
