Value Added Tax

The Federal Executive Council (FEC), presided over by President Muhammadu Buhari has approved a two per cent increase in Value Added Tax (VAT) to move it from five to seven percent. Minister of  Finance, Budget and National Planning,…

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Babajide Okeowo The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler, has expressed confidence that the revenue agency will surpass N5.32 trillion revenue collection in 2019. While presenting a…

An Economist, Prof. Hassan Oaikhenan, has cautioned the Federal Government against increasing the Value Added Tax as a means of funding the proposed new minimum wage for workers in the country. Oaikhenan, a lecturer in the Department…

Babajide Okeowo It has been long in coming. There have been insinuations and whispers in the corridors of government for a long time that an increase in Value Added Tax, which is the tax imposed on consumption of products and services…

A total of N273.50bn was generated as Value Added Tax (VAT) in the third quarter of 2018 as against N266.73bn generated in second quarter of 2018 and N269.79bn in first quarter, representing 2.54 per cent increase Quarter-on-Quarter and…

The Kwara State Government will receive N3.9 billion from the Federation Accounts Allocation Committee (FAAC) for the month of November, 2018. The State Commissioner for Finance, Alhaji Demola Banu, said this in a statement, in Ilorin,…