Value Added Tax
LinkedIn Has Increased Membership Fees in Kenya
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit “Cookie Settings” to provide a controlled consent.
Activist asks court to compel Kano, others to refund VAT generated from alcohol
An Abuja-based activist, Sesugh Akume, has filed a suit before a Federal High Court in the nation’s capital, asking it to compel states that outlawed the sale of alcohol to refund the sums received through Value Added Tax imposed on alcoholic beverages. About 12 states practise Sharia law in Nigeria. They are Kano, Kaduna, Katsina, Kebbi, Sokoto, Borno, Yobe, Jigawa, Bauchi, Gombe, Zamfara and Niger. Based on Sharia law, some of the states prohibit the sale of alcoholic beverages and usually hold public events where bottles of alcoholic drinks are destroyed while gambling is also illegal. However, all the states receive VAT collected from alcoholic beverages sold in other states that permit the sale of the product. In an originating motion brought pursuant to Section 1(3), 4(5), 162(3), (4...
Lagos chamber advises central bank on tackling inflation
The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) to address the supply side variables impacting domestic prices. The post Lagos chamber advises central bank on tackling inflation appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Delta governor presents N378.1 billion 2021 budget to state assembly
Delta State Governor, Ifeanyi Okowa, Tuesday, presented a proposed budget of N378, 184,397,889 for 2021 fiscal year to the State House of Assembly. The budget is made up of N170, 370,000 for recurrent expenditures and N207.5 billion for capital expenditures. Okowa in the more than 50 minutes presentation of the Appreciation Bill at the Hallowed Chamber of the House, said the budget christened “Budget of Recovery” would be funded from four sources. The sources according to the Governor, include Internally Generated Revenue, N65.6 billion, Statutory Allocation including Mineral Revenue Derivation and Excess Crude, N219.9 billion, Value added tax, N17.5 billion and Other Capital Receipts, N17.3 billion. Explaining that the 2021 budget estimates was N96.1 billion increase over the revised budg...
Labour protests in Benin over hike in electricity tariff, fuel price
Members of the Nigeria Labour Congress (NLC) and Trade Union Congress in Edo State took to the streets of Benin on Monday to protest the recent increase of electricity tariff, fuel and Value Added Tax (VAT), in defiance of organised labour’s call off of an earlier planned strike action over the hike in the prices of utilities. The protesters who were led by the former presidential candidate of the National Conscience Party (NCP), Dr Osagie Obayuwana, and the State NLC chairman Mr Sunny Osayande, assembled at the King’s Square (Ring Road) and bore placards with inscriptions such as “No to Electricity Hike”, “No to Fuel Hike”, “Kill Corruption” amongst others, even as they attacked the government for the increase the prices. They insisted that they will embark on a total strike if the gover...
Federal, states, local governments share N651 billion revenue
The Federation Account Allocation Committee (FAAC) at the weekend shared a total of N651.184 billion as June 2020 allocation among the federal, states, local governments, and relevant agencies in the country. This is N103.877 million higher than the N547.309 billion shared for the month of May. A communiqué released by the FAAC after its monthly meeting at the weekend for the month of Julne 2020 which was held via virtual conferencing, put gross statutory revenue available at N524.526 billion. According to the communique, the meeting chaired by the Accountant General of the Federation, Ahmed Idris, put gross revenue from the Value Added Tax (VAT) at N128.826 billion while revenue from the Exchange Gain was N42.832 billion. This brought the total revenue for the month to N696.184 billion. F...
Federal, states, local government share N606 billion for April
The three tiers of government on Friday shared about N606.196 billion as federal allocation for April 2020. Details of the allocation were contained in a Secretariat report released by the Office of the Accountant-General of the Federation at the end of the online meeting of the Federation Accounts Allocation Committee (FAAC) in Abuja. The meeting was presided by the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Mahmoud Isa-Dutse. The communique showed the allocation included revenue from the Value Added Tax (VAT) collection, Exchange Gain, Solid Mineral Revenue, Excess Bank Charges and Excess Crude Oil Revenue. The breakdown of the allocations showed the federal government received about N169.831 billion, the states N86.140 billion, local government counc...
