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Tag: Value Added Tax (VAT)

VAT Increases by N29.98bn in Q4 2020, Says NBS

The National Bureau of Statistics (NBS) says Value Added Tax (VAT) increased by N29.98 billion from N424.71 billion generated in third quarter to N454.69...

FG Generated N424.71bn VAT in Q3, Says NBS

The National Bureau of Statistics (NBS) on Monday said the sectoral distribution of Value Added Tax (VAT) data for the third quarter of 2020...

Presidency Lists Items Exempted From VAT by Finance Act

The presidency has listed certain items exempted from Value Added Tax (VAT) by the Finance Act 2019. The act recently became law after it was...

7.5% VAT Implementation To Commence February 1, 2020, Says Finance Minister

The Minister of Finance, Budget and National Planning Mrs. Zainab Ahmed has announced that the full implementation of the 7.5per cent Value Added Tax...

Increase of VAT to 7.5% Commences as Buhari Signs Finance Bill...

President Muhammadu Buhari on Monday in State House, Abuja signed the 2020 Finance Bill into law. This is sequel to its passage by the National...

BREAKING NEWS: FAAC Shares N702.058bn October Revenue To FG, States, LGs

The Federation Accounts Allocation Committee (FAAC) has shared a total of N702.058 billion to the three tiers of government for the month of October...

Obi Hails Tinubu’s Advice on VAT

Vice Presidential candidate of the Peoples Democratic Party (PDP) Peter Obi has hailed National Leader of the All Progressives Congress (APC), Asiwaju Bola Tinubu,...

FIRS Refutes Report of 50% VAT Increase

The Federal Inland Revenue Service (FIRS) on Wednesday refuted report of planned increment of Value Added Tax (VAT) by 50 per cent to meet...

Federation Account Recorded N797bn VAT Revenue in 10 Months – Adeosun

By Okunade Adekunle Revenue from Value Added Tax (VAT) grossed N797.51 billion into the Federation Account between January and October 2017, the Honourable Minister of...

Kogi Govt Gets N3.6 Billion Allocation For September

The Kogi State Government on Wednesday night confirmed the receipt of N3,621,816,304.48 billion as statutory allocation released to the state for the month of...
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