FG Set to Implement New Taxes

A new excise duty has been introduced by the Federal Government on all carbonated and sweetened beverages commercially available in Nigeria. The new development places a N10 tax on every litre of carbonated, sweetened, and non-alcoholic drinks sold in the country. Excise duty is a kind of tax levied on the manufacturing, licensing, and sale…

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Domestic Companies Increase Nigerian Stock Market with ₦450 billion Gain

The Nigerian Stock market closed on a bright spot with an enormous gain of ₦450billion yesterday. The upturn in the equity market was realised from gains recorded from the domestic companies of large and medium capitalised stocks, amongst which are; Airtel Africa, Oando, Seplat Energy, Ardova, and Nigerian Exchange Group (NGXGroup). The All-Share Index (ASI),…

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Unremitted Taxes Worth N5.8 billion Due from 12 MDAs – Auditor General’s Report

Office of the Auditor-General for the Federation, OAuGF, has disclosed that about 12 Ministries, Departments and Agencies of government (MDAs) has refused to remit N5.8 billion worth of taxes. The MDAs concerned are: Nigerian Civil Aviation Authority, Federal College of Freshwater Fisheries Technology, Nigerian Correctional Service, House of Representatives, National Assembly Service Commission, the Senate,…

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