The Federal Inland Revenue Service (FIRS) and other African countries’ tax agencies are strategising to ensure owners of infrastructure investments in the continent are properly taxed, especially in the aspect of Value Added Tax (VAT). Over a trillion dollars is slated for investment towards infrastructure development over the next 10 years in the continent. Speaking […]
The Federal Government generated N311.94bn between April and June; statistics provided by the National Bureau of Statistics have shown. In the first quarter of the year, January to March, the country generated N289.04bn through VAT. NBS revealed that N269.79bn was generated in Q2 2018 representing 7.92 per cent increase Quarter-on-Quarter and 16.95 per cent increase
The Federal Inland Revenue Service (FIRS) says it will begin to impose Value Added Tax (VAT) on online transactions, both domestic and international, from January 2020. The chairman of FIRS, Tunde Fowler, disclosed this at the African Tax Administration Forum (ATAF) Technical Workshop on VAT on Monday in Abuja. Mr Fowler said many countries had
FIRS sets date for start of online transaction VAT Read More »
The people of Jericho held Zacchaeus, the corrupt chief tax collector, in low esteem. The biblical story had it that when Jesus was passing through Jericho, the very short Zacchaeus had to climb a tree to catch a glimpse of him. People grumbled and looked at him with scorn. If they had their way, they
Multiple tax collectors, defaulters and auditors Read More »
With the resumption of Value Added Tax (VAT) collection from stock market transactions, investors will return at least N60.11 billion into government coffers in one year. The move, however, has drawn criticism from some stakeholders who said it would amount to double taxation. The Federal Government had in 2014 granted a tax holiday on all
Outrage as government makes N60b from new equity tax regime Read More »
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