Tag: VAT

  • CUPP sues FG over VAT increase, borrowing, others

    CUPP sues FG over VAT increase, borrowing, others

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    by

    Starnews NG
    in

    The Coalition of United Political Parties, on Tuesday, said it has, through one of its alliance party members, Action Peoples Party, commenced legal action in the Federal High Court over the increase in Valued Added Tax and other policies allegedly capable of unleashing sufferings on Nigerians. The Federal Government had recently announced its plan to…

  • Budget 2020: 10 Food Items Exempted From VAT

    Budget 2020: 10 Food Items Exempted From VAT

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    by

    Starnews NG
    in

    The Value Added Tax (VAT) Act in Nigeria exempts pharmaceuticals, educational items, and basic commodities. President muhammadu while presenting the 2020 budget at the National Assembly on Tuesday, stated that VAT exemptions are expanding under the Finance Bill, 2019. He noted specifically that section 46 of the Finance Bill, 2019 expands the exempt items to…

  • Nigerians kick as Buhari’s administration proposes 5% online purchase tax

    Nigerians kick as Buhari’s administration proposes 5% online purchase tax

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    by

    Starnews NG
    in

    Nigerians have condemned the Federal Government’s proposed five per cent Value Added Tax (VAT) on online purchases. The government said the move to raise revenue to fund the 2019 N8.9 trillion budget. The Executive Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, said the government might appoint banks as agents to deduct five…