Executive Chairman of the Federal Inland Revenue Service, Babatunde Fowler, has said that the agency will begin to impose value-added tax on Internet transactions both domestic and international with effect from January 2020.

Fowler, made the revelation on Monday at the African Tax Administration Forum in Abuja.

He said, “We have thrown it out to Nigerians. Effective from January 2020, we will ask banks to charge VAT on online transactions, both domestic and international.

“VAT remains the cash cow in most African countries, with an average VAT-to-total tax revenue rate of 31 per cent.

“This is higher than the Organisation for Economic Cooperation and Development’s average of 20 per cent.

“This statistics, therefore, is a validation of the need for us to streamline the administration of this tax with the full knowledge of its potential contributions to national budgets.

“It is, however, also bearing in mind the rights of our taxpayers.”

http://saharareporters.com/2019/08/26/nigerians-pay-tax-internet-transactions-january-2020-%E2%80%93firs

Okay.

Pls guys wats the update.. IPOB neva see bubu for japan?

Nigeria which way....

.. FTC

While the CBN wants to promote cashless transaction.

Policy Summersault.
A government of magnitude but no direction.

No integrated economic framework.

God will end your govt before then

Guess they're still looking for more means to milk Nigerians or fund their padded budget? Directionless government.Next level hardship upgrade even on the internet.

Abi oo, we wan include yahoo people too in our revenue generation...Lol Las las we go get wisdom. Abi lalasticlala

The reason am happy is that any useless policy aimed at milking the citizenry also affect the Buhari ass lickers negatively.


Keep singing the praises of a man that wants to drown you all becos of language, religion, party or tribal affiliation .

Am happy cos I know I can think straight and am not a fool cos the definition of FOOLISHNESS is supporting and following Buhari spits!

fuel power transport
now online tax

Adonko:
The reason am happy is that any useless policy aimed at milking the citizenry also affect the Buhari ass lickers negatively.


Keep singing the praises of a man that wants to drown you all becos of language, religion, party or tribal affiliation .

Am happy cos I know I can think straight and am not a fool cos the definition of FOOLISHNESS is supporting and following Buhari spits!

Irony is that most of them are running away from Nigeria to seek asylum!

I jump and pass.

Imagined!

Money that will be relooted and shared amongst the elites of this decaying British folly called Nigeria.

Sai Next level

Lol

Paying tax is not the problem but using the money against citizen na the problem. We haven't see any result on the one we are paying. Only to sponsor fulani to kill people.. And build ruga.

New government new formula.

dey don increase Nepa kudi.Nah to tax our breath, the number of time we make love on bed.Tufia!

Eeeh ! This government don craze shaa

Na wa o.

Means the cashless policy of the CBN would be rubbished and we'll be back to days of cash transactions.

Armed robbers would be so happy with the FIRS clowns.

Does it includes fund transfer from one account to the other?

TINUBU have carried his AGBERO work enter federal level.

Yawns.......

Welcome development

That's all they are good at. Collecting taxes from impoverished people and use same taxes to travel pointlessly upandawn. Idiatts

Bye bye to online transactions for me.

It’s LadyF again

sia baba

we will soon pay tax for using all the parts of our body .
it will be called BODY TAX

eg
eye tax: pay for looking
leg tax: pay for trekking
nose tax: pay for breathing
etc

ride on bubu



those that voted for u never see anything

The country has done nothing for the citizens yet they want to rob us

The tax way go kill Una abi?

Hmmm

Do after Mr president gave this man query he has been looking for ways to generate revenue.

Sem go soon start tax us for knacking.