Tuesday, October 20, 2020
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Tag "value added tax"

ICYMI: UK to withdraw tax-free shopping for travellers from January 2021

    ICYMI: UK to withdraw tax-free shopping for travellers from January 2021

The United Kingdom says tourists will no longer enjoy tax-free shopping from January 1, 2021. The UK treasury said the scheme has been a “costly relief that does not benefit

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FG rakes in N651.77bn from VAT in six months

    FG rakes in N651.77bn from VAT in six months

Revenue generated from value-added tax increased by 8.45 percent from the N600.9 billion realised in half-year 2019 to N651.7 billion in 2020. According to the sectoral distribution on value-added tax

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Nigeria generates N338bn from VAT in Q1 2020

    Nigeria generates N338bn from VAT in Q1 2020

Data provided by the National Bureau of Statistics (NBS) shows that the country generated N338.94 billion as value-added tax in the first quarter of 2020. This is an increase from

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COVID-19: Saudi Arabia triples VAT, suspends cost of living allowance

    COVID-19: Saudi Arabia triples VAT, suspends cost of living allowance

Saudi Arabia has increased its rate of value-added tax by three-fold from 5% to 15%. According to the country’s news agency, the government would also suspend the cost of living

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SGF: We’ll be in a deeper crisis if VAT is reduced

  SGF: We’ll be in a deeper crisis if VAT is reduced

Boss Mustapha, the secretary to the government of the federation, says the country will enter a bigger crisis if the

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VAT now 7.5% as Buhari signs 2019 finance bill into law

  VAT now 7.5% as Buhari signs 2019 finance bill into law

The proposed increase in the rate of value-added tax from the present 5% to 7.5% has been signed into law.

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IMF endorses VAT increase, says it will cushion declining oil revenue

  IMF endorses VAT increase, says it will cushion declining oil revenue

Amine Mati, a senior resident representative with the International Monetary Fund (IMF) and mission chief for Nigeria, says an increase

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Zainab Ahmed: FEC approved increase in VAT to 7.5% — NOT 7.2%

  Zainab Ahmed: FEC approved increase in VAT to 7.5% — NOT 7.2%

Zainab Ahmed, minister of finance, budget and national planning, says the federal executive council (FEC) approved an increase in value

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Uber, Jumia, Netflix…. businesses that may be affected by FIRS’ new VAT policy

  Uber, Jumia, Netflix…. businesses that may be affected by FIRS’ new VAT policy

Businesses operating in Nigeria’s internet space are preparing to add value-added tax (VAT) to their cost of doing business. Babatunde

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From January, you will be charged VAT on online transactions

  From January, you will be charged VAT on online transactions

The Federal Inland Revenue Service (FIRS) says it will begin to impose value-added tax (VAT) on online transactions, both domestic

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