Saturday, July 08, 2017 08:00 AM / Proshare
From the Editor’s Desk
The recent monthly economic publication made available by the apex bank showed that corporate taxes grew lean from 165 billion naira to 50 billion. Thus reflective of a 225% slump in corporate taxes compared to the previous month. When compared to the corresponding quarter, corporate taxes slumped by 1.4%. The amount of Value added tax gleaned in the same period stood at 73.5 billion naira, thus value added tax’s fell by 7% compared to the previous month. Other revenue rose to 44.7 billion from 19 billion in the previous month, thereby implying an increase of 127% in other revenue compare to the previous month.
Corporate taxes at the end of 2016 compared to 2015, shrunk by 4% due to substantial margin compression experienced by firms. Regardless it is expected that cyclical factors and earlier seasonal trend provide the needed tailwind for an accretion in corporate tax’s revenue for the month of July. Value added tax’s is expected to recover from the downward tilt due to government policy and a recent upswing in consumer confidence indexes. Evidently, there have been a buffering in the other income pool but more is needed to strengthen fiscal multipliers at this point and reduce the rate of debt absorption.
Monday, July 10, 2017
Conoil Plc will be marked down today haven declared a dividend of 310 Kobo.
Wednesday, July 12, 2017
The Debt Management Office on behalf of the Federal Government Of Nigeria will offer for Subscription by Auction the 14.50% FGN JUL 2021, 16.2844% FGN MAR 2027 and the 16.2499 MAR 2037 today.
The Nigeria Palm-Oil Technology Expo & Conference as well as the Nigeria Investment Opportunities Expo and Conference will commence today in Enugu.
Thursday, July 13, 2017
The Nigeria Agro Food Exhibition as well as Guaranty Trust Bank’s Autism Conference will commence today in Lagos.
Contact for Details: