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NEWS

Govs propose new VAT sharing formula, okay tax bills

The Nigeria Governors’ Forum has reiterated its strong support for the comprehensive reform of Nigeria’s outdated tax laws and approved a revised Value Added Tax distribution formula, with 50% allocated based on equality. In a communique issued by its Chairman, Kwara State Governor, AbdulRahman AbdulRazaq, the NGF expressed its support for modernizing the country’s tax system. The statement, shared with journalists in Abuja after the subnational consultation and engagement with […]

todayJanuary 17, 2025 12

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Nigeria gets W’Bank $1.5bn for subsidy removal, tax bills

he World Bank has fully disbursed a $1.5bn loan to Nigeria following the Federal Government’s implementation of key reforms, including removing fuel subsidies and introducing comprehensive tax policies, The PUNCH reports. The loan, part of the Reforms for Economic Stabilisation to Enable Transformation Development Policy Financing initiative, is among the fastest disbursements Nigeria has received with both tranches released in less than six months. According to a World Bank document , the […]

todayDecember 30, 2024 15

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