Browsing Tag

VAT

New VAT Rate: FEC approves 7.2%

The Federal Executive Council on Wednesday approved a 7.2% new VAT rate on consumer goods which will become effective sometime in the year 2020.Also Read: FIRS posts 1.5tn revenue in Q1 of 2019Speaking to the Statehouse…

FG To Model New VAT Regime After UK

The Federal Government has announced plans to increase the Value Added Tax on luxury items.Minister of Finance, Kemi Adesina disclosd this after the federal executive council meeting on Wednesday.Nigerians currently pay 5% VAT, one…