House To Probe Dormant VAT Waiver For Airlines       The House of Representatives is to probe the non-implementation of waiver of the payment of Value Added Tax (VAT) granted Nigerian Airlines two years ago. The removal of VAT for domestic airlines was approved in 2018 in an...

Senate Seeks Zero Duty On Aircraft Importation, Spare Parts         The Senate at plenary on Tuesday called on the Federal Government to fully implement the Executive Order on zero Customs duty and zero Value Added Tax on the importation of commercial aircraft and aircraft spare parts,...

FIRS Generates N4.178trn In 10 Months         The Federal Inland Revenue Service on Monday said as of the end of October this year, it had generated N4.178 trillion out of the target of N4.23 trillion for the same period. Coordinating Director, Tax Operations Group of the FIRS,...

Experts Blame Fuel Price Hike, Borrowing As Inflation Climbs To 14.23%         The hike in food prices and other individual consumption across the country further increased the rate of inflation in Nigeria to 14.23 per cent in October. Figures released by the National Bureau of Statistics on...

No Plan To Increase VAT, Others – Fed Govt       The Federal Government has refuted speculations it plans to increase the Value Added Tax (VAT) and other taxes in its proposed Finance Bill. Minister of Finance, Zainab Ahmed, who spoke while defending the Ministry’s budget before the...

Nigeria Generated N424bn VAT In Q3, 2020 – NBS       The National Bureau of Statistics on Monday said N424.71bn was generated as VAT in the third quarter of the year. This was against N327.20bn generated in Q2 2020 and N275.12bn generated in Q3 2019. It said the third...