Business
Tinubu’s Government Announces Plan To Collect Tax From Market Traders, Informal Sector
The President Bola Ahmed Tinubu administration has announced plan to introduce VAT Direct Initiative.
The President Bola Ahmed Tinubu administration has announced plan to introduce VAT Direct Initiative, a scheme that would enable Federal Government to collect Value Added Taxes (VAT) from the informal sector and reduce multiple taxations in the informal economy.
VerseNews Nigeria reports that the Nigerian Government made this known through the Federal Inland Revenue Service (FIRS) in a statement on Monday afternoon.
DON’T MISS: POS To Start Charging Customers N500 for N10,000, New Charge Price List Released (FULL LIST)
According to the statement, the FIRS is partnering with the Market Traders Association of Nigeria to collect and remit VAT from their members especially those in the informal sector using a unified systems technology.
The FIRS is the agency responsible for collecting Valued Added Taxes in Nigeria and other revenues accruable to the FG.
Osimhen Closes In on Yekini’s Goal Record After AFCON Brace
Victor Osimhen moved within three goals of Rashidi Yekini’s long-standing Nigeria scoring record after netting twice in the Super Eagles’...
Nigeria Hit Four in AFCON Knockout for First Time in 32 Years
Nigeria delivered a historic performance at the Africa Cup of Nations, scoring four goals in a knockout match for the...
Anthony Joshua May Quit Boxing After Deadly Nigeria Crash — Uncle Gives Reason
Former world heavyweight champion Anthony Joshua is considering stepping away from boxing following a tragic car crash in Nigeria that...
Lagos Begins Clearance of Illegal Structures Along Lagos–Badagry Expressway
The Lagos State Government has commenced clearance operations along the Lagos–Badagry Expressway to remove illegal structures and ease traffic congestion...
FG Discovers New Strategy to End WAEC, NECO Malpractice
The Federal Government has announced fresh strategies, including technology-driven reforms and stricter oversight, to tackle examination malpractice in WAEC and...
INEC Resumes Nationwide Voter Registration as Second Phase Begins
The Independent National Electoral Commission has resumed the Continuous Voter Registration exercise across the country...
‘Yahaya Bello Remains Innocent Until Proven Guilty’, EFCC Declares
The Economic and Financial Crimes Commission has reaffirmed that former Kogi State Governor Yahaya Bello remains innocent until proven guilty.
BREAKING: Tinubu Makes 21 New Appointments in Oil Sector
President Bola Tinubu has nominated former Rivers South-East senator Magnus Abe as chairman of the Nigerian Upstream Petroleum Regulatory Commission...
AI Used to Improve Quality of Tinubu-Kagame Paris Meeting Photo, Presidency Gives Details
The Presidency has responded to the reports alleging that a photograph of President Bola Tinubu with Rwandan President Paul Kagame...
How Rio Ferdinand Predicted Amorim’s Sacking
Manchester United legend Rio Ferdinand says Ruben Amorim’s dismissal did not come as a shock, revealing that recent press conferences...
You must be logged in to post a comment Login