'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...

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...

NECA Warns FG Against IMF Demand, Rejects Tax Hike   The Nigeria Employers’ Consultative Association (NECA) says the International Monetary Fund (IMF)’s call on the Federal Government to increase taxes in order to reduce borrowing will affect economic growth and worse the country’s plight. The Director General...

MAN Says Carbonated Drink Tax Affected Manufacturers In 2022   The Manufacturers Association of Nigeria (MAN) has said that a major setback that plagued the productive sector in 2022 was the introduction of an excise duty of N10 per litre on all non-alcoholic, carbonated and sweetened...

FG Announces Removal Of 5% Tax On Calls, Data   The Federal Government has announced the removal of its proposed five per cent excise duty on telecommunication services. The government announced that this was in line with the recommendations of a committee, the Presidential Review Committee on...

Companies, Consumers Taxes Hit N5.3tn – NBS The National Statistics Bureau data shows that consumers of goods and services and companies paid N5.34tn as taxes to the government in 2022. This represents a 42.14 per cent increase from the N3.76tn that was raised in 2021. The...