A total of 42 tax-related disputes worth N288.1bn have been resolved by the Tax Appeal Tribunal within a period of eight months. The Coordinating Secretary of TAT, Mr Mohammed Abubakar, gave the figure in Abuja at the opening session of a two-day retreat on effective and efficient tax dispute resolution in Nigeria. Apart from the …
More than one year after the pronouncement for Value Added Tax to be removed from air transport, the Federal Government has failed to implement the order. Findings by our correspondent showed that domestic airlines still pay VAT, charged as five per cent on every flight ticket sold and remitted to the Federal Government. The Media …
The Federal Government has directed the Central Bank of Nigeria, Nigeria Interbank Settlement System, the National Identity Management Commission to cooperate with the Joint Tax Board in the release of relevant individual records. Vice President Yemi Osinbajo stated this while inaugurating the new National Tax Identification Number Registration System on Monday in Abuja. The News …
New Tax ID: FG Directs CBN, Others to Synergise With Joint Tax Board Read More »
A former Minister of Finance, Mrs. Zainab Ahmed, yesterday said the federal government was planning to increase the rate of value-added tax (VAT) to 7.5 per cent from the current five per cent by 2020. This is as the government seeks to shore up falling revenue, according to Bloomberg. Speaking at the Bloomberg Emerging & …
The Tax Appeal Tribunal, South East Zone, has said that gratuities are tax exempted under the Personal Income Tax Act. The tribunal made the declaration while delivering judgement in the appeal Nigerian Breweries Plc brought against Abia State Board of Internal Revenue, challenging the decision of the Board to tax gratuities paid to its employees. …
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