A group of Civil Society Organizations, CSOs have warned Federal government not to go ahead with the proposed increase in the Value Added Tax, VAT, saying that such action would exacerbate poverty and increase inequality in the land.
Continue reading VAT increase will exacerbate poverty, increase inequality, CSOs warn FG at Vanguard News. …
VAT
VAT Increase Can Further Slow Down The Economy, Tinubu Tells FG
The national leader of the All Progressives Congress (APC), Bola Tinubu, has advised the Nigerian Government against the planned to increase the Value Added Tax (VAT). Addressing a gathering at the Bola Tinubu Colloquium on Thursday in Abuja, he warned that such decision was capable of worsening the nation’s economy. “Consumers’ spending is slipping, … Continue reading VAT Increase Can Further Slow Down The Economy, Tinubu Tells FG …
VAT Increase: Economy Will Be More Vulnerable, Manufacturers Warn Nigerian Govt
The Manufacturers Association of Nigeria (MAN) has asked the Federal Government to tread with caution in the drive for improved revenue. The Director-General of MAN, Mr Segun Ajayi-Kadir, said this in a statement on Wednesday while reacting to the plan by the government to increase the Value Added Tax (VAT). Officials of the Federal … Continue reading VAT Increase: Economy Will Be More Vulnerable, Manufacturers Warn Nigerian Govt …
FG, States, LGs share N619.857bn for February
A total of N619.857 billion has been distributed as federal allocation for the month of February 2019 among the Federal, States and Local Government Councils. A communiqué by the Technical Sub -Committee of the Federation Accounts Allocation Committee (FAAC) at the end of its February meeting, indicated the gross statutory revenue received was N478.434 billion. […] …
VAT designed to support the poor – Fowler
By Emma Ujah, Abuja Bureau Chief
The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Tunde Fowler, has said that the Value Added Tax (VAT) was designed to support poor people, and not to create hardship for them.
He was reacting to concerns that the proposed increase in VAT would cause more hardship for the poor, according to a statement from the FIRS, yesterday.
He was quoted as saying, “When you don’t consume certain categories of goods and services, you are not liable to pay VAT charges on those items.
Continue reading VAT designed to support the poor – Fowler at Vanguard News Nigeria. …
VAT designed to support, not burden poor Nigerians, says Fowler
Chairman, Federal Inland Revenue Service (FIRS), Babatunde Fowler, yesterday said Value Added Tax (VAT) is designed to support poor Nigerians and not create hardship for them. He explained that it is charged on consumption and capacity to consume, noting that revenue generated from VAT is channeled towards assisting the poor by providing basic amenities. Fowler […]
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VAT designed to support the poor, says Fowler
The Federal Inland Revenue Service (FIRS) has stated the Value Added Tax (VAT) is a consumption tax primarily designed to support poor people, and not to create hardship for them. Executive Chairman of the FIRS Babatunde Fowler allayed fears that the increase in VAT may cause hardship for the poor, stating that VAT is charged […] …
LCCI: VAT hike’ll compound business woes
The Lagos Chamber of Commerce and Industry (LCCI) Director-General, Mr. Muda Yusuf, has warned against the upward review of Value Added Tax (VAT) as a means of funding the national minimum wage. He said the development would create further problem for the business community and compound already operating environment challenges. Acording to him, the way […] …
