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We’ll not increase tax to improve IGR, Oyo State reassures entrepreneurs

Oyo State Government has reiterated its assurance to the people of the state that the administration will not increase tax on business enterprises to increase the Internally Generated Revenue (IGR) of the state. Executive Chairman, Oyo State Internal Revenue Service (OYSIRS), John Adeleke, who gave the reassurance in a chat with journalists in his office, […]

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VAT to Aid Infrastructure Development, Social Amenities – Agba

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Prince Clem Agba, the Minister of State for Budget and National Planning, has said the 50 percent increase in Value Added Tax (VAT) will aid infrastructure development across the country. The Federal Executive Council (FEC) had approved a 50 percent increase in VAT from 5 percent to 7.5 percent in September. The new rate expected

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Experts Kick as IMF Calls for Tax Increase

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Nigeria’s experts kicked against the International Monetary Fund (IMF) call for a tax increase as a means to fund the country’s high cost of servicing debt. This was after the Debt Management Office (DMO) reported that Nigeria’s total debt rose by 5.11 percent or N1.3 trillion in the first half of 2019 to N25.701 trillion.

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FG To Introduce More Taxes, Expand Present Tax Base

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The Federal Government is planning to introduce more taxes and expand the incumbent tax base. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, disclosed this while speaking at the International Monetary Fund (IMF) and World Bank’s annual meetings in Washington DC, United States of America (USA). According to Ahmed, this was the

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Soft-Drink Tax: Experts Predict Hyperinflation, Job Loss

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Following the plans by the Federal Government to impose Value Added Tax (VAT) on carbonated drinks, soft drinks and other important products, Financial experts have warned that it will not only have an effect on the company but will lead to loss of jobs in the country. Recall that the Minister of Finance, Budget and

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Corporate tax cuts won’t spur capex cycle immediately

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The mathematical theory of transitivity states that, if A is equal to B and B equal to C, then A is equal to C. Given the latest cuts in corporate taxes, one would hope that this theory was as simply applicable to India’s languishing capital expenditure cycle: that, by reducing corporate taxes, demand increases, capacity

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ASUU rejects introduction of new tax regime in Ekiti varsity

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The Academic Staff Union of Universities (ASUU) has rejected the decision of the management of Ekiti State University (EKSU) Ado-Ekiti to introduce a new tax regime to be paid by staff. Addressing newsmen on Friday in Ado-Ekiti, the ASUU-EKSU chairman, Dr Kayode Arogundade said members of the union had been subjected to poor treatment with

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Companies with less than N10m turnover should be exempted from VAT — CITN president

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The Federal Government recently announced plans to increase Value Added Tax from five per cent to 7.5 per cent. Do you feel this is appropriate? It is appropriate. There is no right time for it. The problem in this country is that we fail to face reality. The VAT Act was promulgated in 1993 and

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Be Strategic with New Taxes, ACFE Charges Govt

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The Association of Certified Fraud Examiners (ACFE), Lagos State chapter, has urged federal government to be strategic about imposing new and increasing existing tax rates. The association bared its mind on the tax environment during a training session it organised for ACFE members and non members in Lagos recently. Speaking during the training, President of

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We are paying taxes, say DISCOs

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Power distribution companies on Thursday said it was incorrect for an executive of PriceWaterhouseCoopers to claim that no Disco had paid any tax since the power sector was privatised since 2013. Speaking under the aegis of the Association of Nigerian Electricity Distributors, the umbrella body of Discos, the power firms stated that they had been

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Tax

We’ll not increase tax to improve IGR, Oyo State reassures entrepreneurs

VAT to Aid Infrastructure Development, Social Amenities – Agba

Experts Kick as IMF Calls for Tax Increase

FG To Introduce More Taxes, Expand Present Tax Base

Soft-Drink Tax: Experts Predict Hyperinflation, Job Loss

Corporate tax cuts won’t spur capex cycle immediately

ASUU rejects introduction of new tax regime in Ekiti varsity

Companies with less than N10m turnover should be exempted from VAT — CITN president

Be Strategic with New Taxes, ACFE Charges Govt

We are paying taxes, say DISCOs

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