Tuesday , 22 April 2014
Headlines
- Saudi Arabia 1Kilometer tall Kingdom Tower plans to become the World’s tallest building
- TOP 10 International EMEA Real Estate Events by 3INVESTONLINE
- Nigerian Real Estate Market: The New Oil Rig?
- Kenya to become a middle-income economy
- Lagos Moves To Stay Execution On Lekki-Ikoyi Bridge Toll Collection
- Lagos State Loses VAT Case Against the Federal Government
- In- store Vs online Shopping in Nigeria
Lagos State Loses VAT Case Against the Federal Government
We understand that the Lagos State government today lost its case filed at the Supreme Court challenging the powers of the federal government (FG) to collect Value Added Tax on goods and services supplied in the state. The Lagos State government had sued the FG seeking for a ruling to repeal the VAT Act on the basis that it was outside the legislative remit of the FG to collect the tax. The court however ruled in favour of the preliminary objection of the Attorney General of the Federation on behalf of the FG that the Supreme Court does not have original jurisdiction in the matter as it was a dispute between an agency of the FG and Lagos State and not a dispute between the FG and the Lagos State government. This is on the basis that VAT is collected by the Federal Inland Revenue Service which is an agency of the FG.
Lagos State has promised to explore other avenues to resolve the dispute.
PWC
Related posts
TOP 10 International EMEA Real Estate Events ...
April 21, 2014
Nigerian Real Estate Market: The New Oil ...
April 15, 2014
Kenya to become a middle-income economy
April 15, 2014
Lagos Moves To Stay Execution On Lekki-Ikoyi ...
April 14, 2014
In- store Vs online Shopping in Nigeria
April 14, 2014
Social Security on the way to Nigerians
April 14, 2014