Nigeria's VAT System Can do With Improvement – EU The European Union (EU) has said Nigeria's Value Added Tax (VAT) system can work better for companies with little improvements as the current system is riddled with inefficiencies. This assertion came from Massimo De Luca, Head of...

Nigeria's VAT System Can do With Improvement – EU The European Union (EU) has said Nigeria's Value Added Tax (VAT) system can work better for companies with little improvements as the current system is riddled with inefficiencies. This assertion came from Massimo De Luca, Head of...

FIRS Suspends Implementation of VAT Guidelines   The Federal Inland Revenue Service (FIRS) has announced the postponement of the implementation guidelines for the value-added tax simplified compliance regime on the supply of low-value goods through digital means by non-resident suppliers. In a statement, it said the postponement...

FG to Implement Telecoms Tax to Boost Revenue   The Federal Government is set to implement excise duty on telecommunication services to boost its revenue base. It disclosed this in its newly released 2024-2026 Medium-Term Expenditure Framework and Fiscal Strategy Paper. It would be recalled that President Bola...

FAAC Shares N903.480bn to FG, States, LGAs for September   The Federation Account Allocation Committee (FAAC) has shared a total sum of N903.480 billion September 2023 Federation Account Revenue to the Federal Government, States and Local Government Councils. A communique issued by the FAAC at its October,...

Nigerians Groan Over Effects Of 7.5% VAT On Petrol Prices   Nigerians have begun to lament the effects of the introduction of a 7.5 per cent Value-Added Tax (VAT) on the price of premium motor spirit, otherwise known as petrol. This comes barely a month after President...