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Presidency explains Finance Act 2019

The presidency had made public the breakdown of Finance Bill, 2019, which was submitted to the National Assembly by President Muhammadu Buhari alongside the 2020 Appropriation Bill, and signed into law by the president on Jan. 13, 2020.
Zainab Ahmed

Federal, states, local councils share N716.298 billion for December 2019

The Federation Accounts Allocation Committee (FAAC) has shared a total of N716.298 billion to the three tiers of government for the month of December, 2019.
President Muhammadu Buhari on Monday signed into law the Finance Bill 2019 (now Finance Act), which among other objectives, seeks to increase government revenue while supporting struggling small businesses in Africa’s largest economy.

New finance law will have ‘significant’ impact on businesses in Nigeria

President Muhammadu Buhari on Monday signed into law the Finance Bill 2019 (now Finance Act), which among other objectives, seeks to increase government revenue while supporting struggling small businesses in Africa’s largest economy.
Zainab Ahmed, the minister of finance, budget and national planning, says state and local governments share some of the responsibility to fix roads in Nigeria.

Firms with less than N25 million turnover will no longer pay company tax

The Finance Bill 2019, when signed into law, will ensure that small businesses with turnover less than N25m will be exempted from Companies Income Tax.
Zainab Ahmed

FAAC: Federal government, states, local councils share N635.8 billion in November

Alhaji Isa Dutse, Permanent Secretary, Ministry of Finance, Budget and National Planning, said on Wednesday in Abuja that the Federal, States and Local Governments had shared the sum of N635.8 billion for the month of November.

FIRS gives seven days notice to tax defaulters

The Federal Inland Revenue Service (FIRS) has served a seven-day notice to tax defaulters across the country.
Nigeria’s Senate on Thursday passed the Finance Bill for the third time.

Senate approves 7.5% VAT increase

The Senate passed the 56 amendments on the 2019 Finance Bill but some senators kicked against the increase in VAT during the presentation and consideration of the report of the Senate Committee on Finance.
Nigeria’s Senate on Thursday passed the Finance Bill for the third time.

Senate passes VAT increase bill

President Muhammadu Buhari on October 8 presented the Finance Bill to a joint session of the National Assembly for consideration and passage into law.
Ahmed Idris, the Accountant-General of the Federation (AGF)

Federal government, states, local councils share N702.058 billion for October

The Federal government, States and Local government Councils on Wednesday shared a total of N702.058 billion to the three tiers of government for the month of October 2019.

FIRS ‘non-resident taxpayers office’ takes off January 2020

The tax offices established by the Federal Inland Revenue Service (FIRS) for the administration of taxes for non-resident taxpayers will become operational by January 2020.
Ahmed Idris, the Accountant-General of the Federation (AGF)

Federal government, states, local councils share N679.699 billion for May 2019

A total of N679.699 billion has been distributed as Federal Allocation for the month of May, 2019 between the Federal Government, State Governments and Local Government Councils.
Ahmed Idris, the Accountant-General of the Federation (AGF)

Federal, states, local governments share N619.857 billion for February

A total of N619.857 billion has been distributed as federal allocation for the month of February 2019 among the Federal, States and Local Government Councils.

FIRS: VAT designed to support poor Nigerians, not a burden

The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Tunde Fowler, has stated that Value Added Tax (VAT) is primarily designed to support poor Nigerians and not to create hardship for them, as it is charged on consumption and capacity to consume.

Experts: VAT increment will further worsen Nigerians’ situations

A notice by 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.
Governor David Nweze Umahi

Governor Umahi opposes federal government’s plan to increase VAT

Ebonyi State Governor, David Umahi, has opposed the proposed plan by federal government to lift Value Added Tax (VAT) from five percent to 35 percent, stressing that it would put the country in difficult situations.

FIRS refutes report of 50% VAT increase

The Federal Inland Revenue Service (FIRS) on Wednesday refuted report of planned increment of Value Added Tax (VAT) by 50 per cent to meet up payment of the newly proposed minimum wage.
Ahmed Idris, the Accountant-General of the Federation (AGF)

FAAC: Federal, states and local governments share N610.368 billion for January

The Federation Accounts Allocation Committee (FAAC) has shared a total of N610.368 billion to the three tiers of government.
Ahmed Idris, the Accountant-General of the Federation (AGF)

FAAC: Federal, states, local governments share N649.19 billion for December 2018

The Federal Government, states and local governments have shared N649.19 billion as revenue for the December 2018.

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Nigeria can’t continue to subsidise power – minister

It called on Distribution Companies in the country to improve on their financial and technical capacity to deliver or the government would intervene more directly to find solutions to darkness.
Glasgow Rangers manager Steven Gerrard says he does not regret criticizing Nigerian midfielder Joe Aribo and his teammates following the recent bad performances.

Kaka: Steven Gerrard was better than Paul Scholes, Frank Lampard

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