The federal government is looking to get about N2.26 trillion from the Value Added Tax federation account in 2022.These are contained in the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper .Some states in the South have been at loggerheads with the federal government over their bid to become the sole collectors of VAT in their domains.
Rivers and Lagos states have since signed into law bills authorising the state governments to collect VAT, a move being resisted by theGovernors of the southern states under the aegis of Southern Governors Forum in their recent meeting in Enugu, expressed support for the collection of VAT by state governments.
The governors affirmed the position that the collection of VAT fell within the powers of state governments. There are, however, moves by the FIRS to legally empower the federal government to collect VAT across the country through an amendment to the Constitution.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
VAT for brothers: Stop illegality first, Wike tells FG, Gombe fears stoppage - Punch NewspapersThe most widely read newspaper in Nigeria They have being in power for 46 out of 61 yrs of independence yet banditry etc is prevalent. They get lion share of oil proceeds since its discovery in 1958 yet hardship is not alleviated. They want to hold on to VAT from the South when will the North stop being parasitic Prime Minister of Niger Delta Region. You are wise and extraordinarily courageous Legality takes precedence over brotherhood. First obey the law; thereafter, we will consider whether it is in our interests to be our brother's keeper. The Northerners always want it their own way, but our eyes are now open. No more robbing Peter to pay Paul 😂
Source: MobilePunch - 🏆 8. / 63 Read more »
Akinloye James: Understanding Nigeria's VAT administration: A historical perspectiveAn African proverb says that it takes someone who knows the history of a place to locate the boundary of the land. This is the reason we all should be Mr. James should go ask Chief Ijewere to get the proper historical perspectives of VAT.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Friday Adakole Elijah: VAT saga - The battle for federalismThe raging battle between the Governor of River State, Nyesom Wike and the Federal Inland Revenue Service (FIRS) today is a manifestation of a well 70% of the northern part of Nigerian are Foreigners they are not Nigerians....Oduduwa nation,Middle belt should wake up from the I sleepy. Oduduwa republic is the answer to your problem with the northerns.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
VAT: Uncertainty over Supreme Court hearing of Rivers, Lagos case - Punch NewspapersThe most widely read newspaper in Nigeria
Source: MobilePunch - 🏆 8. / 63 Read more »
The new VAT combat as protest, By Eric TeniolaThe actions of Chief Nyesom Wike (57), governor of Rivers State and Mr Babajide Sanwo-Olu (56), governor of Lagos, have made us to take another look at the issue of taxation in Nigeria. Specifically, the actions of these governors and their Houses of Assembly, and the Southern governors that met recently, have reawakened our thoughts […]
Source: PremiumTimesng - 🏆 3. / 78 Read more »
VAT controversy: Good or bad for the economy? - Punch NewspapersThe most widely read newspaper in Nigeria
Source: MobilePunch - 🏆 8. / 63 Read more »