Experts in the housing sector of the nation’s economy at the weekend called on the Federal Government to introduce subsidy in the sector to enable the country achieve the dream of providing affordable housing for the citizenry.

LASACO Assurance denies owing N278.5m tax

FG targets $1bn from tax amnesty scheme

The National Bureau of Statistics (NBS) has disclosed that revenue generated from Value Added Tax (VAT), increased by 1.73 per cent in the third quarter, Q3’17 to N250.6 billion.

PETROLEUM and Natural Gas Senior Staff Association of Nigeria, PENGASSAN,  has rejected the plan by both the Federal and state governments to tax pensions, gratuities and terminal benefits of workers in the country.

LAGOS State government yesterday threatened that it will from today commence the process of shutting down the corporate headquarters of organisations in the state who have defaulted in remitting statutory taxes to the government.

LAGOS State Government has decided to go all out in enforcing tax laws and payment by all defaulters, as only about 600,000 are up to date in terms of compliance.

The governments of Lagos, Osun and Kaduna states as well as the Federal Capital Territory administration have promised the Voluntary Assets and Income Declaration (VAIDS) office in the Federal Ministry of Finance to provide all transaction data required to identify tax defaulters at the expiration of the first phase of the tax amnesty programme in March 2018. This was disclosed in a statement issued by the VAIDS office.

The Minister of Foreign Trade and Development of Finland, Mr Kai Mykkanen, has called on Nigeria and other development countries to invest on improving the capabilities of their tax authorities to tackle tax abuse.

The Youth Action on Tobacco Control and Health (YATCH), an NGO, has lauded the Federal Government’s plan to increase tobacco tax.

The House of Representatives on Thursday urged the Federal Government to increase tax on tobacco as a means of curbing smoking and funding healthcare services in the country.

Chief Angus Uzoamaka, an Abuja based insurance broker, says tax incentives will encourage the growth of small and medium-scale enterprises in the country.

The issue is that of multiple taxation on individual investors is worrisome because whenever a company declares dividend, before it gets to you, they will deduct 10 percent withholding tax and this is after the government must have taxed the company’s profit. If a company makes profit of N10 billion and declares a dividend.

THE announcement that the Solid Minerals Ministry is proposing tax holidays for investors in the solid minerals sector is not only a step in the right direction, it is also long overdue. In fact, the measure should be extended to other sectors such as the agro-allied areas where rapid growth will generate investment, especially foreign investment and induce job creation.

Multiple taxation, especially double taxation of dividends has always been a burning issue in the Nigerian capital market. In this interview with Financial Vanguard, Mr. Godwin Anono, Chairman, Nigeria Professional Shareholders Association, NPSA, said it is disincentive to investment in the stock market and called on the federal government to cut tax. By Nkiruka Nnorom […]