Nigeria: Top 10 Performing Sectors By VAT Contribution In Q1 2024
Value Added Tax (VAT) collection in Nigeria has continued to record significant improvement over the years.
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Top 5 Nigeria’s Sectors that Paid Highest VAT In 2023
Value Added Tax (VAT) collection in Nigeria has experienced significant improvement over the years. Currently one of Nigeria’s main sources of revenue, aside from oil, VAT which is managed by the Federal Inland Revenue
Just In: Nigeria Govt Grants VAT Waiver On Diesel For 6 Months
Nigerian Government has announced the removal of value-added tax (VAT) on diesel for the next six months. The Chief of Staff to President Tinubu, Rt. Hon. Femi Gbajabiamila, who made the disclosure
Nigeria’s H1 2023 VAT Soars, Manufacturing Boosts Recovery
Nigeria has not only managed to maintain its Value-Added Tax (VAT) revenue but has also seen significant growth in the first half of 2023. According to the latest data released by the
Q2: Nigeria Generates N600bn From VAT
The National Bureau of Statistics (NBS), has reported that Nigeria generated N600.15 billion as value-added tax (VAT) in the second quarter of 2022. The NBS said this in its latest sectoral
Cost of Goods Set To Rise Again, As Governors Want Buhari To Increase VAT to 20 percent
Nigerian governors have urged the Federal Government to increase the Value Added Tax (VAT) to 15 percent, and remove petrol subsidy in order to raise the government’s revenue, and reduce expenditure. The
Three Revenue Sources That Helped Nigerian Gov’t Make ₦680.78 billion From Nigerians In One Months
The Federal, States and Local Governments received ₦680.783 billion from the Federation Account Allocation Committee (FAAC) in May 2022. This includes funds generated from Value-Added Tax (VAT) and Electronic Money Transfer Levy
VAT: South-South Governors Resolve To Join Case In Supreme Court
GOVERNORS of states in South-south geo-political zone in Nigeria have resolved to join in the case over collection of Value Added Tax (VAT) which is currently before the Supreme Court.
FG To Resolve VAT Dispute At Supreme Court
Minister of Justice and Attorney-General of the Federation (AGF), Abubakar Malami has said to find a lasting solution to the dispute between the federal government and the states on the Value Added
VAT CONTROVERSY: Appeal Court Reserves Ruling On Lagos Application To Join In Suit
COURT of Appeal, Abuja Division has reserved ruling on Lagos State application to be joined as a co-respondent in the appeal filed by the Federal Inland Revenue Service, FIRS against River state
VAT CONTROVERSY: Lagos Chamber Canvasses New Sharing Formula In States
As the controversy on collection of Value Added Tax (VAT) continues, the Lagos Chamber of Commerce and Industry (LCCI) is canvassing a review of revenue sharing between states and their local council
Benue May Follow Lagos, Rivers On VAT – Ortom
GOVERNOR Samuel Orton of Benue has said the state may follow the path of Rivers and Lagos states concerning taking over collection of Value Added Tax (VAT) in the sate, currently being done
Appeal Court Orders FIRS, States To Maintain Status Quo Over VAT Dispute
AN Appeal filed by the Federal Inland Revenue Service (FIRS) over Value Added Tax (VAT) Dispute has been put on hold pending the hearing and determination of the instant suit.
FIRS Kicks Against VAT Collection By States
FEDERAL Inland Revenue Service (FIRS), has objected to the idea of states collecting Value Added Tax (VAT) in Nigeria.
FG May Increase VAT To 15% Before 2025- EIU
There is indication that the Nigerian Government might effect a 100% increase in the Value Added Tax (VAT) from the current 7.5% to 15% before 2025 in order to raise revenue. The
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