Why AON plans to stop paying VAT from June 14, rejects planned national carrier
More facts have emerged on why the leadership of the Airline Operators of Nigeria (AON) has fixed June 14, 2018 as the day it will cease from making remittances for Value Added Tax (VAT). AON is the umbrella body of…
10 months after saying Lagos contributes half of Nigeria’s VAT, nothing to show—BHIU
It would be recalled that the Minister of Finance, Mrs. Kemi Adeosun, had on first August, 2017, revealed that more than half of Nigeria’s value added tax (VAT), comes from Lagos State alone. However, checks by Business Hilights Intelligence Unit…
VAT on locally produced cooking gas discouraging investments, costs—NALPGAM
As part of renewed efforts at growing investments in locally produced Liquefied Petroleum Gas (LPG), otherwise known as cooking gas, the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has urged the Federal Government to remove the Value Added Tax…
Hostile tax approach, laws frustrating businesses at all levels—NECA
At a time the federal and states governments seem to be expanding their tax nets with new laws and policies, the negative after effects are beginning to elicit reactions from stakeholders. Firing the first shot on Tuesday, was the Nigeria…
Fresh reason emerges for special financial status for Lagos, but…
…As it rakes in 55% VAT for FG Apart from hosting 992 out of 994 that paid well over N10mn company tax throughout last year, Lagos has again scored first by generating 55 per cent in Value Added Tax (VAT)…
FIRS causing service providers to pay double VAT by hoarding receipts
Whereas the federal government through the Federal Inland Revenue Service (FIRS) is working to raise tax compliance in the country, indication has emerged showing high incidence of double payment of Value Added Tax (VAT) by companies. A number of tax…
FIRS plans tax remittance soft landing for airlines to remain afloat
As part of new moves to save the ailing aviation sector from suffocations caused by tax related challenges, the Federal Inland Revenue Service (FIRS) has proposed a flexible tax payment regime that will meet their Value Added Tax (VAT) remittance…
Dropping compliance collapses Value Added Tax revenue to N204.77bn in Q1
Latest report from the National Bureau of Statistics (NBS) released on Tuesday has shown a trending drop in the total revenue generated by the country from Value Added Tax (VAT). The crash showed that VAT dropped from N207.35bn in the…
NCC partners FIRS, sets up Committee to deepen transparency, returns from AOL
As part of new drive to grow synergy capable of driving high level of transparency attainable via technology in tax management for Federal Inland Revenue Services (FIRS) and the returns from Annual Operating Levy (AOL) for the Nigerian Communications Commission…
