The Senate has passed four tax reform bills for second reading during Thursday’s plenary session. Following the approval, Senate President Godswill Akpabio referred the bills to the Finance Committee, chaired by Senator Sani Musa (APC, Niger East), for further legislative work and a report back within six weeks. Before deliberating on the bills, the Senate … Read more
Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service (FIRS), has refuted claims that the federal government intends to impose new taxes or increase existing tax rates for Nigerians. During a session with the Senate Committee on Finance, chaired by Senator Mohammed Sani Musa, Adedeji clarified that the tax reform bills submitted to … Read more
No Proposed Increase in VAT Rate Input VAT Credit for Businesses Suggested Basic Goods and Services to be VAT-Exempt Eko Hot Blog reports that, addressing concerns raised by media reports, the Federal Government has clarified its position on Value Added Tax (VAT) reforms. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax … Read more