Nigeria Has Lowest Tax Rate Globally, Says Agba   The Minister of State for Budget and National Planning, Prince Clem Agba, has defended the recent increase in Value Added Tax (VAT) from 5 per cent to 7.5 per cent by the federal government, saying despite the...

2020 Budget: 85% VAT Going To States, LGAs – Fashola   The Minister of Works and Housing, Babatunde Fashola, has said that 85 per cent of the Value Added Tax to be raised in the 2020 budget will go back to the states and local governments...

President Buhari Exempts Firms With N25m Turnover From VAT   Firms making a turnover of N25 million and below will be exempted from payment of the Value Added Tax (VAT), President Muhammadu Buhari said on Tuesday. He stated this while presenting his N10.33 trillion 2020 budget estimates...

30,000 Firms In Kaduna Fail To Pay Taxes   THE chairman, Kaduna State Internal Revenue Services, Zaid Abubakar, has said more than 30,000 companies in the state do not pay their taxes. He said this on Tuesday in Kaduna when a civil society organisation, Tax Justice and...

VAT Collection Still At 0.2%, FG Says   Mrs. Zainab S. Ahmed has said the collection of the value added tax (VAT) is still at a paltry 0.2 percent, well below the African average of 0.33 percent. The minister disclosed this yesterday at the ongoing economic summit...

Tenure: FIRS Boss, Fowler To Know Fate On October 11   The Federal High Court sitting in Kano has today heard the Originating Summons of a Lawyer, Stanley Okwara seeking to sack Dr. Babatunde Fowler as the Executive Chairman of the Federal Inland Revenue Service (FIRS). After...