VAT Remains 7.5% Reports Financial Minister
Nigeria’s value-added Tax rate remains 7.5 per cent and not 10 per cent, as suggested in some reports making the round. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, gave the clarification in a statement yesterday, saying neither the Federal Government nor any of its agencies will act contrary to what the laws stipulate. Addressing concerns over government actions perceived as burdensome, Edun reassured Nigerians that fiscal policies are designed to promote sustainable economic growth and alleviate poverty, not to hinder them.
Federal Government to fully automate Student Loan Scheme and fund with Education Tax
The Federal Government has announced that the Student Loan Scheme expected to commence soon would have as one of its sources of funding, the Education Tax under the Federal Inland Revenue Service (FIRS). The FIRS Chairman, Zacch Adedeji who revealed this while briefing the press at the Presidential Villa, Abuja alongside the Executive Secretary of […]