Archives Tag: Babatunde Fowler
The Controversy Around the Recent VAT Rate Hike and Citizen Duty
April 19, 2022
Long after the Federal Government mulled the idea of increasing the Value Added Tax (VAT) rate, the Minister of Finance, Hajia Zainab Ahmed, announced on September 11 that the Federal Inland Revenue Service (FIRS) will be increasing VAT from 5% to 7.5% by the year 2020. At a chat with the National Assembly in March, … Continue reading The Controversy Around the Recent VAT Rate Hike and Citizen Duty
By adedoyin
Nigerians Could Be Paying a 5% Tax on Online Purchases Soon
April 19, 2022
Online shoppers in Nigeria could soon be paying more for the smartphones and handbags they purchase from ecommerce stores. The Federal Government says it is planning to slap a 5% Value Added Tax (VAT) on these transactions, as well as any others paid for by bank cards. This is part of a wider drive by … Continue reading Nigerians Could Be Paying a 5% Tax on Online Purchases Soon
