FIRS Sets Deadline For VAT Remittance The Federal Inland Revenue Service has said all companies must remit value-added tax and withholding tax by the 21st day of every month. It disclosed this in a public notice on Wednesday signed by its Chairman, Mr Babatunde Fowler, noting...

FG’s VAT Reversal To Cost Investors N2.5bn   Investors could pay about N2.5bn yearly as additional costs on transactions, following the Federal Government’s resumption of Value Added tax (VAT) collection on stock market transactions. Investors would pay an average of N2.49 billion yearly or N207 million monthly,...

Investors Demand VAT Exemption In Stock Market Extended Some investors in the Nigerian capital market have called on the federal government to extend the exemption of Value Added Tax (VAT) charges on transactions on the Nigerian Stock Exchange (NSE) so as to attract more patronage...

Manufacturers Object FG’s Planned Increase In VAT And Taxation Manufacturers and providers of goods and services under the aegis of Nigeria Employers’ Consultative Association (NECA) wednesday expressed their opposition to the plans by the federal government to increase taxation, including the value added tax (VAT). NECA...

MAN Urges FG To Stop 50% VAT Increase   The Manufacturers Association of Nigeria (MAN) has called on the Federal Government to jettison the idea of increasing the Value Added Tax (VAT) by 50 per cent. MAN President, Mansur Ahmed, made this call on Wednesday, during the...

FG Defaults On VAT Waiver For Domestic Airlines More than one year after the pronouncement for Value Added Tax (VAT) to be removed from air transport, the Federal Government has failed to implement the order. Findings by our correspondent showed that domestic airlines still pay VAT,...