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Tag: Tax Reform Committee

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Governors, tax reform committee agree on revised 50% VAT equality

Nigerian governors have approved a revised Value Added Tax formula, which allocates 50% based on equality, 30% on derivation, and 20% on population, marking a significant breakthrough in negotiations. After weeks of controversy, governors from the 36 states and the Presidential Tax Reform Committee reached an agreement on Thursday regarding the modalities for sharing the […]

FG urges govs to justify use of subsidy removal savings
Economy

Tinubu’s tax committee chair demands diesel VAT suspension

The chairman of the presidential committee on tax policy and fiscal reforms, Taiwo Oyedele, has stated that the value-added tax on automotive petrol oil, popularly known as diesel, should be suspended. According to Channels Television, Oyedele stated that President Bola Tinubu’s directive to suspend the VAT will mitigate the negative economic effects of the elimination of gasoline subsidies. “What […]

featured Policy and Regulations

Tinubu’s tax committee to stop Customs, MDAs from revenue collection

The Presidential Committee on Tax Policy and Fiscal Reforms is mulling efforts to stop the Nigeria Customs Service and 62 other Ministries, Departments, and Agencies of the Federal Government from collecting direct revenues.   The News Agency of Nigeria reported that the presidential tax committee said the Federal Inland Revenue Service will now collect revenue […]

News

Tinubu meets student-member of presidential tax force Committee

President Bola Tinubu, on Tuesday, met with a 400 level Economics student of the University of Ibadan, Orire Agbaje, who is the President of the Nigerian Universities Tax Club and a member of the just inaugurated Presidential Committee on Fiscal Policy and Tax Reforms.   PUNCH Metro reported that the inauguration ceremony was held at […]