An activist, Cleric E. Alaowei, has commended the House Representatives over the ongoing move to back up the state governments collection of VAT with legislations. The Chairman of the Board of Trustees, Centre for Human Rights and Anti-Corruption Crusade, noted that the VAT Bill, if passed into law, will end agitations in the Niger Delta … Read more
Governor Kayode Fayemi of Ekiti State, has admitted that Nigeria’s tax system is confusing and problematic. Fayemi, who doubles as the chairman of the Nigerian Governors’ Forum (NGF) said the forum is waiting for the decision of the supreme court over value-added tax (VAT) collection. On Sunday, Fayemi, during a live interview on Arise Television, … Read more
The federal government of Nigeria has updated the list, as they announce the exemption of some items from the VAT. The FG recently revealed that 63 items would not have any Value added Tax on them. The federal government of Nigeria has updated its fiscal reforms, as they remove 63 items from being taxed. This … Read more
Governor of Rivers State, Nyesom Wike says the state is not at war with Federal government over the collection of the Value Added Tax (VAT). Rivers State has been embroiled in legal tussle with the Federal Government over who has the constitutional authority to collect Value Added Tax, VAT. However, speaking through the Attorney General … Read more
Governor David Umahi of Ebonyi State has declined supporting colleagues from Rivers, Lagos and other states in their bids to collect Value Added Tax, VAT. Governor David Umahi asserted that the Federal Internal Revenue Service should be the best entity to collect VAT. Umahi stated this a dinner put up to honour the former Chief … Read more
Rivers State Governor, Nyesom Wike on Friday inaugurated the state’s Tax Appeal Commission shortly after the Abuja Division of the Court of Appeal ordered maintenance of status quo in the collection of value added tax by state governments. The commission inaugurated by Mr Wike is saddled with the responsibility to ensure taxable persons and entities … Read more
Attorney-general of the federation, Abubakar Malami says no state in Nigeria has the constitutional power to lay claim to the collection of value-added tax (VAT). The minister of justice said this on Friday, during an interview with Channels Television. The Federal Inland Revenue Service (FIRS) has been in a legal battle with Rivers and Lagos … Read more
The dollar to naira exchange rate at the black market, also known as the parallel market (Aboki fx), has skyrocketed to N1675, according to sources at Bureau De Change (BDC). The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) is: – Buying rate: N1660 – Selling … Read more
Governor Bello Masari of Katsina state, has criticized Lagos and Rivers States over their insistence on Value Added Tax (VAT) collection. Both Rivers and Lagos States have engaged the Federal Government in legal battle over the collection of Value Added Tax, VAT. The tussle is currently before the Supreme Court. Reacting to the matter, Masari … Read more
Abubakar Malami, attorney-general of the federation (AGF), has expressed the federal government’s readiness to challenge states at the supreme court over the collection of value-added tax (VAT). The Federal Inland Revenue Service (FIRS) has been in legal battle with some state governments over VAT collection. Malami, speaking to state house correspondents after the federal executive … Read more
Rivers state governor, Nyesom Wike, has threatened to seal off Federal Inland Revenue Service (FIRS) offices over controversy sorrounding value-added tax (VAT) payment within the state. Wike, who stated this during an interactive session with corporate organisations in Port Harcourt on Wednesday, vowed to execute his threat if FG continues to “bully” organisations within the … Read more
Governor Udom Emmanuel of Akwa Ibom state, says the decentralisation of value-added tax (VAT) collection “will favour every single state” in Nigeria. The Federal Inland Revenue Service (FIRS) has been in a legal battle with Lagos and Rivers state governments over the collection of Value Added Tax (VAT) Speaking on the matter on Thursday during … Read more
Governor Nyesom Wike of Rivers state, has insisted that states must be allowed to harness their resources and generate revenues, including value-added tax (VAT) collection, for development purposes. This is coming statement amid legal tussle over VAT collection between states and the Federal Inland Revenue Service (FIRS). In a statement signed by Kelvin Ebiri, special assistant on … Read more
Former deputy president of the senate, Ike Ekweremadu has called on the national assembly not to interfere in the ongoing battle between the Federal Inland Revenue Service and some states over collection of the Value-added tax (VAT) and stamp duties. There has been legal tussle between Federal Inland Revenue Service (FIRS) and some state governments, … Read more
A chieftain of the Ijaw Youth Council worldwide, Chief Frank Akiefa, has called on Governor Ifeanyi Okowa to add his voice to the demands for States to collect Value Added Tax. Recall that governors, particularly of the South have demanded for states to collection of VAT an exclusive right. Governor Nyesom Wike of Rivers and … Read more
Kingsley Moghalu, former deputy governor of the Central Bank of Nigeria (CBN), has opined that, considering the recent judgment of the federal high court in Port Harcourt, Rivers state, on value-added tax (VAT) collection, restructuring has already begun. Last month, the court issued an orderrestraining the Federal Inland Revenue Service (FIRS) from collecting VAT, while directing … Read more