More than 160 countries around the world use value-added tax, nevertheless most commonly found in the European Union are not without controversy. It was in 2018 implemented in United Arab Emirate, the first in Middle-east countries to introduce VAT. Most of these countries; if not all get value for any tax paid by citizens and […]
Online Transaction VAT Collection And Its Negative Effects On E-Commerce Read More »
The Federal Inland Revenue Service (FIRS) has said it will spend N160 million to sew uniforms for its 850 drivers. Babatunde Fowler, chairman of the agency, disclosed this on Monday while defending their budget at the House of Representatives, noting that the uniforms are part of the efforts to make the drivers fit properly into
FIRS to sew uniforms of drivers at N188,000 each Read More »
Minister of Finance, Mrs Zainab Ahmed: Nigeria’s tax to GDP ratio of 6.1 % believed to be rooted in corruption, says IMF The costs of corruption run deep. Your taxpayer dollars are lost in different ways, siphoned off from schools, roads, and hospitals to line the pockets of people up to no good, the International
The Federal Government says it will grant tax incentives to private companies willing to fund the construction of major road projects in the six geo-political zones of the country. The Minister of Finance, Mrs Zainab Ahmed said this on Tuesday at the Public Presentation of the Approved 2019 Budget in Abuja. Ahmed, who spoke on
FG offers tax incentives to investors willing to invest in road construction Read More »
CASH-STRAPPED councils should consider clobbering Brits with a local income tax to plug their multi-billion pound funding black hole, a respected think-tank today says. The Institute for Fiscal Studies said English town halls have had their funding slashed by a fifth in the past decade. The Institute for Fiscal Studies says local councils will face
Gov. Samuel Ortom of Benue has called on Benue residents to support his administration by always paying their taxes as and at when due. Ortom made the call on Wednesday in Makurdi during his second term inauguration. He said that funds generated from the payment of taxes would be channeled to the development of the
Pay your tax regularly, Ortom urges Benue residents Read More »
The Niger Delta Budget Monitoring Group and Oxfam International have urged the federal and state governments to intensify efforts in the collection of taxes from citizens. During a multi-stakeholder dialogue in Lagos, the Program me Officer, Public-Private Sector Transparency and Accountability Officer, Oxfam International, Henry Ushie, said that the government, both at the federal and
The Managing Director of Bet9ja, Ayo Ojuroye, has argued that lottery business can boost Nigeria’s revenue. In a statement made available to newsmen, Ojuroye stated that the Nigerian State is already benefiting from lottery companies through the taxes and other levies paid to the government. To exemplify, he explained that Bet9ja pays all its taxes
The National Bureau of Statistics (NBS) says Nigeria generated N289.04 billion from value-added Tax (VAT) in the first quarter of 2019, representing a decline N9billion from the N298.01 billion generated in Q4 2018. This is contained in a Sectoral Distribution of VAT report for the first quarter 2019 released by the bureau. This, it said,
As the world business organization, the International Chamber of Commerce (ICC) promotes international trade, responsible business conduct, and a global approach to regulation. In today’s interconnected global economy, value added tax (VAT) has become an increasingly important source of revenue for countries worldwide. With more and more countries implementing or reforming existing VAT regimes, ICC
ICC issues guidance on VAT implementation to ensure efficiency for business and tax … Read More »
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