Barely 24 hours after the President of the Senate, Senator Ahmad Lawan, expressed support for continued collection of the Value Added Tax (VAT) nationwide by the Federal Inland Revenue Service’s (FIRS’) in spite of the legal tussles between the agency and state governments over collection of the consumption tax, the Federal Government on Thursday also […]
Lagos State House of Assembly on Thursday concluded its deliberations on Value Added Tax (VAT) Bill and the Anti-open Grazing Bill during plenary with a unanimous passage of the bills. Following the passage of the bills, the Speaker, Hon. Mudashiru Obasa, directed the Acting Clerk of the House, Olalekan Onafeko, to transmit clean copies to […]
The Federal Inland Revenue Service (FIRS) has urged taxpayers in the country not to be perturbed by the Federal High Court sitting in Port Harcourt ruling which dismissed its motion for stay of execution of the judgment that Rivers State can collect Value Added Tax (VAT) from its residents. The federal revenue agency stated that […]
The Centre for the Study of Economies of Africa (CSEA) has described the increasing Value Added Tax (VAT) collections by the Federal Government in recent quarters as a welcomed development in the drive to boost non-oil revenue, stressing, however, that there is the need to improve tax administration structure for improved VAT collection. The research […]
The Federal Inland Revenue Service (FIRS) on Thursday stated that non-oil tax receipts had consistently contributed 75% to 90% of total tax collections over the past few months. The FIRS Director, Communications and Liaison Department, Dr. Abdullahi Ahmad, quoted the Executive Chairman of the service, Mallam Muhammad Nami, as disclosing this during a courtesy call […]
The Senate on Thursday passed the Executive Finance Bill 2019, which seeks amendments of Nigeria’s tax laws, even as 11 other fiscal-oriented bills scale first reading in the upper chamber. The passage of the Finance Bill 2019 was sequel to the consideration of the report of the Senate Committee on Finance. While presenting the committee’s […]