The Taxing Powers of the Government on Value Added Tax (Vat) in Nigeria
INTRODUCTION It is a truism that no government can function properly without revenue. Revenue helps government meet its numerous responsibilities of improving the quality of life of the citizenry. Cost of governance can only be financed through sustainable source of revenue by the government. One of the major ways a government can actualize and sustain […]
What You Must Know About the Deduction of Tax at Source (Withholding) Regulation 2024
The Deduction of Tax at Source (Withholding) Regulation, 2024, was issued by the Federal Ministry of Finance, on July 1, 2024. It stipulates the rules for deducting taxes from payments to taxable persons in specified transactions. This article highlights relevant provisions of the Regulation. 1. Persons Who Must Deduct Tax at Source These entities are […]
