Legit.ng on MSN

How states will benefit from new VAT sharing formular under the new tax law

Nigeria's new VAT formula boosts states' share to 55%, marking a pivotal shift in fiscal federalismFederal Government’s VAT ...
The Punch on MSN

Tax law: N5tn VAT windfall for states as new formula begins

Nigeria's new VAT sharing formula begins in 2026, increasing states' share to 55%. This change projects a N5.07tn revenue ...
LEADERSHIP Newspaper

CIT, VAT Collection Rises By 40.5% To N5.34trn In 2022

The federal government last year generated a total of N5.34 trillion from Company Income Tax (CIT) and Value Added Tax (VAT) in 2022, a 40.5 per cent increase over N3.8 trillion which it collected in ...
Vanguard

FIRS targets N5 trillion VAT revenue amid EU concerns over tax evasion in Nigeria

ABUJA – The Federal Inland Revenue Service (FIRS) has laid out an ambitious road map, projecting a leap in revenue collection from Value Added Tax (VAT) to five trillion naira shortly. The goal was ...
The Punch Newspapers

VAT war: FG, others face N3.9tn loss, Lagos joins Rivers legal battle against FIRS

The Federal Government, the Federal Capital Territory and about 34 states may face revenue drop to the tune of over N3.9tn if the governments of Rivers and Lagos states begin the collection of the ...