Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,158,054 members, 7,835,562 topics. Date: Tuesday, 21 May 2024 at 11:48 AM

What Does Consumption Tax Mean (picture) - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / What Does Consumption Tax Mean (picture) (379 Views)

What Is The Difference Between Consumption Tax And VAT / Imo State Enacts Law On Consumption Tax / Alcohol Consumption In Nigeria Per Geopolitical Zone - NBS (2) (3) (4)

(1) (Reply) (Go Down)

What Does Consumption Tax Mean (picture) by Yourprick: 5:09pm On Nov 05, 2023
What's the difference between vat and consumption tax

Re: What Does Consumption Tax Mean (picture) by Artiiclebeast: 5:20pm On Nov 05, 2023
Scammers unlimited.

Thanks for this tip.

I'll keep an eye out for any scams like this.
Re: What Does Consumption Tax Mean (picture) by Tojan: 5:26pm On Nov 05, 2023
grin grin
Re: What Does Consumption Tax Mean (picture) by aieromon(m): 5:26pm On Nov 05, 2023
Yourprick:
What's the difference between vat and consumption tax

The Lagos State Internal Revenue Service has urged business owners including, restaurants, hotels, and event centers in the state on the need to comply with the monthly collection of a five per cent consumption tax on all consumables and personal services.

In a statement on Thursday, the agency said by complying with the consumption tax, business owners were contributing to the development of the state.

The Lagos State in June 2009, enacted the Hotel Occupancy and Restaurant Consumption Law of Lagos State otherwise called Hotel Consumption Law, which imposed consumption tax at five per cent on the value of goods and services consumed in hotels, restaurants, and event centers within the state.

The tax base is the total cost of facilities, consumables, or personal services supplied to a consumer in, by, or on behalf of the hotel, restaurant, or events center.

https://punchng.com/lirs-seeks-consumption-tax-compliance-from-business-owners/

1 Like

Re: What Does Consumption Tax Mean (picture) by bjtinz: 5:29pm On Nov 05, 2023
Na wa o. 27k for afang?? shocked

1 Like

Re: What Does Consumption Tax Mean (picture) by Martinsmine(m): 9:38pm On Nov 05, 2023
Lagos na stupid state
Re: What Does Consumption Tax Mean (picture) by seunmsg(m): 9:40pm On Nov 05, 2023
I think it’s a tax peculiar to Lagos state. It’s a sales tax that is applicable to the hospitality industry i think. Not too sure though.

4 Likes

Re: What Does Consumption Tax Mean (picture) by aieromon(m): 9:51pm On Nov 05, 2023
seunmsg:
I think it’s a tax peculiar to Lagos state. It’s a sales tax that is applicable to the hospitality industry i think. Not too sure though.

The tax is peculiar to the hospitality business in virtually all of the states.

Oyo
https://www.premiumtimesng.com/news/535351-hoteliers-in-oyo-state-kick-against-consumption-tax.html

Kano
https://dailytrust.com/furore-over-kano-5-consumption-tax/

Ondo
https://www.thecable.ng/ondo-to-residents-we-are-collecting-consumption-tax-not-vat/amp

Imo
https://tribuneonlineng.com/imo-irs-tasks-hospitality-businesses-to-include-5-consumption-tax-in-billing-system/

Ogun
https://punchng.com/ogun-to-begin-audit-of-consumption-tax/

Rivers
https://dailypost.ng/2016/06/29/improving-igr-rivers-state-assembly-passes-three-bills-into-law/

Edo
https://www.vanguardngr.com/2011/11/edo-govt-threatens-hoteliers-over-tax-law/amp/

1 Like

Re: What Does Consumption Tax Mean (picture) by seunmsg(m): 9:54pm On Nov 05, 2023
aieromon:


Not really.

Oyo
https://www.premiumtimesng.com/news/535351-hoteliers-in-oyo-state-kick-against-consumption-tax.html

Kano
https://dailytrust.com/furore-over-kano-5-consumption-tax/

Ondo
https://www.thecable.ng/ondo-to-residents-we-are-collecting-consumption-tax-not-vat/amp

Alright. Good to see that it’s not peculiar to Lagos alone.

4 Likes

Re: What Does Consumption Tax Mean (picture) by tsdarkside(m): 10:04pm On Nov 05, 2023
you nigerians go cry tire....

no matter who is president,nothing will change....
Re: What Does Consumption Tax Mean (picture) by Bobloco: 10:09pm On Nov 05, 2023
seunmsg:
I think it’s a tax peculiar to Lagos state. It’s a sales tax that is applicable to the hospitality industry i think. Not too sure though.

It's not just peculiar to Lagos state but all states of the federation
Re: What Does Consumption Tax Mean (picture) by Probz(m): 12:28pm On Nov 10, 2023
bjtinz:
Na wa o. 27k for afang?? shocked

You know how the saying goes. Igbos cook better than Yorubas but Calabars cook better than Igbos (non-Anambra Igbos anyway). Afang soup is worth every penny. It’s like a spicy blood tonic packed with lots of vitamin C.

I’d pay up to 40k for it unquestionably and you do often have to get your wallet out. Ofe Owere, oha, Igbotic egusi, nkwobi, exquisite onugbu and Calabar vegetable soups are often expensive. But they’re worth it. It’s not exactly nonsense ewedu-abula so you have to pay for the quality if you’re eating out.

(1) (Reply)

Hope Uzodinma Emerges Winner Of Imo Governorship Election As He Wins In / Strike Flops In Lagos As Power Coys, Banks, Schools, Businesses Shun NLC / Supreme Court To Deliver Judgment On Sim Fubara/cole

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 14
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.