The National Assembly has passed a new law, the National Housing Fund (Establishment) Act 2018. The key provisions of the Bill include the following: Mandatory 2.5 percent contribution of monthly income by employees earning minimum wage and above in public and private sectors to be deducted and remitted monthly by all employers 2.5 percent […]
President Muhammadu Buhari has said that the Federal Government will continue to sensitize and encourage Nigerians to cultivate the culture of paying taxes by ensuring fair implementation of policies and effective utilisation of resources. Mr Femi Adesina, the Special Adviser to the President on Media and Publicity, said Buhari stated this when he received the
Taxation: We need to enhance and expand govt’s revenue base —Buhari Read More »
The Water Supply and Sanitation Collaborative Council on Tuesday called on the Federal Government to reduce tax paid on the importation of sanitary pads to promote menstrual health in the country. Dr Virginia Kamowa, the Technical Expert on Menstrual Hygiene Management, WSSCC made this call at the ongoing Training of Trainers Workshop on Menstrual Hygiene
Sanitation council calls for tax reduction on sanitary pads Read More »
PWC Nigeria has stressed the need for tax administrators to simplify tax payment process in Nigeria, to increase compliance level. The Head of Tax, PwC Nigeria, Taiwo Oyedele, while speaking at the firm’s Tax Academy in Lagos, on Wednesday, said Nigeria’s tax revenue to GDP ratio ranked among one of the lowest in the world.
PWC canvasses simpler tax process for enhanced compliance Read More »
President of Trade Union Congress of Nigeria, Mr. Bobboi Kaigama, on Monday called for quick harmonisation of the N30,000 national minimum wage bill to enable President Muhammadu Buhari assent to it. Kaigama spoke to the News Agency of Nigeria in Lagos on the implementation of the new minimum wage. NAN reports that the leadership of
VAT: Harmonise minimum wage for quick assent, TUC tells NASS Read More »
Taxation globally is seen as a way of mobilising and supporting a nation’s financial resources. In this vein many nations have been taking the initiative to ensure that the tax administration is efficiently operated. The Nigerian tax system is beset by myriad of challenges, such as non-availability of tax statistics, inability to prioritize tax effort,
How new reforms are impacting on tax revenue generation Read More »
Minister of Budget and National Planning, Senator Udoma Udo Udoma and Executive Chairman of Federal Inland Revenue Service (FIRS) Mr. Babatunde Fowler of government’s intention to raise the rate of value added tax (VAT) before the end of 2019 is presently causing ripples among various categories of Nigerians. But experts have warned that such a
Experts caution FG: VAT increment will further worsen Nigerians’ situations Read More »
The Corporate Affairs Commission (CAC) has said that all is set for its 2019 quarterly Customers’/Stakeholders Forum. Godfrey Ike, Head, Public Affairs of CAC, who disclosed this through a statement, said the event is slated for Tuesday, March 26, 2019 at the Merit House, Maitama, Abuja, by 11.am. “The CAC’s Customers/Stakeholderss Forum is interactive in
CAC Set To Host Stakeholders, Customers In Abuja Read More »
The Minister for Budget and National Planning, Udoma Udo Udoma and the Executive Chairman of the FIRS, Babatunde Fowler hinted during an interactive session with the National Assembly on Tuesday 19 March 2019 that VAT rate is likely to go up to enable government fund the new minimum wage of N30,000 per month approved by
Implications of FGN’s Increase of VAT Rate to Pay for the New Minimum Wage Read More »
Mr Tunde Fowler, the Executive Chairman, Federal Inland Revenue Service, FIRS on Tuesday called for an increase in the number of Nigerians and companies paying VAT and not a 50 per cent increase in VAT rate. The FIRS Executive Chairman called for a reduction in Companies Income Tax (CIT) rate for small businesses so as
Fowler Calls For Increase In VAT Collection in Nigeria Read More »
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