Twenty Food Items, Others Get VAT Exemption   About 20 basic food items, locally manufactured sanitary towels, pads and tuition fees relating to nursery, primary, secondary and tertiary education have been added to the exemption list of goods and services on the VAT under the Finance...

Implementation Of 7.5% VAT To Commence February 1 — Minister   The Federal Government will from February 1 begin the implementation of 7.5 per cent Value Added Tax espoused by the finance law. The law, according to the government, will take effect after all the necessary administrative...

VAT Increase May Raise Vehicle Prices, Airfares   There are indications that the increase in the rate of the Value Added Tax as spelt out in the Finance Law will lead to a hike in airfares as well as prices of new and used vehicles. A new...

FG Implements Finance Act, Charges 7.5% VAT On Transactions   The Federal Government has begun the implementation of some aspects of the Finance Act with the imposition of 7.5 per cent Value Added Tax on government transactions. The Accountant-General of the Federation, Alhaji Ahmed Idris, confirmed the...

N275bn Generated From VAT In Q3 Of 2019 – NBS   The National Bureau of Statistics (NBS) said the sum of N275.12 billion was generated as Value Added Tax (VAT) in the third quarter of 2019. The NBS made this known in its Sector Distribution of VAT...

Outrage As Senate Okays 50% VAT Increment   The bill specifically seeks to hike the Value-Added Tax from five percent to 7.5 percent. The Federal Executive Council had in September this year approved an increase in VAT and sent a bill to the National Assembly for consideration....