Tax administration and the system of taxation in Nigeria was once again brought to the fore when President Muhammadu Buhari on Tuesday reiterated the federal government’s resolve to continue to sensitise and encourage Nigerians to cultivate the culture of paying taxes by ensuring fair policy implementation and effective utilisation of resources. The Special Adviser to […]
The Federal Inland Revenue Service (FIRS) yesterday explained that the Value Added Tax (VAT) is a consumption tax primarily designed to support poor people, and not to create hardship for them. It’s Executive Chairman, Babatunde Fowler allayed fears that the increase in VAT may cause hardship for the poor, stating that VAT is charged on
The National Leader of the All Progressives Congress, Bola Tinubu, on Thursday urged the Federal Government not to increase the Value Added Tax. He said an increase in VAT will reduce the spending capacity of the people and might increase hardship. He urged the Federal Government to rather consider increasing the tax net. He spoke
Having dug itself into a fiscal hole, the Federal Government is preparing to make Nigeria’s public finances even messier. To meet its obligations in the impending new wage bill negotiated with labour unions, Budget and National Planning Minister, Udoma Udo Udoma, said changes were being mulled in the Value Added Tax rate, among others, “to
Taiwo Oyedele, head of tax, PwC Nigeria, says Nigeria is one of the most difficult places to pay tax despite the government’s need for taxpayers’ money. Speaking at the recently held Tax Academy Clinic, the tax master advised the tax authorities to make technology the platform for paying taxes; not as an option. “Technology makes
PwC: Nigeria needs money, yet paying taxes is difficult Read More »
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