Parrot Reporters
No Result
View All Result
  • Home
  • Top Stories
  • News
  • Politics
  • Business
  • Economy
  • World News
  • Diaspora
  • Other Features
    • Crime
    • Entertainment
    • Tourism
    • Interviews
    • Editorials
    • Opinion
Parrot Reporters

55 Percent of Nigeria’s VAT Revenue Comes From Lagos – KEMI ADEOSUN

Parrot Reporters by Parrot Reporters
August 2, 2017
0
55 Percent of Nigeria’s VAT Revenue Comes From Lagos – KEMI ADEOSUN
Share on FacebookShare on TwitterShare on Whatsapp

The Minister of Finance, Mrs. Kemi Adeosun has said that 55 Percent of Nigeria’s VAT Revenue Comes From Lagos. The minister gave out this information during a meeting with members of the Progressive Governors’ Forum in Birnin Kebbi

According to her the FCT generates about 20 percent of the VAT revenue while the remaining 25 percent is generated by all the remaining 35 states put together.

She further decried the low level of tax compliance in the country but said that the Federal Government was taking proactive steps to improve the rate of voluntary compliance.

She said, “There is no poor country that has a high tax compliance rate, and no rich country that has a low one. Fifty-five per cent of Nigeria’s VAT is collected in Lagos State; 20 per cent in the FCT; six per cent in Rivers; five per cent in Kano; and one per cent in Kaduna.

“I’m hoping that one day, the finance commissioners (of the states) will stop needing to come to Abuja monthly to share FAAC (Federation Account Allocation Committee’s monthly sharing of federally collected revenue) because IGR will be sufficient.”

More News...

BREAKING: FG Declares Tuesday, July 15 As Public Holiday to Honour Late Former President Muhammadu Buhari

BREAKING: FG Declares Tuesday, July 15 As Public Holiday to Honour Late Former President Muhammadu Buhari

Aregbesola’s Past Comes Back to Haunt Him: Adeleke’s Scathing Response

Aregbesola’s Past Comes Back to Haunt Him: Adeleke’s Scathing Response

Awujale of Ijebuland, Oba Sikiru Kayode Adetona Has Joined His Ancestors 

Awujale of Ijebuland, Oba Sikiru Kayode Adetona Has Joined His Ancestors 

BREAKING NEWS: Former President Muhammadu Buhari Passes Away In London

BREAKING NEWS: Former President Muhammadu Buhari Passes Away In London

Osun APC guber ticket: Aspirants emerge, battle lines drawn – abiodun KOMOLAFE

A word for Governor Oyebanji

A Mandate Renewed: Hon. David Olusegun Odunmbaku’s Visionary Leadership and the Future of Ojodu LCDA

A Mandate Renewed: Hon. David Olusegun Odunmbaku’s Visionary Leadership and the Future of Ojodu LCDA

OJODU MAYOR, HON. SEGUN ODUNMBAKU WINS RE-ELECTION WITH LANDSLIDE AS APC SWEEPS LG POLLS

OJODU MAYOR, HON. SEGUN ODUNMBAKU WINS RE-ELECTION WITH LANDSLIDE AS APC SWEEPS LG POLLS

How Young Muhammadu Buhari Steals the Spotlight at Book Launch, Secures Full Scholarship from Trobell Nigeria Chairman

How Young Muhammadu Buhari Steals the Spotlight at Book Launch, Secures Full Scholarship from Trobell Nigeria Chairman

About Us

Parrot Reporters is an independent and non-partisan news platform with special focus on Nigerians in Diaspora cum news within and outside the shore of Nigeria.


Our aim is to celebrate the exploits of Nigerians in diaspora particularly in Southern Africa and other parts of the world.

Categories

  • Business
  • Comic
  • Cover Stories
  • Crime
  • Economy
  • Editorials
  • Entertainment
  • Health
  • Interviews
  • Nigerians In Diaspora
  • Opinion
  • Other News
  • Politics
  • Sports
  • Tourism
  • Videos
  • World News

Follow Us

COPYRIGHT © Parrot Reporters
No Result
View All Result
  • Browse
    • Sports

© Parrot Reporters