Tag: Value Added Tax (VAT)

The Federation Account Allocation Committee (FAAC) has distributed N1.411 trillion among the three tiers of government for October 2024. 

Kreston Pedabo, a leading accounting firm, has voiced it worries concerning the recent 2024 VAT Modification Order by the Federal Government, particularly its implications for the energy sector. 

The federal government has removed 63 key items from Value-Added Tax (VAT) as part of its fiscal reforms intended to stimulate economic growth. 

Report Reveals Real Estate Sector Paid N70bn VAT In Five Years   Value Added Tax (VAT) generated from the construction and real estate sector rose by 124 per cent from N10bn in 2018 to N22.45bn in 2022. An analysis of the National Bureau of Statistics’ quarterly VAT...

FIRS To End Multiple Taxation, Collect VAT The Federal Inland Revenue Service says it has commenced an initiative to end multiple taxation and collect Value Added Tax (VAT) from Market Traders Association of Nigeria (MATAN) and other informal sector operators. The association, with a membership of...

FG Rakes In N1.4trn From VAT, CIT In 3 Months – NBS   The National Bureau of Statistics (NBS) has disclosed that the federal government generated N1.435trn from Value Added Tax (VAT) and Company Income Tax (CIT) in the third quarter of 2023. NBS, in reports it...