The federal government is planning to raise the Value Added Tax (VAT) from 7.5 percent to 10 percent. EKO HOT BLOG reports that an executive bill to formalize the increase has already been submitted to the National Assembly. According to a Sunday report by The Cable, the proposed legislation seeks to gradually raise the VAT … Read more
The Nigeria Labour Congress (NLC) and former Vice President Abubakar Atiku have expressed concern over the recent hike in petrol prices by the federal government, warning that it has pushed most Nigerians to a breaking point. Speaking over the weekend, Atiku emphasized that the hike, along with plans to increase Value Added Tax (VAT), will … Read more
Multichoice Nigeria has spoken on raging controversy engendered by its imminent subscription rate increase. It would be recalled that the 2020 finance act, which was signed into law in January and implementation began in February, raised VAT by 50% from 5% to 7.5%. Multichoice had said it would, from June 1, adjust subscription rates to … Read more