- The Tinubu Media Support Group (TMSG) praised the Federal Government for allocating 5% more of VAT to sub-national governments for grassroots development.
- TMSG expects states to receive significantly more than the N3.77 trillion allocated from VAT in 2025 due to the administration’s commitment.
- The new tax law gives the federal government 10% of VAT, states 55%, and local governments 35%.
- TMSG credits improved VAT collections to better compliance and efficiency by the Nigerian Revenue Service.
- The group urges sub-national governments to use increased allocations for greater development at the grassroots level.
Source: thefact.ng
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Nigeria"
- Nigeria Implements Real-Time VAT and WHT Reporting to Strengthen Tax Compliance
- Nigeria Tightens VAT and WHT Compliance with Real-Time Tax Reporting, Says PwC
- Fonoa Recorded Webinar: E-Invoicing in Africa – Nigeria, Zimbabwe, Kenya, Ghana
- Nigeria’s VAT Compliance Rules for Non-Resident Digital Service Providers: Key Frameworks and Guidelines
- Nigeria Reaffirms VAT on Bank and Fintech Fees, No New Tax for Customers
