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    Nwifuru demands arrest of killers of 13 Ebonyi indigenes in Anambra

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  • Welcome
  • Special reports
    • All
    • Unedited for the record
    Ohanaeze renews clamour for IPOB leader, Nnamdi Kanu’s release

    IPOB calls for review, says Kanya court ruling confirms Kanu’s trial lack legal foundation

    State police only solution to Benue killings, others- Adams

    State police only solution to Benue killings, others- Adams

    Ohanaeze renews clamour for IPOB leader, Nnamdi Kanu’s release

    Ohanaeze renews clamour for IPOB leader, Nnamdi Kanu’s release

    Experts hail new HIV injection breakthrough ,decry high cost

    Experts hail new HIV injection breakthrough ,decry high cost

    US governor of  North Carolina declares June 14 Igbo Day

    US governor of  North Carolina declares June 14 Igbo Day

    Obi calls for immediate end to violence against Benue communities

    Obi calls for immediate end to violence against Benue communities

  • Metro News
    Teachers, health workers strike,others:  Wike gets fresh ultimatum from FCT workers

    Teachers, health workers strike,others: Wike gets fresh ultimatum from FCT workers

    Abuja braces for two-week without water as rehabilitation works commence

    Abuja braces for two-week without water as rehabilitation works commence

    Ground rent: FCTA to take ownership of 4,794 revoked properties from Monday

    Ground rent: FCTA to take ownership of 4,794 revoked properties from Monday

    Apo-Wassa road ready for inauguration on Tinubu’s second anniversary-Wike

    Apo-Wassa road ready for inauguration on Tinubu’s second anniversary-Wike

    Wike approves recruitment of 34 resident doctors for FCT hospitals

    Wike constitute teams to screen Abuja land tittles

    FG revokes allocation to defaulting national housing programme beneficiaries

    Only two of 445 mass housing developers met FCTA conditions – Official

  • Latest News
    • All
    • Crime watch
    Teachers, health workers strike,others:  Wike gets fresh ultimatum from FCT workers

    Teachers, health workers strike,others: Wike gets fresh ultimatum from FCT workers

    Unremitted N82bn: Labour calls for suspension of pension scheme

    Unremitted N82bn: Labour calls for suspension of pension scheme

    JAMB set to announce admission cut-off marks, others

    JAMB set to announce admission cut-off marks, others

    Wike to meet area council chairmen, NUT, NANS over teachers’ strike 

    Wike to meet area council chairmen, NUT, NANS over teachers’ strike 

    Nwifuru demands arrest of killers of 13 Ebonyi indigenes in Anambra

    Nwifuru demands arrest of killers of 13 Ebonyi indigenes in Anambra

    USAID bows out after six decades

    USAID bows out after six decades

    Trending Tags

  • Infotech
    Senate approves restoration of Aniocha North II State Constituency, Delta

    Bill mandating social media platforms to have physical office, records of employees pass second reading at the Senate

    Nigeria investigated  213 privacy breaches in 2024-NDPC

    Nigeria investigated 213 privacy breaches in 2024-NDPC

    FG begins construction of emerging technologies Institute in Kano

    FG begins construction of emerging technologies Institute in Kano

    MTN denies orchestrating poor network to influence FG, labour talk, apologizes for network fluctuations

    MTN shuns Labour-FG committee on tariff review, hike data tariff by 200%

    Disconnections not to frustrate ₦EndBadGovernance Protest-Telcos

    FG receives recommendation on telecoms tarrif hike

    Peter Obi donates computers to Adamawa school, canvasses increased knowledge in ICT

    Peter Obi donates computers to Adamawa school, canvasses increased knowledge in ICT

  • World conflict & diplomacy
    UK prime minister back US military strikes on Iran ‘s nuclear sites

    UK prime minister back US military strikes on Iran ‘s nuclear sites

    Israel bombs Iran’s heavy water reactor, says state television

    Israel bombs Iran’s heavy water reactor, says state television

    Iran slams G7 statement for ignoring Israel’s blatant aggression

    Iran slams G7 statement for ignoring Israel’s blatant aggression

    Iran launch over 100 drones towards Israel as conflict escalates

    Iran launch over 100 drones towards Israel as conflict escalates

    Six nuclear scientists killed in Israel attack on Iran — Reports

    Six nuclear scientists killed in Israel attack on Iran — Reports

    UK backs Morocco’s autonomy plan for Western Sahara

    UK backs Morocco’s autonomy plan for Western Sahara

  • Security
    Nwifuru demands arrest of killers of 13 Ebonyi indigenes in Anambra

    Nwifuru demands arrest of killers of 13 Ebonyi indigenes in Anambra

    State police only solution to Benue killings, others- Adams

    State police only solution to Benue killings, others- Adams

    Female suicide bomber kills 24, injure  scores in Borno community

    Female suicide bomber kills 24, injure scores in Borno community

    Obi calls for immediate end to violence against Benue communities

    Obi calls for immediate end to violence against Benue communities

    Police extend deadline for tinted glass permit to August 12

    Police extend deadline for tinted glass permit to August 12

    Tinubu govt assures farmers of security support against bandits, killer herdsmen

    Tinubu govt assures farmers of security support against bandits, killer herdsmen

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Home Finance & economy

No plans to increase VAT- Edun

Daily Intel Newspaper by Daily Intel Newspaper
September 9, 2024
No plans to increase VAT- Edun

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The Minister of Finance and Coordinating Minister of the Economy, Wale Edun on Monday denied speculations that the Tinubu’ administration has concluded plans to increase VAT to 10% from 7.5%.

In a statement personally my Edun the ministry said contrary to the speculations, the VAT rate as contained in relevant tax laws and chargeable on goods and services in Nigeria,
remains at 7.5%.

He said “The current VAT rate is 7.5% and this is what the government is charging on a spectrum of goods and services to which the tax is applicable.  Therefore, neither the Federal Government nor any of its agencies will act contrary to what our laws stipulate.

“Our focus as a government is to use fiscal policy in a manner that promotes and enhances strong and sustainable economic growth, reduces poverty as well as makes businesses flourish.  

“The imputation in some media reports on the issue of VAT and the opinion articles that have sprouted from them seem to wrongly convey the impression that the government is out to make life difficult for Nigerians. That is not correct. If anything, the Federal Government has, through its policies, demonstrated that it is committed to creating a congenial environment for businesses to thrive. 

“The tax system stands on a tripod, namely tax policy, tax laws and tax administration. All the three must combine well to give us a sound system that gives vitality to the fiscal position of the government.

“In fact, it is on record that the Federal Government, as part of efforts to bring relief to Nigerians and businesses, recently ordered the stoppage of import duties, tariffs and taxes on rice, wheat, beans and other food items.

“For emphasis, as of today, VAT remains 7.5% and that is what will be charged on all the goods and services that are VAT-able,” Edun said

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