President Muhammadu Buhari has approved the suspension of the proposed excise duty on telecommunications indefinitely and constituted a committee to look into the matter. The suspended scheme could have seen an added tax to the tariff for telecom network subscribers but the Minister of Communications and Digital Economy, Isa Ali[Read More…]
Tag: Stamp duty
Nigerians to pay N50 Stamp Duty on ATM Printouts, Some WhatsApp Messages – FIRS
Nigerians will now pay stamp duties on WhatsApp messages, SMS, and messages via any electronic platform acknowledging receipt of funds, according to Federal Inland Revenue Service (FIRS). Muhammad Nami, executive chairman of FIRS in on the tax agency’s website, said “Any electronic receipt for, or electronic transfer of, money deposited[Read More…]
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FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]