Nigeria records N1.20trn VAT in Q4 2023 – NBS
The National Bureau of Statistics (NBS), said the aggregate Value Added Tax (VAT) stood at N1.20 trillion in Q4 2023. This is according to […]
VAT
FG, states, LGCs share N1.149trn revenue for January — FAAC
By MBAFAN ADE, Abuja – The Federation Account Allocation Committee (FAAC), has shared the sum of N1.149 trillion revenue among the Federal Government, states and […]
FG, states, LGCs share N1.1trn for August – FAAC
By JOHN ONAH, Abuja – The Federation Account Allocation Committee (FAAC) has shared the sum of N1.1 trillion to the Federal Government, states […]
FIRS partners market traders for VAT remittance from informal sector
By JOY ADARA, Abuja- The Federal Inland Revenue Service (FIRS) has partnered with the Market Traders Association of Nigeria (MATAN) to collect and remit Value […]
FAAC shares N714.629bn allocation to FG, states, LGAs
By EZEKIEL OBI, Abuja – The Federation Account Allocation Committee (FAAC) shared N714.629 billion to the three tiers of government in Abuja on Wednesday as […]
Agony of Nigerians over soaring cooking gas price
Many Nigerians have in recent times embraced the use of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, encouraged by its speed in cooking […]
MTN, Airtel, others appointed by FIRS to withhold VAT charged to them
By JOY ADARA, Abuja – MTN, Airtel, as well as money deposit banks in Nigeria have been appointed by the Federal Inland Revenue Service (FIRS) […]
FIRS to commence recovery of unremitted tax deductions by states, LGs
By JOY ADARA, Abuja – The Federal Inland Revenue Service (FIRS) has stated that it will commence the process of enforcement and recovery of unremitted […]
Nigerians need to consume, export what they produce — Emefiele
The Central Bank of Nigeria (CBN) says Nigerians need to consume what they produce and export the surplus after adding value to it. CBN Governor, […]
FG, States, LGs share N695.033bn for Feb 2022
By BENJAMIN ORISEMEKE, Abuja – The Federation Accounts Allocation Committee (FAAC), has shared a total sum of N695.033 billion to the three tiers of government […]
Global OEMs, Overseas-based distributors evade VAT: Nigerian tech startups seek Ministry, FIRS intervention
Nigerian tech startups are complaining of increasingly being frustrated by global Original Equipment Manufacturers (OEMs) who connive with some overseas-based distributors to ship their products […]
VAT collection: Supreme Court to deliver judgment May 6
The Supreme Court on Monday fixed May 6 for judgment in the suit filed by the Rivers Government challenging the decision of the Court of […]
2022: Our target is to achieve 100% automation of tax administration processes – FIRS
We will give priority to taxation of digital economy … BY JOY ADARA, Abuja – The Federal Inland Revenue Service (FIRS) has stated that it […]
VAT revenue hits N196.175bn as FAAC shares N675.946bn to FG, states, LGS
The Federation Accounts Allocation Committee (FAAC) has shared a total of N675.946 billion to the Federal Government, states, and local government councils as the Federation […]
Nigeria Gas Debacle: The Rising Cost of Cooking Gas!
Introduction At the beginning of this month November 2021, President Buhari announced at that Nigeria has pledged to eliminate illegal gas flaring (which he said […]
Finance Bill 2022: TIN not required to operate bank account – Presidency
There are no provisions in the Finance Bill 2022 forcing Nigerians to have a Tax Identification Number(TIN) in order to operate a bank account, a […]