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MAN urges FG to guarantee steady crude supply

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Crude supply to local refineries hits 58.8m barrels

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Tag: Tax

FG urges govs to justify use of subsidy removal savings
Policy and Regulations

Why car proof of ownership renewal shouldn’t be implemented – Tax expert

The recently proposed annual renewal of evidence of ownership for cars should not be put into effect, according to the Fiscal Policy Partner and Africa Tax Leader at PwC, Mr. Taiwo Oyedele. Oyedele responded to the policy via a tweet, calling the renewal’s introduction retrograde, stupid, and badly thought out because it would establish a poor […]

Ban on styrofoam, satchet alcohol to worsen employment - NECA
Economy

NECA calls for suspension of new manufacturing tariffs

The federal government has been urged to halt the proposed tariff hike for the manufacturing sector, according to the Nigeria Employers Consultative Association. Nairametrics reported that according to them, the introduction of excise duty on single-use plastics and the Import Adjustment Tax levy on vehicles of 2000 will have disastrous effects on the manufacturing sector. […]

TETFund urges FG to increase education tax
Economy

TETFund urges FG to increase education tax

The Federal Government has been urged by the Tertiary Education Trust Fund to raise the education tax from its current level of 2.5% to 3%. According to Nairametrics, on announcing the disbursement of N320 billion to public universities, polytechnics, and colleges of education as authorized by President Muhammadu Buhari for 2023, TETFund Executive Secretary, Mr. Sonny […]

Uncategorized

CITN rewards students to promote tax culture 

The Chartered Institute of Taxation of Nigeria has recognized and rewarded students who excelled in a quiz competition organised to promote tax culture among youths and increase government revenue. The Punch reported that the CITN presented different prizes to secondary school students with outstanding performances during the grand finale of the Lagos State all-secondary schools […]

Kaduna govt to use WhatsApp to collect taxes
Business featured

Kaduna govt to use WhatsApp to collect taxes

The Kaduna State Internal Revenue Service has said that it will employ social media platform WhatsApp and the Unstructured Supplementary Service Data service to improve less efficient methods of tax payment. The News Agency of Nigeria reported that during a public-private discussion on a revenue-generation push on Wednesday, the executive chairman of the state revenue service […]

Lagos plans CNG-powered buses by end of 2024
Economy

LIRS, FIRS joint tax agreement’ll benefit Nigerians – Sanwo-Olu

Governor Babajide Sanwo-Olu of Lagos State has expressed optimism that the state’s bilateral agreement with the Federal Government of Nigeria will benefit Nigerians. Sanwo-Olu stated this on Monday during the signing ceremony for a memorandum of understanding between the Federal Inland Revenue Service and the Lagos State Inland Revenue Service, according to Arise TV. The agreement creates […]

Tax experts oppose ASUU’s proposed10% education tax
featured

Tax experts oppose ASUU’s proposed 10% education tax

The Academic Staff Union of Universities’ proposal to raise the tertiary education levy from three percent to ten percent has been criticized by tax experts. They argued that following this course would harm private businesses, which are already burdened with taxes. To pay for the facilities of Nigeria’s institutions, ASUU President Prof. Emmanuel Osedeke recently […]

Economy

Experts laud suspension of proposed excise duties hike

Tax, fiscal policy, and economics experts have hailed the Federal Government for suspending the proposed increases in excise duty rates on tobacco, alcoholic and non-alcoholic beverages. According to The Nation, the increases were to be part of the 2023 Fiscal Policy Measures and Tariff Amendments. Renowned expert in tax and fiscal policy and the Head […]

News

Anambra residents decry Soludo’s tax scheme

The governor of Anambra State, Prof. Chukwuma Soludo, has once more become the subject of intensive scrutiny following his tax schemes. There was commotion last Friday at Kings Planet International School as armed security personnel entered the building under the guise of demanding tax payment, Daily Post reported. Additionally, Awka food vendors have criticized the […]

SMEs lament multiple taxes, poor power supply
Business

SMEs lament multiple taxes, poor power supply

Stakeholders in the Small and Medium-Scale Enterprises segment of the economy have lamented that lack of adequate power supply and multiple taxes are major issues strangling the growth of SMEs in Nigeria. The stakeholders identified SMEs as key drivers of the economy in Nigeria while calling on the government to do more in areas of […]

How more taxes'll reduce debt load - FG
Economy

How more taxes’ll reduce debt load – FG

The Federal Government said the collection of more taxes and is diversion to the right fiscal sectors of the economy will help curtail excessive external borrowing and lessen the high debt burden in Nigeria. According to The Punch, the Minister of Finance, Budget and National Planning, Zainab Ahmed, said this at a tax expenditure workshop […]

Economy

High taxes weaken consumer spending, experts tell FG

Economists have warned that high tax burden on Nigerians will shrink consumer wallets and exacerbate an already high cost of living for Nigerians. The warning follows recent rate hikes in the services industry attributed to high tax imposition by governments at various levels. On March 22, Pay TV company, Multichoice, announced new rates for its […]

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