VAT
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News
South-South Governors resolve to join VAT suit in Supreme Court
Governors of South-South states, on Monday, resolved to join the suit currently before the Supreme Court over the collection of Value Added Tax (VAT). The VAT case is between the Federal Inland Revenue Service (FIRS) and the Rivers Government. The governors made their intention known in a six-point communique read to newsmen by Gov. Ifeanyi Okowa of Delta at the end…
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Law
VAT: Appeal Court restrains Lagos, Rivers from collections
The Court of Appeal sitting in Abuja has halted the Rivers State government from collecting Value Added Taxes VAT until all legal disputes relating to the matter are resolved. The court ordered that the judgment of the High Court from which the state drew authorities to collect the tax be implemented. Justice Haruna Simon Tsanami who issued the order in…
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News
Nigerians To Officially Pay 7.5 Percent Value Added Tax
Nigerians will now start paying 7.5 per cent as Value Added Tax (VAT) after its increase was captured in the newly approved 2019 finance law. President Muhammadu Buhari on Monday in Abuja signed the 2020 Finance Bill into law, increasing it from an initial 5 per cent. A statement by the Special Adviser to the President on Media and Publicity,…
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