The Federal Government has proposed a five per cent excise duty on telecommunications services, gaming, and betting activities as part of a new bill to overhaul Nigeria’s tax framework. The bill, titled, “A Bill for an Act to Repeal Certain Acts on Taxation and Consolidate the Legal Frameworks relating to Taxation and Enact the Nigeria…
President Bola Tinubu may bar revenue-generating agencies from collecting revenues on behalf of the Federal Government as he plans to introduce a single agency – Nigeria Revenue Service – to handle the task. This came as the Federal Government instituted a comprehensive set of fresh tax reforms aimed at significantly boosting revenue collection. The reforms,…
Nigeria’s President, Bola Tibubu has written to the National Assembly seeking lawmakers’ consideration for the quick passage of four tax bills. The president in his letter which was read on the floor of the plenary by the Speaker of the House of Representatives, Tajudeen Abbas, said that the proposed tax bills have been designed in…
GISTSMATE MEDIA reports that Bill Gates, co-chair of the Bill and Melinda Gates Foundation, has said tax collection in Nigeria is low. Gates stated this at a Pan-African youth dialogue on nutrition in Abuja, on Tuesday. The American business magnate is currently in Nigeria for a series of events. Speaking at the event, Gates said…
Solidarity Greetings From National Association of Polytechnic Students ( NAPS) Southwest Zone, Comrade Oyewumi Festus the NAPS PRO Southwest Zone frown on the hardship in the Country and lack of good ideas by President Committee on Fiscal Policy and Tax Reforms. It’s in the news on the Proposed Move by the Presidential Committee on Fiscal…
The Nigerian government on Tuesday, September 3, announced its plan to increase Value Added Tax (VAT) from 7.5% to 10%. Taiwo Oyedele the Chairman Presidential Fiscal Policy and Tax Reforms Committee gave a hint on this while speaking during an interview on Channels TV’s Politics. According to Oyedele, the committee is proposing a law to…
The Lagos State Government has disclosed its plans to raise ₦200 billion yearly from about two million people through digital economy sector tax. To achieve this, the southwest state will add remote workers and digital influencers to its current income tax base, and enhance its revenue collection process with digital solutions. Per the excerpt document…