VAT
Nigeria’s Revenue at Risk: Experts Warn Against VAT Rate Freeze Amid Reform
The Nigerian Economic Summit Group (NESG) has issued a stark warning: the Federal Government’s revenue streams could face significant shortfalls if it fails...
Customs Implement Import Taxes Exemption on Pharma Inputs
In a strategic move aimed at fortifying Nigeria’s healthcare infrastructure and fostering self-reliance, the federal government has announced a comprehensive two-year exemption from...
Tax Reform Bills Advance in House of Representatives After Committee Approval
President Bola Tinubu’s proposed tax reform legislation has moved forward in Nigeria’s legislative process following the House of Representatives’ adoption of the Finance...
House Approves Tax Reforms, Rejects VAT Hike Amidst Public Concern
After rigorous clause-by-clause scrutiny, lawmakers opted to maintain the existing 7.5% Value Added Tax (VAT) rate, rejecting a proposed phased increase that had...
Record N1.7 Trillion Windfall: FAAC Pours Funds into Government Coffers
The Federation Account Allocation Committee (FAAC) has disbursed a staggering N1.703 trillion to the three tiers of government for February 2025, marking a...
Nigeria Tax Bill Proposes VAT Exemptions on Essential Goods
The 2024 Nigeria Tax Bill, currently making its way through the legislative process, aims to strike a delicate balance between providing relief for...
Nigerian Tax Reform: A Balancing Act Between Revenue and Relief
The Federal Government is embarking on a bold tax reform aimed at curbing inflation and bolstering public finances, a move that has ignited...
Lagos Leads as States Generate N7.42trn in VAT Revenue for 2024
States across Nigeria collectively generated N7.42 trillion in Value Added Tax (VAT) revenue in 2024, with Lagos topping the list at N2.75 trillion,...
Lagos Tops VAT Revenue in November 2024 as States Generate N422.32bn
Nigeria’s Value Added Tax (VAT) revenue for November 2024 reached a total of N422.32 billion, with Lagos State once again leading the pack...