FAAC: N725.5bn March Revenue Shared By FG, States, LGAs The Federation Account Allocation Committee (FAAC) report reveals that N725.571 billion for March, 2022 revenue has been shared by federal, states and local governments. This revenue disbursement comprised distributable statutory revenue of N521.169bn and distributable Value Added...

Nigerians To Pay VAT For Digital Services, Says Finance minister   Nigerians may have to pay more for digital services as the Federal Government has introduced a policy requiring foreign companies that provide digital services in the country to collect and remit Value Added Tax to...

2022 Budget: Kaduna State Govt Targets N24.9bn VAT, N67bn IGR     Governor Nasir El-Rufai of Kaduna State, says the state expects an internally generated revenue of N67.26 billion and N24.9 billion Value Added Tax (VAT) which will be used to partly finance the state’s 2022 budget...

Report Says, Only Lagos, Rivers, Anambra Can Survive On IGR, VAT           Only three states in Nigeria can survive without support from the Federal Government. This was disclosed in BudgIT’s report ‘State of States, 2021 edition: Fiscal Options for Building Back Better’ released on Tuesday. According to BudgIT,...

Northern Nigeria and VAT: The Imperative Of Industrialization, by Abdulhaleem Ringim       Northern Nigeria has lately been dominating national news headlines following a Federal High Court judgement that shifted Value-Added Tax (VAT) collecting authority to states as opposed to the prevailing status quo that has the...

VAT Judgement: FIRS May Lose N92bn Revenue To States             If the judgement of the Federal High Court asking states government to collect Value Added Tax in their domain is upheld by the Appeal Court, the Federal Inland Revenue Service will lose about N92bn which it...