Connect with us

Featured

More States Toe Gov Wike’s Line on VAT

Published

on

Following the defeat of the Federal government’s agency, Federal Island Revenue Service (FIRS) at the court by the Governor Nyesom Wike-led Rivers State government over collection of Value Added Tax (VAT), other states are dusting their legislative and legal gowns to follow suit.

Consequently, the Akwa Ibom and Adamawa state governments on Tuesday aligned themselves with the move to stop the Federal Government from collecting Value Added Tax.

The Director-General, Media and Communications, Adamawa State Government, Solomon Kumangar, in an interview with one of our correspondents in Yola, the state capital, said that the collection of VAT by the states was the only way of reducing their dependence  on federal allocations.

The Akwa Ibom House of Assembly, on its part, said it would soon begin work on a bill that would enable the state to collect VAT.

Similarly, Lagos said it would go ahead with the VAT bill, which passed second reading in the state House of Assembly on Monday.

But the governments of Ekiti, Osun and Benue states said they were still studying the situation before making any move.

The Federal High Court sitting in Port Harcourt in its judgment last month in a suit marked FHC/PH/CS/149/2020 held that the Rivers State Government had the powers to collect VAT within its territory.

The Federal Inland Revenue Service, on Monday, prayed the court to stay execution on the judgment.

But the presiding judge, Justice Stephem Pam, rejected the application, saying granting it would negate the principle of equity.

On Monday, the Lagos State Government toed the path of Rivers State as a bill to empower it to collect VAT scaled second reading in the state House of Assembly.

VAT is a consumption tax paid when goods are purchased and services are rendered. It is charged at a rate of 7.5 per cent.

On Tuesday, the Adamawa State Government told The PUNCH that the judgment was of interest to it.

Kumangar said the state government might seek to be joined in the Rivers State versus the FIRS VAT suit as an interested party.

He said Adamawa State, which is heavily reliant on federal allocations and overstretched by the impact of COVID-19 and post-insurgency recovery demands of rebuilding, saw the development in Rivers State as one of particular interest to it.

Adamawa State, according to him, welcomes the court ruling as another avenue for states struggling with financial problems to utilise, extend and improve their internally generated revenues.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Featured

Court Denies Binance Executive Tigran Gambaryan Bail

Published

on

By

Justice Emeka Nwite of the Federal High Court Abuja, on Friday, refused to grant bail to an executive of Binance Holdings Limited, Tigran Gambaryan.

Justice Nwite held that Gambaryan is likely to jump bail if granted to him.

The company and its executive were arraigned on a five-count charge bordering on money laundering before Emeka Nwite, judge of a Federal High Court in Abuja.

The defendants pleaded not guilty to the charge.

Moving an application, Counsel to the Defendant, Mark Mordi, argued that the court had the power to grant bail to the defendant and impose conditions to ensure his presence in court.

The prosecution counsel, Ekele Iheanacho, however opposed the bail application, stating that the defendant is a flight risk.

He stated that the defendant attempted to obtain a new passport, which he claimed was stolen, and this is a suspicious act given the proximity to his colleague’s escape from custody.

He added that the court cannot risk granting Gambaryan bail, especially as he is not attached to any community in Nigeria.

“The fact that the passport of the defendant is with the complainant does not guarantee that he will remain in Nigeria because the defendant is not only an American citizen but also an Armenian citizen by birth.

He urged the court to refuse the application and instead remand him in EFCC custody to ensure his safety and prevent potential flight risk.

Delivering ruling, the judge said several factors including the nature of offence and its severity must be considered when trying to decide whether or not bail should be granted to the defendant applicant.

Justice Nwite agreed with the depositions made by prosecution and was of the view that the applicant will jump bail if bail is granted to him.

He subsequently ordered that the trial be given an accelerated hearing.

After the ruling, the EFCC called its first witness, a staff of the Securities and Exchange Commission (SEC).

Continue Reading

Featured

Governor Adeleke Felicitates with Dele Momodu at 64

Published

on

By

The Executive Governor of Osun State, Senator Ademola Adeleke has felicitated with the celebrated journalist, and Publisher of Ovation Magazine, Akinrogun Dele Momodu on the occasion of his 64th birthday, describing him as “a pride of the media industry.”

Governor Adeleke noted Akinrogun Momodu’s heartwarming contributions to a just and equitable society, saying he has touched the minds and hearts of countless people with insightful words, logistic support and unwavering dedication to truth and justice.

The Governor appreciates the Ovation Magazine Publisher’s sustained commitment to informing and enlightening the public as a weapon of nation building, acknowledging him as an inspirational figure, who has empowered readers to think critically, and engage meaningfully.

“I congratulate my dear friend, Akinrogun Dele Momodu, on the auspicious occasion of his birthday. The Aare Tayese of Iwoland is a unique personality, who has touched lives positively and brought smiles to countless faces,” the Governor was quoted in a congratulatory message, signed by his spokesperson, Mallam Olawale Rasheed.

“On this auspicious occasion, I honour both your wonderful life and exceptional contributions to the media sector and the larger society. I note, with admiration, Akinrogun Momodu’s deep sense of commitment to a better Nigeria, which is manifest in columns and public discourse.

“On behalf of my family, I convey best wishes to Akinrogun Momodu on his birthday and it is my prayer that God grant him many celebrations in good health and happiness while also bestowing him the grace to give more to humanity.”

Continue Reading

Featured

Why We’re Charging Helicopter Landing Fee – Aviation Ministry

Published

on

By

The Ministry of Aviation and Aerospace Development on Monday said the introduction of helicopter landing levies was in line with global best practices and cost recovery measures.

This is contained in a statement by Odutayo Oluseyi, Head, Press and Public Affairs of the ministry in Lagos.

According to Mr Oluseyi, the ministry recognises the importance of helicopter operations in Nigeria’s aviation industry and is committed to implementing international best practices in helicopter operations.

He said that helicopter landing levies were commonplace in countries such as the US, the United Kingdom, India and various other regions worldwide.

He maintained that Tallahassee International Airport in Florida began implementing helicopter landing levies under Vector Airport Systems, since 1 October 2022.

Mr Oluseyi said helicopter landing levies were common across airfields in the United Kingdom, ranging from major commercial ones, to small general aviation fields.

He added that, typically, helicopter levies matched or exceeded those for fixed-wing aircraft, and varied based on factors like location and services provided.

“The federal government has granted NAEBI Dynamic Concepts Ltd exclusive rights to collect helicopter landing levies in line with the MoU between NAEBI Concept and NAMA (focal Agency), Federal Airport Authority of Nigeria (FAAN) and the Nigeria Civil Aviation Authority (NCAA).

“It is instructive to note that NAMA, under the Act as amended in 2022, is empowered to collect aeronautical revenues in both the upper and lower airspace to support her self-sustainability.

“However, over the years, NAMA has predominantly relied on the upper airspace for her revenue generation.

“Government in her wisdom, having discovered a lacuna on the lower airspace where helicopter operations is dominant, directed NAMA to live up to its responsibilities, to enable them generate enough resources, to sustain their aeronautical architecture, enhance security and surveillance and improve the overall quality of helicopter operations in Nigeria,” he said.

According to Mr Oluseyi, the government is confident that the move will improve capacity, efficiency, safety, security and attract more investments in the aviation industry.

Premium Times

Continue Reading

Trending