Value Added Tax

10 Sectors With Highest VAT Contributions In Q2 2024

Value Added Tax (VAT) in Nigeria is a type of consumption tax imposed on the value added to goods and services at each stage of production and distribution. Introduced in 1993 to

Victor Ezeja

2 months ago

HURIWA Condemns Security Agencies Clampdown On Media, Protesters

HURIWA Demands Reversal Of VAT Hike, Warns Against Imposing Additional Burden On Nigerians

Human Rights Writers Association of Nigeria (HURIWA) has called on the Nigerian government to rescind its decision to increase the Value Added Tax (VAT) from 7.5% to 10%. It said the policy

Victor Ezeja

2 months ago

Finance & Economy·Latest News

Proposed VAT, Petrol Price Hike Will Deepen Cost-of-living Crisis – Atiku

Former vice president, Atiku Abubakar, has criticised the proposed increase of the value-added tax (VAT) by the Tinubu-led administration from 7.5 per cent to 10 per cent. Prime Business Africa reports that

Victor Ezeja

2 months ago

Finance & Economy

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

Victor Ezeja

8 months ago

Nigeria: Top 10 Performing Sectors By VAT Contribution In Q1 2024

Business·Finance & Economy

Nigeria’s VAT Collections Increase By 72.12% YoY Record N1.20trn In Q4 2023

Nigeria recorded a total of N1.20 trillion as Value Added Tax (VAT) contributions to the economy in the fourth quarter (Q4) of 2023.

Victor Ezeja

8 months ago

Buhari Pledges Support For Stability Of Chad

Business

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

Fakoyejo Olalekan

2 years ago

Business·Insights

Umar Yahaya: FG Takes Major Step In Accessing Unclaimed Dividends, Threatening Shareholders’ Investments

On July 23, 2021, the Federal High Court in Abeokuta, Ogun state, restrained the Federal Government from accessing shareholders’ unclaimed dividends, but recent event has shown the government is not backing off.

Fakoyejo Olalekan

2 years ago

Business

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

Fakoyejo Olalekan

2 years ago

Business·Latest News

FIRS To Visit Tax Defaulters, Issues Two Weeks Deadline To Remit Tax

The Executive Chairman of Federal Inland Revenue Service (FIRS), Muhammad Nami, has given taxpayers and tax agents two weeks to remit their tax and funds received on behalf of the tax agency,

Fakoyejo Olalekan

2 years ago

Finance & Economy·Top Stories

VAT: Court Judgment May Not End Controversy

…Experts Advocate Roundtable Discussion For Suitable Sharing Formula FOLLOWING controversy between states and federal government of Nigeria over collection of Value Added Tax (VAT), leading to litigation, professionals have said only a

Victor Ezeja

3 years ago

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10 Sectors With Highest VAT Contributions In Q2 2024

HURIWA Demands Reversal Of VAT Hike, Warns Against Imposing Additional Burden On Nigerians

Proposed VAT, Petrol Price Hike Will Deepen Cost-of-living Crisis – Atiku

Top 5 Nigeria’s Sectors that Paid Highest VAT In 2023

Nigeria’s VAT Collections Increase By 72.12% YoY Record N1.20trn In Q4 2023

Cost of Goods Set To Rise Again, As Governors Want Buhari To Increase VAT to 20 percent

Umar Yahaya: FG Takes Major Step In Accessing Unclaimed Dividends, Threatening Shareholders’ Investments

Three Revenue Sources That Helped Nigerian Gov’t Make ₦680.78 billion From Nigerians In One Months

FIRS To Visit Tax Defaulters, Issues Two Weeks Deadline To Remit Tax

VAT: Court Judgment May Not End Controversy

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