The new Value added Tax rate of 7.5 per cent will not take effect until the new Finance Bill is gazetted by the Federal Government, President, Chartered Institute of Taxation of Nigeria , Dame Olajumoke Simplice, has said.She said the Bill had stipulated that the implementation date will be January 1, 2020, but 18 was only signed on January 13.
According to her, the last VAT review was 25 years ago. She said the country also has the lowest VAT rate in Economic Community of West African States sub-region.“VAT is a tax on consumption and is only paid when you consume goods or pay for services. Nigeria’s decision to raise VAT is good for its trade relations with other countries. Besides, VAT is very easy to collect and should be utilised for the development of the economy,” she said.
NigeriaGov Very good
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
New VAT implementation to await Finance Bill gazetteThe new Value added Tax (VAT) rate of 7.5 per cent will not take effect until the new Finance Bill is gazetted by the Federal Government...
La source: TheNationNews - 🏆 6. / 69 Lire la suite »
UPDATED: Buhari signs Finance Bill, approves 7.5% VAT increaseFor what reason Have they improved anything? 😂 😂 😂 😂 😂 We die here Wallahi I don't know this man knowing what is doing....you approve 7.5% on top doing nothing, GOD will punish you coz you are driving Nigeria back each and everyday .
La source: MobilePunch - 🏆 8. / 63 Lire la suite »
LCCI lauds Buhari over assent to Finance Bill, insists VAT increment will impact businesses negatively – Daily TrustThe Lagos Chamber of Commerce and Industry (LCCI) has commended the federal government on some of the expected positive impacts of the finance bill signed into law by President Muhammadu Buhari on Monday.
La source: Daily Trust - 🏆 13. / 51 Lire la suite »
New VAT implementation to await Finance Bill gazetteThe new Value added Tax (VAT) rate of 7.5 per cent will not take effect until the new Finance Bill is gazetted by the Federal Government...
La source: TheNationNews - 🏆 6. / 69 Lire la suite »
LCCI lauds Buhari over assent to Finance Bill, insists VAT increment will impact businesses negatively – Daily TrustThe Lagos Chamber of Commerce and Industry (LCCI) has commended the federal government on some of the expected positive impacts of the finance bill signed into law by President Muhammadu Buhari on Monday.
La source: Daily Trust - 🏆 13. / 51 Lire la suite »
UPDATED: Buhari signs Finance Bill, approves 7.5% VAT increaseFor what reason Have they improved anything? 😂 😂 😂 😂 😂 We die here Wallahi I don't know this man knowing what is doing....you approve 7.5% on top doing nothing, GOD will punish you coz you are driving Nigeria back each and everyday .
La source: MobilePunch - 🏆 8. / 63 Lire la suite »