Nigeria’s employers union has warned the Federal Government not to go ahead with a proposal to increase the Value-Added Tax charged in the country.
MBuhari ProfOsinbajo There are lots of channels govt can look at to raise money for the new wage: - National Assembly excess budget needs to be trimmed down first. - Govt should cut wastage by not venturing into a non-viable projects.. and so on.
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How FG generated N3.62trn from VAT in 4 years – Daily Trust…Data shows tax net expanding The Federal Government has generated a total of N3.62 trillion from Value Added Tax (VAT) in the last four years.ADVERTISEMENT Data sourced from the National Bureau of Statistics (NBS) showed that the value of VAT collected by the Federal Government has been on the rise from 2015 after President …
Source: Daily Trust - 🏆 13. / 51 Read more »
Minimum wage: FG mulls 50 percent hike in VAT, others - Daily Post NigeriaThe Federal Government, Tuesday, said it was considering 50% increase in Value Added Tax (VAT) to be able to pay the new national minimum wage currently be Nobody is talking about the effect on the large % of Nigerians that are not on government payroll.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
FG to increase VAT, adjust 2019 budget – Daily Trust…as Senate okays N30,000 minimum wage Experts speak The Federal Government would send request to the National Assembly for adjustments to the 2019 budget to reflect ways of sourcing funds to pay the new national minimum wage which was approved by the Senate yesterday.ADVERTISEMENT Minister of Budget and National Planning Udoma Udo Udoma said … That means masses should brace up and shoulder the burden of increasing workers' salary Increase VAT on what? What has value under this government that they want to increase the tax on it? God help Nigeria Let the government be more creative on how to generate revenue to take care of the new minimum wage. Increasing VAT amounts to giving with one hand and taking the other.
Source: Daily Trust - 🏆 13. / 51 Read more »
FG plans 50% increase in VAT, other taxes - Vanguard News NigeriaABUJA—Plans are underway by the Federal Government to increase Value Added Tax, VAT, by up to 50 per cent (from current 5 per cent to 7.5 per cent), a move that would stoke-up inflationary pressure in the economy. Minimum wage ? And things would be more expensive. Na wa oo That's too bad, why would they increase vat when senators and reps are collecting 15m/12m respectively without doing anything good for common men in Nigeria apart from allowances? The problem I got with nlc is that most of them r now politicians Mr integrity and co should have reduced the salaries and allowances of political office holders for this reason and many more! We have a long way to go as a country, so sad!
Source: vanguardngrnews - 🏆 5. / 75 Read more »
FG mulls 50% hike in VAT, others to pay minimum wageGovt should target VAT increase on selected goods. You don't increase VAT when 61% citizens live in abject poverty benmurraybruce Gidi_Traffic femigbaja Like seriously? Would this government contain the resentments of Nigerians we are pushed to the wall pls Buhari and co reap where you have sown
Source: MobilePunch - 🏆 8. / 63 Read more »
FG may increase VAT to pay new minimum wage – Budget ministerWhat's VAT Next Level my guys♂🤷🏽 Why can’t senators/Hon salaries and their unnecessary bonuses be drastically cut down. Honestly. they don’t deserve what they earn.
Source: MobilePunch - 🏆 8. / 63 Read more »
FG Considering Upward Review of VAT to Fund National Minimum Wage - THISDAYLIVEBy Deji Elumoye in Abuja The federal government has made known its intention to upwardly review the Value Added Tax (VAT) as a means of funding the national minimum wage. The Budget and National Planning Minister, Senator Udo Udoma, made this disclosure on Tuesday while appearing before the Senate Committee on Finance headed by Senator … Rubbish. They should come out and tell us they want to use another medium and take back the wage increment. Why can't FG reduce the money they are siphoning away in the executive and legislative arms of Government. So you want to rob from the masses to pay the citizens? Revolution is looming! No. That will be like taking two step forward and taking one step backward again. Why not just take one step forward and remain there.
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Med-View CEO urges implementation of VAT waiver for airlines – Daily TrustThe Managing Director/CEO of Med-View Airline Plc, Alhaji Muneer Bankole, has called on the Federal Government and its relevant agencies to fast-track the implementation of the exemption granted domestic airlines from payment of Value Added Tax (VAT). Daily Trust reports that the Federal Executive Council (FEC) had issued an executive order nine months ago to …
Source: Daily Trust - 🏆 13. / 51 Read more »
Industrialists, experts react to planned VAT hike – Daily TrustIndustrialists and experts have opposed the idea of increase in the rate of Value Added Tax (VAT) in Nigeria. The Federal Inland Revenue Service (FIRS) yesterday said Nigerians should brace up for an increase in VAT by between 35 per cent and 50 per cent from the current 6.75 per cent and 725 per cent.ADVERTISEMENT … This government no rate us at all, so they increased minimum wage from 18k to 30k after much pressure, and increased VAT to 50% in other words minimum wage after VAT is 15k.pls govt should leave minimum wage where it was. This increase no smell nice at all
Source: Daily Trust - 🏆 13. / 51 Read more »
FIRS to Nigerians: Be ready for VAT increase – Daily TrustThe Federal Inland Revenue Service (FIRS), on Tuesday, urged Nigerians to brace for an increase in Value Added Tax (VAT) by between 35 and 50 per cent in 2019. This will raise the VAT from the current five per cent to between 6.75 and 7.25 per cent.ADVERTISEMENT The Chairman of FIRS, Mr Babatunde Fowler, dropped … How about luring investors? That will equally come with super inflation.
Source: Daily Trust - 🏆 13. / 51 Read more »