The Federation Account Allocation Committee (FAAC), at its meeting, shared a total sum of N750.174 billion to the three tiers of government, as Federation Allocation for the month of January 2023.
The Communiqué issued by the Federation Account Allocation Committee (FAAC), at the end of the meeting, indicated that the Gross Revenue available from the Value Added Tax (VAT) for the month of January 2023 was N250.009 billion, as against N250.512 billion distributed in the preceding month, showing a decrease of N0.503 billion, from this amount, the sum of N10.000 billion was allocated to Cost of Collection, while the sum of N7.200 billion was given to transfers, Savings, Recoveries and Refunds
Source: tribuneonlineng.com
Latest Posts in "Nigeria"
- Nigeria Says VAT Stays at 7.5%, No Automatic Bank Deductions
- Nigeria Tax Service Reassures Taxpayers on VAT Rate and Bank Deduction Claims
- Nigeria Court Stops Delta State from Enforcing 5% Consumption Tax
- Nigeria: NRS Clarifies Tax Reforms, VAT Remains 7.5%
- Nigeria court voids Delta consumption tax on VAT-covered transactions
