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Lagos Preparing For VAT Collection – LIRS

Lagos Preparing For VAT Collection - LIRS             The Lagos State Inland Revenue Service has said it is ready for Value Added Tax collection. It disclosed this in an answer to a question raised during the LCCI’s ‘SMEGroup Workshop on Assisting MSMEs with Regulatory Compliance’ that held...

Ogun State Govt Introduces VAT Bill, Scales First, Second Reading At Assembly

Ogun State Govt Introduces VAT Bill, Scales First, Second Reading At Assembly             Ogun State has introduced the Value Added Tax Bill, 2021 at the State House of Assembly in the wake of the raging controversy over the administration of VAT between the Federal Inland Revenue...

The VAT Struggle : Lessons For The North, by Sani Danaudi Mohammed

The VAT Struggle : Lessons For The North, by Sani Danaudi Mohammed             The current VAT struggle between the Federal Government and two states in the South, Rivers and Lagos, is sending strong signals to the slumbering North. Obviously, they, the northern states, have abandoned the...

Oil Marketers Seek Removal Of VAT On Imported Cooking Gas

Oil Marketers Seek Removal Of VAT On Imported Cooking Gas       The Major Oil Marketers Association of Nigeria has said the imposition of Value Added Tax on imported Liquefied Petroleum Gas, also known as cooking gas, will hamper the adoption of the fuel in the country. The...

FIRS, States And Matters Arising, by Abubakar Yusuf

FIRS, States And Matters Arising, by Abubakar Yusuf     Since the introduction of Value Added Tax (VAT) collectible by Federal Inland Revenue Service (FIRS) in Nigeria for many years,the proceeds is often distributed among the three tiers of government ranging from the Federal 36, States ,as...

In Six Months, Nigeria’s VAT Hits N1trn – NBS

In Six Months, Nigeria’s VAT Hits N1trn - NBS       Nigeria generated a N1tn in the first half of the year, consisting of N512.25bn in the second quarter and N495.39bn generated in the first quarter. The figures were contained in the ‘Sectoral distribution of Value Added Tax’...