The sensitization programme was witnessed by Oyo State market Leaders Council, Ministry of Trade, Industry, Investment and cooperatives and Oyo State Board of Internal Revenue.
Browsing: VAT
This development was made public via a communique issued by the FAAC at its meeting on Friday.
This is according to the VAT Quarter 3 2023 Report released in Abuja on Monday by the NBS.
The report showed a growth rate of 21.34 percent on a quarter-on-quarter basis from N781.35 billion in Q2 2023.
This is according to a communique issued on Wednesday after the FAAC retreat and meeting in Asaba, Delta State.
The Lagos Chamber of Commerce and Industry (LCCI) has commended the Federal Government FG’s decision to suspend the VAT on diesel temporarily, calling for extension of the gesture to other energy, fuel and gas prices as well as staple food items.
This was according to a statement by Phil Abiamuwe-Mowete, the Director, Information/Press, on Wednesday in Abuja.
This decision is contained in a public notice, signed by its Executive Chairman, Muhammad Nami, where the tax authority noted that most states and local governments have failed to remit the Service Withholding Tax (WHT) and Value Added Tax (VAT) deductions from payments made to contractors and service providers by them as required by law.
While 41 Senators voted “Yes”, 44 voted “No” on the amendment.
On Monday, November 22, Daily Trust published an exclusive story entitled, “Kano beats entire five South East in VAT collection.” In the tradition of the newspaper, the story was a serious attempt to explain, in numbers, the tangled mess that VAT sharing has become in recent times.
The company, which made its position known in a statement released on Wednesday evening, also said it would lodge an appeal against the ruling at the Federal High Court, adding that the TAT ruling was based on technicality rather than the merits of the case.
Speaking on Sunday in Abuja at a public lecture entitled: “Taxing Powers in a Federal System” to mark the 60th birthday of Ahmed Raji, (SAN) Wike said that the state was only trying to pursue what was right and legitimate within the ambits of the constitution.
The News Agency of Nigeria reports that prices of food items and cooking gas have shot up by 30 per cent.
The appeal by the FIRS is against the August 9, 2021 judgment by Justice Steven Pam of the Federal High Court in Port-Harcourt, voiding the Value Added Tax (VAT) Act and holding the states could collect VAT.
He explained that the issues and comments around matter should be more of “economic history and analysing economic data instead of being turned to a South versus North thing.”
The Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami, said this in an interview with the News Agency of Nigeria (NAN) in New York while speaking on the disagreement over the collection of VAT between FIRS and the Rivers State government.
Yahaya stated this on Monday in Gombe when he received stakeholders of the All Progressives Congress (APC) from Gombe South Senatorial district.
According to him, the reformation of Nigeria will remain a mirage until the leadership recruitment process of the country is capable of producing leaders that are sincere, focused, visionary and missionary – all of which he said the present electoral system cannot produce.
This, it said, would enable businesses to know what to do.
The important challenge therefore is to ensure that access to resources also come with increased commitment by political leaders towards developing Nigeria’s productive sector.
This was contained in a communique after the meeting of the Forum in Enugu on Thursday.