Value Added Tax

Governor Umahi’s Sycophancy For Buhari And The Fulani Cabal

September 18, 2021 10:13 am

It is not so surprising that Ebonyi State Governor, Dave Umahi has been overtaken by bootlicking, Sycophancy, and a very dangerous sense of inferiority complex because it’s been a long time coming. When lust for power meets an unflinching love for an incompetent jester in President Muhammadu Buhari that is exactly what you obtain.

Umahi started his political career quite well, rising through the ranks in his chosen People’s Democratic Party (PDP) to become Governor of Ebonyi State in May 2015. He settled down to build infrastructures and develop the State, a mission he has creditably done well in implementing. …

CBN Explains Why Nigeria Can’t Stop Borrowing

FG To Use VAT Proceeds To Subsidise Electricity Tariff For 3 Months

October 13, 2020 12:02 pm

Proceed from Value Added Tax will be used to subsidise electricity tariff, according to agreement reached between the Federal Government and Labour.

The subsidy could be as much as ₦10.20 per kilowatt hour distributed across bands A, B and C for up to three months, said minister of state for labour and employment Festus Keyamo.

The three months is time for the joint technical committee bridging the talks between labour and federal government to complete its scope of work.

The committee, comprising ministries, departments, agencies, Nigeria Labour Congress and Trade Union Congress, was put up to investigate the implementation of …

Saudi Arabia Increases VAT To 15 Percent From Today

July 1, 2020 8:03 am

A new Value Added Tax (VAT) regime of 15 percent comes into effect in Saudi Arabia from today.

The rate was 5 percent before today’s increase.

The Kingdom’s decision to triple VAT was announced on May 11, as part of a new set of measures to mitigate the impact of the coronavirus pandemic on the economy.

Saudi Arabia’s General Authority of Zakat and Tax (GAZT) explained that the new rate will be applicable to food and beverages, domestic transportation and commercial sale and rent of real estate.