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Explainer: VAT War Might Crush States Revenue
Value Added Tax, according to the Federal Inland Revenue Service, is a consumption tax paid when goods are purchased and services rendered. It is borne by the final consumer; that is all goods and services, both produced within or imported into the country, are taxable- except those exempted by the VAT Act. The VAT charge…
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41% Family Businesses To Decline In Sales Growth
Findings by PricewaterhouseCoopers global family business survey for 2021 has revealed that about 41 percent of family businesses in Nigeria are expected to decline in sales growth in the year. The survey examined the views of 2,801 family business leaders and decision-makers across 87 territories. The report is targeted at building on PwC’s long-time involvement…
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PwC: Nigeria has $900 Billion Dead Capital
PWC Nigeria has reported that Nigeria holds as much as $900 billion worth of dead capital locked up in residential real estate and agricultural land. It further added that of the estimated figure, the federal government’s abandoned properties account for N230 billion. Dead capital refers to unregistered real property, and is considered lost value because…