CITN Seeks Holistic Review Of Tax Incentives         The Institute of Taxation of Nigeria (CITN) has called for a more holistic review of the country’s tax incentives regime. They urged that tax incentives must be properly structured towards achieving its objectives. President and Chairman of Council, CITN, Gladys...

Fed Govt Waives N1.3trn In Import Duty, VAT         The Federal Government yesterday, said it has waived import duty and Value Added Tax, VAT, valued at about N1.3 trillion in addition to other incentives in nine years to 2019. The Minister of Finance, Budget and National Planning,...

House To Probe Dormant VAT Waiver For Airlines       The House of Representatives is to probe the non-implementation of waiver of the payment of Value Added Tax (VAT) granted Nigerian Airlines two years ago. The removal of VAT for domestic airlines was approved in 2018 in an...

Company Income Tax Revenue Hits N416.01bn In Q3 - NBS         Revenue from Company Income Tax rose slightly to N416.01bn as of the end of the third quarter of 2020. The National Bureau of Statistics disclosed this in the Company Income Tax by Sectors (2015 – Q3...

Senate Seeks Zero Duty On Aircraft Importation, Spare Parts         The Senate at plenary on Tuesday called on the Federal Government to fully implement the Executive Order on zero Customs duty and zero Value Added Tax on the importation of commercial aircraft and aircraft spare parts,...

Income Tax Revenue Lags Behind Fed Govt Projections         Amidst various pressures on the Federal Government’s finances and 2020 budget’s revenue estimates, an indication has emerged that the government has already recorded a 25.3 per cent shortfall in Company Income Tax, CIT, in the first six...