Saturday, January 06, 2018 08:00 AM / Proshare
From the Editor’s Desk
The contribution of Value added tax in the month of November 2017 rose by 7.6% and 18.69% compared to previous month and on a 12month basis (YOY). Thus, the VAT generated in October remains the highest in this current horizon. In 2017 so far, Value added tax’s has contributed N887.93 billion to the federal allocation purse, making it 14.29% of the revenue composite, thus underlining government’s effort to improve its non-oil revenue. It is expected that as consumer confidence is positive in 2018 coupled with recent government policy to charge higher tax rate on luxury, such measure will blister the amount of taxes generated in 2018. Regardless, we still remain cautious on the projected non-oil revenue. Thus, an inability to meet such projection coupled with the possibility of fully absorbing oil subsidy by government threatens earlier short circuiting in the domestic money market.
Fig 1: Value Added Tax disbursed among the tiers from Dec 2017 to November 2017
Tuesday, January 09, 2018
The Senate will resume its plenary sessions today in Abuja, while the Chartered Institute of Taxation in Nigeria will commence the Lagos District Society Annual Tax Week Programme today.
Wednesday, January 10, 2018
The National Bureau of Statistics will release the Telecoms Data: Active Voice and Internet per State, Porting and Tariff Information for Quarter 3, 2017.
Thursday, January 11, 2018
Seven Up Bottling Company Plc will hold its Court Ordered Meeting today in Lagos.
Friday, January 12, 2018
The National Bureau of Statistics will release the Labour Force Statistics Volume 2: Employment by Sector Report for Q1 – Q3, 2017 today.
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Previous Week(s)1. What To Expect From The Markets This Week- 010118