FG to Implement Telecoms Tax to Boost Revenue   The Federal Government is set to implement excise duty on telecommunication services to boost its revenue base. It disclosed this in its newly released 2024-2026 Medium-Term Expenditure Framework and Fiscal Strategy Paper. It would be recalled that President Bola...

Only 40m Out of 200m Nigerians Pay Tax – RMAFC   Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mohammed Bello Shehu, has revealed that only 40 million out of over 200 million Nigerians currently pay taxes to the nation’s coffers. Speaking with Economic Confidential, Shehu said that...

FG Rules Out Fresh Taxes, Charges in Aviation   Minister of Aviation and Aerospace Development, Mr Festus Keyamo, yesterday said the plan to improve the revenue generation by aviation agencies was not tantamount to raising taxes and charges. However, he said the federal government’s intention was to...

'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...