Nigeria Earned N496bn From VAT In Three Months — NBS       The federal government’s Value Added Tax (VAT) collections rose to N496.39 billion in the first quarter of 2021 from the N454.69bn realised in the fourth quarter of 2020, according to the National Bureau of Statistics...

FIRS To Deduct Tax From Defaulters’ Bank Accounts       The Federal Inland Revenue Service (FIRS) has threatened to deduct tax liabilities from defaulters’ bank accounts. It said in a statement in Abuja, Wednesday, that the move was being considered, “following rising cases of willful and illegal withholding...

Dangote Cement To Pay N40bn Tax In Q1, 2021       Dangote Cement Plc is expected to pay N40.39 billion in taxation to the nation’s treasury from its operational result in the first quarter of 2021, the company said yesterday. In a statement, the cement manufacturer cited its...

FG Targets N7bn Annual Tax Revenue From Solar     The federal government has highlighted some of the secondary benefits of the N140 billion solar power programme that is aimed at providing electricity to 25 million Nigerians through off-grid connections to five million homes. The Minister of Power,...

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...

Lagos Govt To Give Tax Break To Looted Businesses       Governor Babajide Sanwo-Olu of Lagos state has promised financial support and tax break to assist tenants and shop owners at the Circle Mall in Lekki after they were affected by the recent #EndSARS protests. He made the...