Tax

What Rishi Sunak Must Do To Avoid The Ditch

November 7, 2022 1:14 am

A fortnight ago, the world was treated to some dose of surprise when 42-year-old former hedge fund supremo, Rishi Sunak was announced as Britain’s third Prime Minister in just about two months. There is no gainsaying the fact that Sunak inherited what many people might describe as something close to a disaster. Staying afloat will now be directly hinged on how well he is able to find solutions to the most prominent problems that might be the only things uniting a deeply divided country. He will need to tackle a growing economic crisis sparked by the situation in Ukraine and …

ADC Presidential Candidate Denies Allegations Of Tax Fraud

June 23, 2022 1:13 am

Mr. Dumebi Kachikwu who is the presidential candidate of the African Democratic Congress (ADC), has denied allegations of tax fraud in the United States describing them as fake and malicious.

In a statement which he personally signed on Wednesday titled, ‘Allegations of tax evasion, fraud against me untrue, politically motivated’ Kachikwu denied the allegations.

The presidential candidate went on to posit that the allegations were propagated by his political opponents who were unhappy with his recent victory at the ADC Presidential primary a few weeks ago.

The Roots TV boss, therefore, urged his teeming supporters to pay no heed …

FG Loses Out, NASS Affirms States’ Power To Collect VAT

March 2, 2022 4:49 am

The Federal Government’s plan to retain the collection of Value Added Tax (VAT) despite a Federal High Court ruling, on Tuesday faced a major hit as the National Assembly rejected a proposal seeking to shift the collection of VAT from the concurrent to the exclusive legislative list, effectively leaving the decision to the Supreme Court which is currently hearing the matter.

Africa Daily News, New York recalls that last year, a Federal High Court had ruled that states had the powers to collect VAT, a ruling which the Federal Government vehemently opposed and have continued to collect VAT while it …

Protesting Pensioners Block Governor Ayade’s Office

Gov Ayade Orders Arrest Of Fake Tax Collectors In Cross River

May 24, 2020 11:07 am

Governor Ben Ayade of Cross River State has ordered the arrest of anyone found selling tickets or collecting any form of tax from those exempted from paying tax in the state.

The order was contained in a press statement issued on Sunday by Mr. Christian Ita, Special Adviser to the Governor on Media and Publicity.

The governor noted that some agents of the state still extort residents despite directives to desist.

Read Also: Ben Ayade Weeps As He Abolishes Tax For Poor People

He, therefore, ordered security agents to arrest anyone found wanting in that regard.

“It has been observed

…

Calls, Data Costs Rise As VAT Implementation Begins

February 2, 2020 8:31 am

As implementation of the 7.5 per cent VAT, which was increased from 5 per cent, becomes effective yesterday, February 1, 2020, telecoms subscribers have started paying for data and calls accordingly.

This was confirmed by The Association of Licensed Telecommunications Operators of Nigeria (ALTON), which issued a statement to notify the subscribers across all the networks of implementation of the VAT increase effective February 1. The statement was signed by its Chairman, Mr. Gbenga Adebayo and Head of Operations, Gbolahan Awonuga.

According to ALTON, purchases of telecommunication products and services will be affected by the implementation of the VAT increase.…