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Asian markets rallied on Tuesday following another positive day on Wall Street stoked by US data that eased recession fears, while Chinese tech firms helped propel another surge in Hong Kong. Traders have kicked off the week on a positive note after Beijing at the weekend unveiled a range of measures aimed at reigniting activity
Hot SourceA Federal High Court in Abuja has dismissed the Nigerian National Petroleum Company Limited’s objection to a ₦100 billion import license lawsuit filed by Dangote Petroleum Refinery and Petrochemicals. Justice Inyang Ekwo, in his ruling, said the NNPCL failed to submit a counter-affidavit against Dangote Refinery’s claims and instead filed a preliminary objection, which goes
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A Federal High Court in Abuja has dismissed the Nigerian National Petroleum Company Limited’s objection to a ₦100 billion import license lawsuit filed by Dangote Petroleum Refinery and Petrochemicals. Justice Inyang Ekwo, in his ruling, said the NNPCL failed to submit a counter-affidavit against Dangote Refinery’s claims and instead filed a preliminary objection, which goes
Hot SourceNigeria’s House of Representatives on Tuesday passed for third reading, the four tax reform bills sent to the National Assembly in October 2024 by President Bola Ahmed Tinubu. This comes after the House had, at plenary last Thursday, considered and approved the report of the House Committee on Finance that worked on the bills and
Reps pass Tinubu’s tax reform bills
Nigeria’s House of Representatives on Tuesday passed for third reading, the four tax reform bills sent to the National Assembly in October 2024 by President Bola Ahmed Tinubu.
This comes after the House had, at plenary last Thursday, considered and approved the report of the House Committee on Finance that worked on the bills and the submissions received from Nigerians.
Accordingly, the House Committee retained the value-added tax at 7.5 percent instead of the proposed 15 percent.
DAILY POST reports that the four tax reform bills—including the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill—sent to the National Assembly have been the subject of controversies in the past months.
The earliest opposition to the bills came from the Northern Nigeria Governors’ Forum. The governors opposed the proposed value-added tax derivation model in the Nigeria Tax Bill, while the National Economic Council also opposed the tax derivation model.
President Tinubu, had in October 2024, submitted the four bills before the National Assembly.
Reps pass Tinubu’s tax reform bills
