April 4, 2019

VAT: Economy Will Be More Vulnerable, Manufacturers Warn Nigerian Govt

The Manufacturers Association of Nigeria (MAN) has asked the Federal Government to tread with caution in the drive for improved revenue. The Director-General of MAN, Mr Segun Ajayi-Kadir, said this in a statement on Wednesday while reacting to the plan by the government to increase the Value Added Tax (VAT). Officials of the Federal Ministry …

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FIRS Warns Defaulting Taxpayers About Potential Restriction On Their Bank Accounts

Federal Inland Revenue Service (FIRS) has issued a warning to defaulting taxpayers on the impending lien to be imposed on their bank accounts for non-compliance. In the publication issued, FIRS admonished business entities with annual banking turnover of ₦100million and above and those who have been collecting Value Added Tax (VAT) and deducting withholding tax …

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