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Business Manufacturing Top Story

Russia-Ukraine war: MAN demands removal of 7.5% VAT on diesel

The Manufacturers Association of Nigeria (MAN) has urged the Federal Government to remove the 7.5 per cent Value Added Tax on diesel until the international supply system normalises. It noted that the economy had been affected by several negative factors, including the ongoing Russia-Ukraine war and urged the government to convene a stakeholders’ meeting to Read More…

Business Taxes & Duties Top Story

Google, Apple, Facebook, Twitter, other non-resident digital companies to be taxed 6% VAT?

Unless our summations are wrong, the Federal Government may impose a six-per cent tax on turnover of non-resident blue-chip digital companies who sell products to Nigerian residents. These may affect companies such as Alphabet (owners of Google), Apple inc., Meta (owners of Facebook), Twitter, and PayPal who render online services to Nigerian residents. On Wednesday, Read More…

Business Economy Legal Metro Top Story

Lagos State to wait in application to join VAT appeal

The ruling has been reserved by the Abuja Division of the Court of Appeal on the application filed by Lagos State Government seeking to join an appeal by the Federal Inland Revenue Service, (FIRS) challenging the judgement of a Port Harcourt Federal High Court. On 9th August 2021, the Federal High Court had declared that Read More…

Business Nigeria Taxes & Duties Top Story

In landmark case, Federal Court grants Rivers State rights to collect VAT

States, not FIRS, constitutionally entitled to impose taxes enforceable or collectable in their territories The Federal High Court sitting in Port Harcourt has declared that it is the Rivers State Government and not the Federal Inland Revenue Services (FIRS), that should collect Valued Added Tax (VAT) and Personal Income Tax (PIT) in the State. The Read More…