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Value Added Tax

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Saudi Arabia imposes more tax on e-cigarettes, soft drinks

Saudi Arabia has imposed a special tax on electronic cigarettes and sugary drinks, extending similar taxes introduced in 2017 as it seeks to reduce a budget deficit caused by low oil prices.

Babatunde Fowler: FIRS to impose VAT on online transactions

The Federal Inland Revenue Service ((FIRS) plans to extend Value Added Tax (VAT) to online transactions soon, according to the chairman of the agency, Babatunde Fowler.
Zainab Ahmed

States to get N649 billion Paris Club fund

State governments will soon smile to the banks as the federal government has concluded plans to commence the final phase of the Paris Club debt refunds.

Bismarck Rewane: Nigerians should expect petrol price increase

The Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, Mr Bismarck Rewane, has said fuel subsidies are a huge drain on government’s revenue.
President of the Nigeria Labour Congress (NLC), Mr Ayuba Wabba

NLC: Federal government must backdate minimum wage payment to April

The President of the Nigeria Labour Congress (NLC), Ayuba Wabba, has asked the Federal Government to backdate the implementation of the N30,000 new minimum wage backdated to April 18, 2019, when it was approved.
L-R: Lagos State Head of Service, Mr. Hakeem Muri-Okunola; Representative of the Governor and Commissioner for Physical Planning & Urban Development, Mr. Rotimi Ogunleye; Commissioner for Information and Strategy, Mr. Kehinde Bamigbetan; his counterpart for Establishment, Training & Pensions, Dr. Akintola Benson and Controller, Federal Ministry of Labour & Employment in Lagos, Mr. Nnamdi Simon Enuah during the 2019 Workers’ Day celebration at the Agege Stadium, Lagos, on Wednesday, May 1, 2019

May Day: Lagos has enjoyed four years of industrial harmony – Governor Ambode

Lagos State Governor, Akinwunmi Ambode, on Wednesday joined thousands of workers to commemorate the 2019 edition of the May Day celebration, commending labour unions for their understanding and cooperation in the last four years that ensured the State did not witness any industrial action.
Zainab Ahmed

Federal, states, local governments share N617.566 billion for March

A total of N617.566 billion has been distributed as Federal Allocation for the month of March, 2019 among the Federal Government, State Governments and Local Government Councils.
All Progressives Congress (APC) Nigeria

Kogi guber: No second term for Governor Bello – APC stakeholders

Stakeholders in the All Progressives Congress (APC) have petitioned President Muhammadu Buhari, asking that Governor Yahaya Bello should not be given a second term.

NLC: Current security system has failed

The President of the Nigeria Labour Congress (NLC), Ayuba Wabba, has decried the increased state of insecurity in the country.
President of the NLC, Comrade Ayuba Wabba

NLC urges state govts to settle arrears of pensioners

The Nigerian Labour Congress (NLC) has called on state governments owing pensioners arrears to pay them as soon as possible to reduce their hardship.
The National Union of Textile Garment and Tailoring Workers of Nigeria held a peaceful protest in Lagos on Tuesday to mark the 40th anniversary of the organisation.

NLC: Current security architecture has failed

Worried by the increasing state of insecurity in the country, the Nigeria Labour Congress (NLC) on Thursday called on President Muhammadu Buhari to rejig the current security architecture in the country with the conclusion that the current system has failed the country.

Federal government urged to review VAT law

A tax expert, Taiwo Oyedele, has urged the Federal Government to review its Value Added Tax (VAT) law and better policing of its borders to improve its VAT collections.

FIRS, NLRC begin process to collect VAT on lottery, gaming

The Federal Inland Revenue Service (FIRS) and the National Lottery Regulatory Commission (NLRC) have commenced process to automate the collection of Value Added Tax (VAT) on lottery and gaming businesses in Nigeria.
Electric vehicles outsold gas and diesel models in Norway for the first time ever last month, accounting for 58.4 per cent of all vehicle sales.

Electric cars outsold gas, diesel vehicles in Norway

Norway is a leader in the adoption of zero-emission vehicles and the government has set an ambitious goal to stop selling new gas and diesel passenger cars and vans by 2025. In March, 18,375 new...
Babatunde Fowler FIRS

FIRS targets N750 billion from millionaire tax debtors

The Federal Inland Revenue Service expects to pull in about N750 billion from about 55,000 millionaire tax debtors.

Expert cautions federal government on VAT increase

As operators in different sectors of the economy continue to advise the federal government against an upward review of the Value Added Tax (VAT), a Port Harcourt-based oil and gas business magnate, Mr Adamu Mutairu, has said a hike in the VAT will not only be counterproductive, but would further impoverish Nigerians, lead to an increase in the cost of goods and services and intensify inflationary pressure.

FIRS: Tax defaulters to lose property to government

Individuals and corporate bodies found guilty of tax evasion are to henceforth lose their properties to the Federal Government, the Chairman, Federal Inland Revenue Services (FIRS), Babatunde Fowler, has said.

TUC: Inflation to affect new minimum wage

Inflation has seriously affected the purchasing power of the N30, 000 National Minimum Wage recently approved by the Senate, the Trade Union Congress of Nigeria (TUC) has said.

Recent Stories

N2 billion fraud: Court revokes bail, orders arrest of ex-Governor Aliyu

Justice A. B. Aliyu of the Federal High Court in Minna, Niger State on Thursday revoked the bail granted to the former Niger State Governor Babangida Aliyu and the former state governorship candidate of the Peoples Democratic Party (PDP), Alhaji Umar Gado Nasko.
Nigerian National Petroleum Corporation (NNPC)

NNPC recruitment: Applicants to undergo computer-based test

The Nigerian National Petroleum Corporation (NNPC) has revealed that the third phase of its ongoing recruitment exercise will involve a computer-based test, which comes up on June 1.
Real Madrid’s Welsh forward Gareth Bale reacts after missing a goal oportunity during the Spanish league football match between Athletic Club Bilbao and Real Madrid CF at the San Mames stadium in Bilbao on September 15, 2018. / AFP PHOTO / LLUIS GENE

Gareth Bale backed by just nine per cent of Real Madrid fans

Gareth Bale's future at Real Madrid has been the subject of constant speculation – and it appears the majority of the Santiago Bernabeu faithful would be glad to see the Welshman move on.
Nigeria’s Vice president Yemi Osinbajo has debunked rumours stating he has resigned his position as the nation’s vice president.

VP Osinbajo ‘deeply grateful’ to NEC members, others

Vice President Yemi Osinbajo has expressed his appreciation to state governors and other members of the National Economic Council (NEC) for their support in the past four years.
National Emergency Management Agency NEMA

NEMA: 15,000 Nigerian women, children taking refuge in Niger Republic

Over 15,000 refugees from Sokoto and Zamfara States, mainly women and children, are currently taking refuge in some communities of Niger Republic, the National Emergency Management Agency (NEMA) has said.