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...

The Federal Inland Revenue Service (FIRS) is targeting N1.8 trillion Value Added Tax (VAT) collection for the 2017 fiscal year. Its Executive Chairman, Tunde Fowler, made the projection at his 2017 budget presentation to the Senate Committee on Finance during budget defence. The FIRS chief told...

The Government's revenue through Value Added Tax (VAT) had decreased from N207.35 billion in the fourth quarter of 2016 to N204.77 billion in the first quarter of 2017, the National Bureau of Statistics (NBS) has reported. The Bureau, in the report released in Abuja, stated...

Amidst declining revenue from oil, low tax to Gross Domestic Product ratio and a rapidly changing commercial environment, IFEANYI ONUBA examines what impact the National Tax Policy, recently approved by the Federal Executive Council, will have on the country’s tax system Despite the potential of...