The Vice Presidential candidate of the Peoples Democratic Party, PDP, in the February 23 presidential election, Mr. Peter Obi, has described as gratifying, the recent warning of All Progressives Congress, APC, leader, Bola Ahmad Tinubu, against the removal of Value Added Tax otherwise called VAT. Obi said that Tinubu’s warning which makes economic sense given

The Manufacturers Association of Nigeria (MAN) has asked the Federal Government to tread with caution in the drive for improved revenue. The Director-General of MAN, Mr Segun Ajayi-Kadir, said this in a statement on Wednesday while reacting to the plan by the government to increase the Value Added Tax (VAT). Officials of the Federal Ministry

The National Leader of the All Progressives Congress, Bola Tinubu, on Thursday urged the Federal Government not to increase the Value Added Tax. He said an increase in VAT will reduce the spending capacity of the people and might increase hardship. He urged the Federal Government to rather consider increasing the tax net. He spoke

Having dug itself into a fiscal hole, the Federal Government is preparing to make Nigeria’s public finances even messier. To meet its obligations in the impending new wage bill negotiated with labour unions, Budget and National Planning Minister, Udoma Udo Udoma, said changes were being mulled in the Value Added Tax rate, among others, “to

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

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

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

The Manufacturers Association of Nigeria (MAN) on Thursday said the proposed VAT rate incremement was unfriendly to the manufacturing sector. The Director-General of the association, Mr Segun Ajayi-Kadir, made the remarks in Lagos, in spite of the rebuttal from the Federal Inland Revenue Service (FIRS) on the issue. Ajayi-Kadir also said the proposed VAT increment