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Nigeria to begin collection of 7.5% VAT on crypto transactions July 8

The Federal Government will begin the collection of Value-Added Tax of 7.5 percent on every cryptocurrency transaction from July 8.One of the cryptocurrency platforms...
Business

FG generated N948.07bn from VAT in Q3 2023 – NBS

According to NBS, Local payments recorded were N522.08 billion, Foreign VAT Payments were N204.58 billion, while import VAT contributed N221.41 billion in Q3 2023.On...
Business

NLNG boss blames FX scarcity, VAT for rising cost of cooking gas

The Nigeria Liquified Natural Gas, (NLNG) Ltd., has attributed the rising cost of cooking gas in the country to scarcity of Foreign Exchange (FX),...
Business

Nigeria’s foreign VAT payments record N142.63bn, local payments hit N512.03bn in Q2 2023

The National Bureau of Statistics (NBS) disclosed the Value Added Tax (VAT) for the second quarter (Q2) 2023 was N781.35 billion, rising by 10.11...
Business

7.5% VAT charges on diesel will increase landing cost- iheanacho  

Mr Emmanuel Iheanacho, Chairman, Integrated Oil and Gas Ltd., says the proposed 7.5 per cent Value Added Tax changes (VAT) on imported automotive gas...
Business

Over N3trn Lost To Non-Compliance With Value Added Tax Act–FG

The Director General Budget Office of the Federation, Ben Akabueze has revealed that in 2022, Nigeria lost over N3trn through the non-compliance with the...
Business

Nigeria rakes in N1.4tn from VAT, company tax

The Federal Government generated N1.4 trillion from Value Added Tax (VAT) and Company Income Tax in three months.The National Bureau of Statistics (NBS) disclosed...

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