Buhari Explains Removal Of VAT From Domestic Air Fares   President Muhammadu Buhari says the recent decision by the Federal Government to remove Value Added Tax (VAT) from domestic air transportation fares is to make air travel more affordable to citizens. The president said this when he...

States Failed To Remit N41bn VAT – FIRS   The Federal Inland Revenue Service has accused state governments of failing to remit Value Added Tax to the tune of N41bn to the Federal Government’s coffers. The Jigawa State Governor, Abubakar Badaru, disclosed this to State House correspondents...

Airline Operators Threaten To Stop VAT Payment June 14   There is an imminent face-off between the Federal Government and airline operators over payment of Value Added Tax (VAT). The operators under the umbrella of Airline Operators of Nigeria (AON) yesterday rose from their meeting where...

FIRS, States Deploy Web Solution For VAT Payment, Generate N9.76bn     Between July 2016 and April this year, the Federal Inland Revenue Service generated a total revenue of N9.76bn through the State Offices of the Accountant-General Platform. The Executive Chairman, FIRS, Mr. Tunde Fowler, gave the figure...

Revenue From VAT Rises By 19% To N968bn In 2017   Federally collected revenue from Value Added Tax (VAT) rose to N968 billion in 2017, up by N156.7 billion or 19 percent from N811 billion recorded in 2016. This was contained in the Central Bank of...

Airlines To Save N11.6b Yearly From Removal Of VAT, Others   The planned review and removal of the mandatory Value Added Tax (VAT) on all air travel tickets issued in the aviation sector will save local airlines at least N11.55 billion in revenue yearly. The tax, which...