VAT Archives

Why 7.5% VAT on diesel may disrupt fuel supply – NARTO

The Federal Government was urged to end the 7.5% Value Added Tax on Automotive Gas Oil, also known as diesel, by the Nigerian Association of Road Transport Owners on Tuesday. According to The Punch, NARTO stated that in order to prevent delays in the distribution and supply of Premium Motor Spirit, more commonly known as […]

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13th September 2023
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News

No customs duty, VAT on CNG conversion kits imports- Presidency

The importation of compressed natural gas conversion kits into the country is exempt from both customs duties and value-added taxes. This was expressed by the president’s special adviser on media and publicity, Ajuri Ngelale, in an interview that was broadcast on Channels Television on Friday night. He claimed that this is being done to increase the country’s […]

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19th August 2023
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Business

Market vendors to receive VAT exemptions under FIRS-MATAN initiative

PwC’s Fiscal Policy Partner and Africa Tax Leader, Mr. Taiwo Oyedele, has revealed that market vendors participating in the VAT Direct Initiative will be excluded from paying VAT if their company has a turnover of less than N25 million. According to Nairametrics, he revealed this on Tuesday while speaking about the new Value Added Taxes effort between […]

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5th July 2023
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149 Views

Business

FG set to collect VAT from market women, others

Kazeem Owoseni The Federal Government has disclosed its plan to collect Value Added Taxes from the informal sectors through VAT Direct Initiative. Disclosing this in a statement issued on Monday, July 3, 2023, the FIRS announced its collaboration with the Market Traders Association of Nigeria, to collect and remit VAT from their members, especially those […]

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3rd July 2023
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Only four Nigeria states attract foreign investment in Q4 - Report

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Nigeria’s corporate income tax drops to N753.88 in Q4 2022

The National Bureau of Statistic has revealed that the total company income tax recorded by Nigeria dropped by -6.95% from N810.19 billion in Q3 2022 to N753.88 billion in Q4 2022. According to Nairametrics, this was disclosed by the NBS on Wednesday through it’s Company Income Tax, Q4 report. It also stated that the local […]

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8th March 2023
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204 Views

Airtel Africa names Gopal Vittal new chairman

SEC DG secures second term as IOSCO regional

FG launches national single window to cut port

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