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Stakeholders Decry FIRS Plan to Commence VAT Collection on Gambling and Lottery games

  • Street: 12/14 broad street
  • City: ikeja
  • State: Maryland
  • Country: Nigeria
  • Listed: April 17, 2019 1:09 pm
  • Expires: 991 days, 14 hours
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Description

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, has disclosed the agency’s plans to charge Value Added Tax (VAT) on gaming activities, as well as automate VAT collection from lottery operators in Nigeria. Are value-added tax (VAT) is a consumption tax placed on a product whenever value is added at each stage of the supply chain. He disclosed this during a stakeholders’ meeting organised in conjunction with the National Lottery Regulatory Commission (NLRC) and lottery and gaming operators. According to him, the automation will help lottery players and bettors to easily pay VAT on each transaction.

Read more: https://innerkonsult.com/stakeholders-decry-firs-plan-to-commence-vat-collection-on-gambling-and-lottery-games/

Contact  InnerKonsult for Professional Services on Tax, Accountancy and CAC Services. O8038460036, www.innerkonsult.com

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Listing ID: 8865cb7256da4c6f

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