VAT

The Federal Government has introduced tax (VAT) exemptions on key energy products and infrastructure as well as fiscal incentives for the upstream and downstream oil and gas sector. The development, the government said, was in “its…

In order to increase its revenue base, the Federal Government plans to impose an excise fee (VAT) on communications services. It made this disclosure in its recently published Fiscal Strategy Paper and Medium-Term Expenditure…

The VAT Direct Initiative, a plan to enable the government to collect Value Added Taxes from the informal sector and decrease various taxes in the informal economy, was announced by the Nigerian government through the Federal Inland…

Governors of the south-south geo-political zone are currently meeting in Port Harcourt, Rivers state’s capital city. Akwa Ibom, Bayelsa , Delta, Rivers, Cross River and Edo State governors are said to be attending the meeting and it is…

Northern Governors’ Forum and traditional rulers from the region are holding an emergency meeting in Kaduna State. Top on the agenda at the meeting are issues relating to Value Added Tax (VAT), insecurity and economic problems…

Court of Appeal sitting in Abuja has ordered all the contending parties to maintain the status quo on the collection of Value Added Tax (VAT) pending the determination of the appeal filed before Federal Inland Revenue Service (FIRS). The…

Rivers State Governor, Nyesom Wike, has on Wednesday insisted on moving ahead with his plan to stop the Federal Government from collecting Value Added Tax (VAT) from the oil-rich South-South state. VAT is a consumption tax paid when…

Nigerian businesses have kicked off the implementation of the 7.5% Value Added Tax (VAT) rate, following the introduction of the Finance Bill. Last month, President Muhammadu Buhari had signed the country's finance bill into law, with…

Aso Rock, Nigeria’s seat of executive power, failed to remit taxes, such as pay as you earn (PAYE), value added tax (VAT) and withholding tax (WHT), to the Federal Inland Revenue Service (FIRS) in 2016 — despite deducting at source.…