Stella Dimoko Korkus.com: FIRS Gives Reasons For Wanting To Impose VAT On Online Transactions

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Sunday, May 19, 2019

FIRS Gives Reasons For Wanting To Impose VAT On Online Transactions

The Federal Inland Revenue Service (FIRS) says it will soon begin collection of Value Added Tax (VAT) on online transactions.





The Chairman of the agency, Mr Babatunde Fowler, made the disclosure in an interview with the News Agency of Nigeria (NAN) in New York on Saturday.

Fowler said: “soon, we will ask banks to impose VAT on online transactions for purchases of goods and services.

“Not that it is something new; it actually should be in existence.

We will certainly follow up to make sure that every VAT that is due to be collected is collected.”


He explained that the move was part of measures by FIRS to meet its N8 trillion revenue target for 2019.
Fowler said the agency had started taking action against companies and businesses that refused to embrace the Federal Government’s tax amnesty programme.

According to him, FIRS hopes to generate between N750 billion and N1 trillion from the clampdown, which includes closure of defaulters’ bank accounts.
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12 comments:

  1. After generating the money from the masses, you share it among FIRS bosses. Mscheew

    ReplyDelete
    Replies
    1. No Uncle Tunde shares the money with his babes, awon Patricia, Chioma & ko

      Delete
    2. this will definitely affect struggling ecommerce businesses

      Thunder will fire thr leadership of this country

      Delete
  2. That is very bad of you people still labouring with much labour,god will help his people.

    ReplyDelete
  3. We already have bank charges to deal with now this, it's not like at the end of the day they can account for what it was spent on

    ReplyDelete
  4. What manner of rubbish is this one again?

    ReplyDelete
  5. Won dey oooo
    Wring money out to gather in put into bottomless pot for unaccounted purposes


    GOD Arise

    ReplyDelete
  6. Next level oh! Pls dont complain

    ReplyDelete
  7. I knew they were going to do this!!!!!


    All the trillions being generated and yet we keep borrowing to tie down the future generation in debts......

    ReplyDelete
  8. This comment has been removed by the author.

    ReplyDelete

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