The federal government in the second quarter of 2024 generated a total of N1.56 trillion from Value Added Tax. This is a 9.11 percent increase from...
Nigeria’s Company Income Tax (CIT) surged by 150.83% to N2.47 trillion in Q2 of 2024, from N984.61 billion in Q1 2024, the National Bureau of Statistics...
Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, on Monday, debunked reports doing the rounds that the rate for Value-Added Tax (VAT)...
Taiwo Oyedele, Chairman Presidential Fiscal Policy and Tax Reforms Committee, has said the committee working on increasing the Valued Added Tax (VAT) from the current 7.5%...
Nigerian President Bola Tinubu has announced a one-time 50% tax on windfall profits that banks reaped from currency gains following last year’s naira devaluation. This decision...
The Tax Appeal Tribunal (TAT) has mandated Nigeria Liquefied Natural Gas Limited (NLNG) to pay $27.5 million to the Federal Inland Revenue Service (FIRS) as a...
Kenya’s credit rating has been downgraded to Caa1 by Moody’s Investors Service, a deeper descent into junk status for the East African nation. The downgrade comes...
MTN Nigeria Communications Plc has announced a significant contribution of N549.3 billion in taxes and levies to the Nigerian government for the year 2023. This milestone,...
President Bola Tinubu has issued an executive order exempting pharmaceutical inputs from import taxes. This strategic decision is part of a broader effort to enhance the...
In a striking indication of the challenges facing Nigeria’s manufacturing sector, tax payments from manufacturers have plummeted to their lowest level in three years. According to...