• About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, June 4, 2025
Daily Concord News
  • Home
  • News
    • All
    • Africa
    • local
    • Nigeria
    • Science
    • World
    At ECOWAS’ 50th Anniversary, Amb. Yusuf Tuggar calls for Regional Unity and Peace

    At ECOWAS’ 50th Anniversary, Amb. Yusuf Tuggar calls for Regional Unity and Peace

    Amnesty International’s Report: A Fictional Drama Masquerading as Human Rights Work

    Amnesty International’s Report: A Fictional Drama Masquerading as Human Rights Work

    Wale Edun Leads Call for Customs Reform to Unlock Regional Trade Potential

    Wale Edun Explains: “Borrowing is expected to Fund Strategic Projects, Not Inflate Debt Burden”

    Wale Edun Rallies Private Sector to Deliver ₦1.5 Trillion Highway Investments

    ICIEC Endorses Nigeria’s Infrastructure Drive, Commits to Enhanced Private Sector Participation

    Investor Confidence in Nigeria Deepens as Renaissance Capital Visits Finance Minister

    Wale Edun and Nigeria’s Economic Turnaround: A Case for Renewed Confidence

    How the Borno Governor, Prof. Babagana Zulum, Got It Wrong on Insecurity

    How the Borno Governor, Prof. Babagana Zulum, Got It Wrong on Insecurity

  • Politics
  • Business
  • Sports
  • Entertainment
    • All
    • Gaming

    Timipre Sylva Inaugurates the National Gas Expansion Programme, Committee

  • Tech
    NASENI Excited Over President Tinubu’s “Nigeria First Policy”

    NASENI, PICTT Restate Commitment to Promote Female Engineering with Launch of DELT-Her 2.0

    NASENI Champions the Made-in-Nigeria Products Drive in Kebbi State

    MTN and Globacom Avoid Disconnection as Debt Dispute Resolved

    MTN and Globacom Avoid Disconnection as Debt Dispute Resolved

    Kwik Launches On-Demand E-Commerce Fulfillment Service In Nigeria With KwikShelf

    Kwik Launches On-Demand E-Commerce Fulfillment Service In Nigeria With KwikShelf

    DG NITDA Urges Computer Sciences Students to Drive ICT Innovation

    How To Apply For Bridge To MassChallenge Nigeria 2021

    How To Apply For Bridge To MassChallenge Nigeria 2021

    Trending Tags

  • Lifestyle
    • All
    • Culture
    • Food
    • Health
    Diary of a Naija Girl’s Ifedayo Agoro & Frank Itom Are Engaged!

    Diary of a Naija Girl’s Ifedayo Agoro & Frank Itom Are Engaged!

    At Avalanche Book Launch, Nigerians Call For More Resources On Mental Health And Trauma Management

    At Avalanche Book Launch, Nigerians Call For More Resources On Mental Health And Trauma Management

    Femi Odekunle; The Pains That Won’t Go! By Haruspice

    Femi Odekunle; The Pains That Won’t Go! By Haruspice

    The Unifying Factor of Culture

    Examining Arts as a Unifying Elements

    The Unifying Factor of Culture

    The Unifying Factor of Culture

    Senate President Greets Asiwaju Bola Tinubu @69

    Senate President Greets Asiwaju Bola Tinubu @69

    Trending Tags

  • Opinion
No Result
View All Result
  • Home
  • News
    • All
    • Africa
    • local
    • Nigeria
    • Science
    • World
    At ECOWAS’ 50th Anniversary, Amb. Yusuf Tuggar calls for Regional Unity and Peace

    At ECOWAS’ 50th Anniversary, Amb. Yusuf Tuggar calls for Regional Unity and Peace

    Amnesty International’s Report: A Fictional Drama Masquerading as Human Rights Work

    Amnesty International’s Report: A Fictional Drama Masquerading as Human Rights Work

    Wale Edun Leads Call for Customs Reform to Unlock Regional Trade Potential

    Wale Edun Explains: “Borrowing is expected to Fund Strategic Projects, Not Inflate Debt Burden”

    Wale Edun Rallies Private Sector to Deliver ₦1.5 Trillion Highway Investments

    ICIEC Endorses Nigeria’s Infrastructure Drive, Commits to Enhanced Private Sector Participation

    Investor Confidence in Nigeria Deepens as Renaissance Capital Visits Finance Minister

    Wale Edun and Nigeria’s Economic Turnaround: A Case for Renewed Confidence

    How the Borno Governor, Prof. Babagana Zulum, Got It Wrong on Insecurity

    How the Borno Governor, Prof. Babagana Zulum, Got It Wrong on Insecurity

  • Politics
  • Business
  • Sports
  • Entertainment
    • All
    • Gaming

    Timipre Sylva Inaugurates the National Gas Expansion Programme, Committee

  • Tech
    NASENI Excited Over President Tinubu’s “Nigeria First Policy”

    NASENI, PICTT Restate Commitment to Promote Female Engineering with Launch of DELT-Her 2.0

    NASENI Champions the Made-in-Nigeria Products Drive in Kebbi State

    MTN and Globacom Avoid Disconnection as Debt Dispute Resolved

    MTN and Globacom Avoid Disconnection as Debt Dispute Resolved

    Kwik Launches On-Demand E-Commerce Fulfillment Service In Nigeria With KwikShelf

    Kwik Launches On-Demand E-Commerce Fulfillment Service In Nigeria With KwikShelf

    DG NITDA Urges Computer Sciences Students to Drive ICT Innovation

    How To Apply For Bridge To MassChallenge Nigeria 2021

    How To Apply For Bridge To MassChallenge Nigeria 2021

    Trending Tags

  • Lifestyle
    • All
    • Culture
    • Food
    • Health
    Diary of a Naija Girl’s Ifedayo Agoro & Frank Itom Are Engaged!

    Diary of a Naija Girl’s Ifedayo Agoro & Frank Itom Are Engaged!

    At Avalanche Book Launch, Nigerians Call For More Resources On Mental Health And Trauma Management

    At Avalanche Book Launch, Nigerians Call For More Resources On Mental Health And Trauma Management

    Femi Odekunle; The Pains That Won’t Go! By Haruspice

    Femi Odekunle; The Pains That Won’t Go! By Haruspice

    The Unifying Factor of Culture

    Examining Arts as a Unifying Elements

    The Unifying Factor of Culture

    The Unifying Factor of Culture

    Senate President Greets Asiwaju Bola Tinubu @69

    Senate President Greets Asiwaju Bola Tinubu @69

    Trending Tags

  • Opinion
No Result
View All Result
Daily Concord News
No Result
View All Result
Home Business

3 Things Muhammad Nami Said On NTA; 5 Things You Should Know About The Finance Act 2019

Tunde Abiola by Tunde Abiola
February 1, 2020
in Business, News
0
0
SHARES
74
VIEWS
Share on FacebookShare on Twitter

The Chairman/CEO of the Federal Inland Revenue Service, Muhammad M. Nami was live on Good Morning Nigeria – A daily talk show on the NTA – on Friday 31st January 2020 alongside others to discuss the Finance Bill 2019.

Here are three key things the FIRS Chairman said:

1 – “It is the statutory responsibility of all Nigerians who register with CAC to also do same with FIRS and to file returns of their transactions regularly”

2 – “The moment you add value to certain goods that are statutorily exempted they become taxable”

3 – “Basic unprocessed food items like yam, rice, cassava as it is in the hands of the farmer you do not pay tax on them. But when you buy and process them, you add value to them. Once value is added, VAT is charged”

Also, did you know that:

1. FIRS is a regulator and implementor of the Finance Bill 2020 as the apex tax collecting body of the country.

2. Every business registered in Nigeria is expected to register as a VAT Agent with the FIRS.

3. Essential items are excluded from the Value Added Tax (VAT). Such items include pharmaceuticals, food and educational items.

4. Every item that has value added to it is liable to pay the Value Added Tax (VAT).

5. The Act promotes Ease of Doing Business as it gives incentives to small businesses, by giving them tax breaks, reduced tax rates among others!

Tags: Finance ActFIRSMuhammadu Nami
Previous Post

What did Femi Adesina really do wrong? By Tope Ajayi

Next Post

4 Key Things You Should Know About The New US Immigration Ban On Nigeria

Tunde Abiola

Tunde Abiola

Next Post

4 Key Things You Should Know About The New US Immigration Ban On Nigeria

  • Trending
  • Comments
  • Latest

NIN-SIM Linkage: A Kidnappers’ Bogeyman On The Roll?

April 5, 2024 - Updated on February 9, 2025

How Atiku’s Lawyer’s Travelled To Cambridge To Confirm Buhari’s Certificate – And The Disappointment That Followed

September 6, 2019 - Updated on February 9, 2025

Vanguard Apologizes To Professor Osinbajo Over Fake News, Retracts Story

September 25, 2019 - Updated on February 9, 2025

I Will Waive my Constitutional Immunity to Clear my Name – Osinbajo

September 25, 2019 - Updated on February 9, 2025
Nigeria

Lest We Forget: Security Issues in Nigeria from 1999 to Date!

0
ISHA SESAY: A GOOD BOOK ON CHIBOK, HAMPERED BY MISREPRESENTATIONS

ISHA SESAY: A GOOD BOOK ON CHIBOK, HAMPERED BY MISREPRESENTATIONS

0
Ministerial list: Nigerians react to Buhari’s nomination of Akpabio, Keyamo, Saraki, others

Ministerial list: Nigerians react to Buhari’s nomination of Akpabio, Keyamo, Saraki, others

0
Channels TV Reporter Precious Owolabi Shot During Shiite, Police Clash Is Dead

Channels TV Reporter Precious Owolabi Shot During Shiite, Police Clash Is Dead

0
Insecurity: Tinubu, Matawalle should be commended for reinvigorating Navy — Saka

Insecurity: Tinubu, Matawalle should be commended for reinvigorating Navy — Saka

June 4, 2025

Two Years Of Nigeria’s Foreign Policy Under The Administration of President Bola Ahmed Tinubu: An Informed Commentary

June 3, 2025
Why I Share in Wale Edun’s Optimism On The Nigerian Economy

Moody’s Upgrades Nigeria’s Credit Rating Amid Reform Gains, Investor Confidence Grows

June 2, 2025
Beyond the Policy: How NASENI is Powering the Nigeria First Movement

Beyond the Policy: How NASENI is Powering the Nigeria First Movement

June 1, 2025

Recent News

Insecurity: Tinubu, Matawalle should be commended for reinvigorating Navy — Saka

Insecurity: Tinubu, Matawalle should be commended for reinvigorating Navy — Saka

June 4, 2025

Two Years Of Nigeria’s Foreign Policy Under The Administration of President Bola Ahmed Tinubu: An Informed Commentary

June 3, 2025
Why I Share in Wale Edun’s Optimism On The Nigerian Economy

Moody’s Upgrades Nigeria’s Credit Rating Amid Reform Gains, Investor Confidence Grows

June 2, 2025
Beyond the Policy: How NASENI is Powering the Nigeria First Movement

Beyond the Policy: How NASENI is Powering the Nigeria First Movement

June 1, 2025
Daily Concord News

Bringing the most intriguing News from around the world you everyone in a positive way

Follow Us

Browse by Category

  • Africa
  • Basketball
  • Business
  • Culture
  • Economy
  • Education
  • Food
  • Football
  • Foreign Affairs
  • Gaming
  • Health
  • Health
  • Interviews
  • Lifestyle
  • local
  • News
  • Nigeria
  • Opinion
  • Politics
  • Science
  • Security
  • Sports
  • Tech
  • Uncategorized
  • World

Recent News

Insecurity: Tinubu, Matawalle should be commended for reinvigorating Navy — Saka

Insecurity: Tinubu, Matawalle should be commended for reinvigorating Navy — Saka

June 4, 2025

Two Years Of Nigeria’s Foreign Policy Under The Administration of President Bola Ahmed Tinubu: An Informed Commentary

June 3, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Daily Concord News - All Rights Reserved.

No Result
View All Result

© 2025 Daily Concord News - All Rights Reserved.