Bill To Hike VAT Passes 2nd Reading In Senate
An Executive bill forwarded to the National Assembly seeking to make changes in the Nigerian tax and fiscal law scaled second reading at the upper chamber on Wednesday.
Senators however protested the non-inclusion of details of the...
ABCON Cautions FG Against VAT Hike
The Association of Bureaux De Change Operators of Nigeria (ABCON) has cautioned against the proposed increase in the Value Added Tax (VAT) to 7.5 per cent, from five per cent.
According to the currency dealers, the proposal would lead to...
Nigeria Has Lowest Tax Rate Globally, Says Agba
The Minister of State for Budget and National Planning, Prince Clem Agba, has defended the recent increase in Value Added Tax (VAT) from 5 per cent to 7.5 per cent by the federal government, saying despite the...
2020 Budget: 85% VAT Going To States, LGAs – Fashola
The Minister of Works and Housing, Babatunde Fashola, has said that 85 per cent of the Value Added Tax to be raised in the 2020 budget will go back to the states and local governments...
President Buhari Exempts Firms With N25m Turnover From VAT
Firms making a turnover of N25 million and below will be exempted from payment of the Value Added Tax (VAT), President Muhammadu Buhari said on Tuesday.
He stated this while presenting his N10.33 trillion 2020 budget estimates...
VAT Collection Still At 0.2%, FG Says
Mrs. Zainab S. Ahmed has said the collection of the value added tax (VAT) is still at a paltry 0.2 percent, well below the African average of 0.33 percent.
The minister disclosed this yesterday at the ongoing economic summit...
