RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Business

Collection Of VAT By FIRS Remains —Malami

Rate Captain by Rate Captain
September 24, 2021
in Business, Economics
Reading Time: 2 mins read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AlsoRead

Dangote Refinery Cuts Petrol Price by Another N50 to N1,075 per Litre

FG Cuts Import Duties on Vehicles by 50% Ahead of New Green Tax

Nigeria’s Exports to US Drop by N366bn in Q1 as Imports from America Surge

The Federal Government says the Federal Inland Revenue Service (FIRS) will continue to collect Value Added Tax (VAT), following the ruling of the Court of Appeal on the matter.

The Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami, told the News Agency of Nigeria (NAN) in New York while speaking on the disagreement over the collection of VAT between FIRS and Rivers government.

The chief law officer of the federation explained that the ruling of the Court of Appeal that FIRS and the Rivers government maintain status quo, favoured FIRS.

He said it was FIRS that had been collecting the VAT before the dispute arose, over which the Rivers government approached the High Court.

“The position of not only the Federal Government but indeed the judiciary is the fact that status quo associated with the collecting of VAT should be maintained,” Malami said.

“And as far as the judicial system is concerned, the status quo as at the time the parties approached the court, it was FIRS that was indeed collecting the VAT.

“So, with that in mind, the Federal Government has succeeded in obtaining an order that establishes the sustenance of the status quo, which is that FIRS should continue collection.

“This is pending the determination of the cases that were instituted by states, particularly the Rivers State government and the Lagos State government. The cases are being determined by the court.”

NAN reports that the Rivers government had urged the Supreme Court to set aside the Court of Appeal’s September 10 ruling, ordering it and FIRS to maintain status quo, on the issue of VAT collection.

A three-member panel of the Court of Appeal headed by Haruna Tsammani, issued the order being challenged at the Supreme Court by the Rivers government.

The state also urged the apex court to disband the panel of the appellate court, which gave the interim order and ordered another one to be constituted to hear the case.

“But one thing of interest is the fact that the Federal Government had indeed taken cognisance of the fact that, where there is a dispute between a state and Federal Government, it is the Supreme Court that should naturally have the jurisdiction to determine the dispute between the state and the federation.

“And we are taking steps to consider the possibility of instituting an action before the Supreme Court, for the purpose of having this matter determined once and for all,’’ Malami said.

Previous Post

Abuja Records 191 of 433 New COVID-19 Cases in Nigeria

Next Post

Inflation, Regulatory Costs Push Banks’ Operating Expenses To N874bn

Related News

Dangote Bounces Back, Gains N313.2 Billion in 24 Hours Following Stock Losses

Dangote Refinery Cuts Petrol Price by Another N50 to N1,075 per Litre

by Akpan Edidong
July 3, 2026
0

Dangote Petroleum Refinery has further reduced the ex-gantry price of Premium Motor Spirit (petrol) by N50 per litre, bringing the...

Federal Government to Generate N12bn Annually from new vehicle tax.

FG Cuts Import Duties on Vehicles by 50% Ahead of New Green Tax

by Victoria Attah
July 2, 2026
0

The Federal Government has reduced Customs import duties on vehicles by up to 50%, effective from Monday, June 29, 2026,...

Naira Depreciation Forces Imports Down By 65% in Q3, 2023

Nigeria’s Exports to US Drop by N366bn in Q1 as Imports from America Surge

by Stephen Akudike
June 29, 2026
0

Nigeria’s exports to the United States declined sharply by N365.64 billion in the first quarter of 2026, even as imports...

Petrol Price Climbs to N1,596 per Litre in May, Edo Leads States

by Victoria Attah
June 25, 2026
0

Nigerians paid an average of N1,596.25 per litre for petrol in May 2026, according to the latest report from the...

Next Post

Inflation, Regulatory Costs Push Banks’ Operating Expenses To N874bn

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

FG Records N13.33bn Revenue Shortfall from Gas Flaring Penalties

FG Plans Massive N5.8 Trillion Treasury Bills Issuance in Q3 2026

July 3, 2026
Dangote Bounces Back, Gains N313.2 Billion in 24 Hours Following Stock Losses

Dangote Refinery Cuts Petrol Price by Another N50 to N1,075 per Litre

July 3, 2026

Popular Story

  • Nigeria’s Debt to China Surges by $800 Million in One Year

    31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0
  • FMDQ lists Dangote Cement’s N50bn commercial papers

    0 shares
    Share 0 Tweet 0
  • Domestic Equity Market Picks up by 30 Basis Points

    0 shares
    Share 0 Tweet 0
  • IMF Identifies High Inflation as a Major Hardship for Nigerians

    0 shares
    Share 0 Tweet 0
  • Bears Take Control as NGX Sheds N1.40 Trillion in Final Week of February

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>