Archives Tag: VAT
The Politics Of VAT And Stamp Duty
April 19, 2022
The ongoing drama between the Federal Government and some States on the VAT Court Order in Rivers State Federal High Court has generated both good and bad ripples within a very short timeframe. Read more about Politics There are so many inconsistencies that have been going on in the administration of VAT for years. … Continue reading The Politics Of VAT And Stamp Duty
By adedoyin
How VAT Court Order Favouring States May Enforce Restructuring
April 19, 2022
A lot has been said about the need for State governments to collect Value Added Tax (VAT) in their domains, but no concrete action was taken until Governor Nyesom Wike of Rivers State challenged the unfair practice in court. Read more about Finance After Wike’s audacious suit challenging the FIRS and the Attorney General … Continue reading How VAT Court Order Favouring States May Enforce Restructuring
By adedoyin
Analysis: The Unfair VAT Benefit by Sharia States
April 19, 2022
There has been a lot of restrained sentiment in the past about Sharia states in Northern Nigeria benefiting from the portions of Value Added Tax (VAT) which they did not contribute towards. It is public knowledge now that Sharia states which include Zamfara, Kano, Sokoto, Katsina, Bauchi, Borno, Jigawa, Kebbi, Yobe, Kaduna, Niger, Gombe, have … Continue reading Analysis: The Unfair VAT Benefit by Sharia States
By adedoyin
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
What the Increase in Nigeria’s VAT Could Mean for Businesses
April 19, 2022
On Wednesday 12 September, Nigeria’s Federal Executive Council agreed to have the value added tax (VAT) on goods raised from 5% to 7.5%.  It’s widely understood that the rate hike is intended to fund the recently approved minimum wage, which has been revised upward from ₦18,000 to ₦30,000. The approval comes months after economic analysts … Continue reading What the Increase in Nigeria’s VAT Could Mean for Businesses
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
