Value Added Tax

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.

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.

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.

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.

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.

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.

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.

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

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

The Nigerian Labour Congress (NLC) has called on state governments owing pensioners arrears to pay them as soon as possible to reduce their hardship.

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.

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.

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.

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...

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

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.

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.

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.