2021 Budget: Increasing IGR To Stave Off Debt Accumulation         Two things that stood out in President Muhammadu Buhari’s 2021 budget presentation at the National Assembly last week are the desire to steer the economy away from racking up debts to increasing its revenue generation capacity...

Fuel, Power, VAT Increments Due To Tariff Hike – DSTV       MultiChoice Group, owners of the DSTV, has blamed the recent hikes in its subscription tariffs on high cost of production, especially the increment of Valued Added Tax and poor power supply leading to provision of...

N651.77bn Generated From VAT In Six Months – NBS     A total of N651.77bn was generated from Value Added Tax in the first half of 2020, according to latest figures from the National Bureau of Statistics. The NBS disclosed this on Monday in its report on, “Sectoral...

Reverse VAT To 5%, NECA Urges FG   The Nigeria Employers’ Consultative Association (NECA) has urged the Federal Government to reverse the current Value Added Tax (VAT) from 7.5 per cent to initial five percent. NECA said this should be part of the measures to ameliorate the...

Budget 2020: Low VAT Collections Threaten Revenue Projections     Plans by the fiscal authorities to bridge the 2020 deficit gap partly through the Value Added Tax (VAT) rate hike from 5% to 7.5% this fiscal year may be scuttled by the lingering lockdown occasioned by the...

Nigeria Generated N338.94bn VAT In Q1 – NBS     Nigeria generated N338.94bn Value Added Tax in the first quarter 2020, the National Bureau of Statistics disclosed on its report on Sectoral distribution of Value Added Tax Q1. It stated, “Sectoral distribution of Value Added Tax data for...