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...

Fed Govt May Reduce Minimum Tax Rate Next Year       The draft Finance Bill 2020 contains a proposal for the reduction of the minimum tax rate to be paid by companies next year in light of the current economic climate, according to the Fiscal Policy Reforms...

Fed Govt Considers Another Tax Exemption For Small Businesses       The exemption of small businesses from the payment of tertiary education tax has been proposed in the draft Finance Bill 2020. This was disclosed by the Fiscal Policy Reforms Committee, established by the Ministry of Finance, Budget...

Nigeria Generated N424bn VAT In Q3, 2020 – NBS       The National Bureau of Statistics on Monday said N424.71bn was generated as VAT in the third quarter of the year. This was against N327.20bn generated in Q2 2020 and N275.12bn generated in Q3 2019. It said the third...