Tag: Value Added Tax

On Monday, President Muhammadu Buhari signed the Finance Act which reviewed the VAT rate from 5 to 7.5 per cent.

Mr Ayine said the uncollected taxes by the FIRS in Lagos may deny the federal government its legitimate revenue.

Mr Fashola says Nigeria is spending very little on infrastructure compared to fuel subsidy.

The budget is made up of N78.969 billion recurrent expenditure N97.153 billion capital expenditure.

The IMF wants the CBN to revisit its directive to banks on lending.

NEITI said the remittances came from three major sources: mineral and non-mineral revenues and VAT.

The date is subject to federal government's approval.

The amount reported for the ECA contradicts what was given by the minister earlier.

The figure is about N9 billion less than what was generated in the fourth quarter of 2018.

The Vice President charges the governors on how to effectively run their states.

The president says decision was in line with global best practices.

The governor rejects cattle colonies.

The tax amount increased by about N4 billion.

Non-oil revenue represents 46.15 per cent of the 2017 VAT budget of N1.728 trillion.

Mr. Fayose said the move would worsen the hardship already faced by Nigerians.

Federal, states, local governments share N756 billion for June.