{"id":80617,"date":"2021-09-09T19:02:51","date_gmt":"2021-09-09T18:02:51","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=80617"},"modified":"2021-09-09T19:02:51","modified_gmt":"2021-09-09T18:02:51","slug":"states-collecting-vat-will-lead-to-double-taxation-for-businesses-says-firs","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/09\/09\/states-collecting-vat-will-lead-to-double-taxation-for-businesses-says-firs\/","title":{"rendered":"States collecting VAT will lead to double taxation for businesses, says FIRS"},"content":{"rendered":"<p>The Federal Inland Revenue Service (FIRS) has stated that the central collection of value-added tax (VAT) had prevented businesses from double taxation and hardship that could emerge through state collections.<\/p>\n<p>This was made known by the group, special tax operations at FIRS,\u00a0<span data-preserver-spaces=\"true\">Mathew Gbonjubola at a press briefing on Wednesday.<\/span><\/p>\n<p>Recall that<span data-preserver-spaces=\"true\">\u00a0moves by the revenue agency to demand the inclusion of <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/09\/09\/moghalu-backs-rivers-vat-ruling-says-restructuring-has-already-begun-by-force\/\">VAT<\/a> collection in the exclusive legislative list.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This development is coming amid legal battle over VAT collection between FIRS and some state governments.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Recently, a federal high court in Port Harcourt issued an order restraining the <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/09\/09\/gombe-asks-lagos-rivers-to-allow-firs-collect-vat\/\">FIRS<\/a><\/span><span data-preserver-spaces=\"true\">\u00a0from collecting VAT and personal income tax (PIT) in Rivers state.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Although the federal tax authority appealed on stay of execution, the court refuted it on the<\/span><span data-preserver-spaces=\"true\">\u00a0basis that it would \u201cnegate the principle of equity\u201d.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Speaking at the media briefing,\u00a0<\/span>Gbonjubola said VAT is operated through an input-output method which may result in duplication of payments if in control of states.<\/p>\n<p><span data-preserver-spaces=\"true\">He said the central collection of VAT had prevented businesses from the hardship that could emerge through state collections.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cVAT is practised on an input-output mechanism. That means, for a business, that is either importing or buying products, for instance, it would pay VAT at the port of entry or manufacturer. When that business pays VAT it is accounted for that business as an input tax,\u201d he explained.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cSo when that business begins to sell in any part of Nigeria and charges VAT to its customers, it is able to recoup the input tax paid either at the port, if it is an imported item, or paid to the manufacturer if it is an item bought locally.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cFor instance, a business person who buys an item in Osun State, and pays VAT and takes the goods to Sokoto, to sell\u2014remember that this person had paid VAT when purchasing the product in Osun State\u2014 and then in Sokoto state, it would charge VAT, by the operation of the input-output mechanism, this person would deduct the input tax charged in Osun State from the output tax charged in Sokoto State and remit the difference to the tax authority.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cIn this case, because there is a single tax authority handling VAT, it is the same authority that will receive the VAT in Osun and Sokoto states.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cIt is easy to work out the input-output mechanism, businesses won\u2019t be short-changed; there is no issue of consumers having to pay VAT more than once.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cHowever, if this is operating at a sub-national level, it will mean that when businesses are paying VAT at the state level, the business would have to pay VAT twice in two different states.\u201d<\/span><\/p>\n<p>Gbonjubola further said the states and LGAs are the biggest beneficiaries of VAT.<\/p>\n<p><span data-preserver-spaces=\"true\">The FIRS official provided a breakdown of how VAT is shared in the country.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He said the federal government receives 15 percent, states get 50 percent, while 35 percent goes to the LGAs.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cVAT is administered on behalf of the federation and not on behalf of the federal government,\u201d he said.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThe revenue arising from VAT is shared among the three tiers of government based on the provisions of the VAT act such that 35% goes to the local governments, 50% goes to state governments, while 15% goes to the federal government.<\/span><\/p>\n<p>\u201cIn actual effect, 85% of VAT collected go to states and local governments, while only 15% goes to the federal government. VAT revenue is not paid into the federation account at inception; it goes into a VAT pool account. It is only after the sharing and allocation that the portion that falls to the federal government goes to the relevant consolidated revenue account.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Inland Revenue Service (FIRS) has stated that the central collection of value-added tax (VAT) had prevented businesses from double taxation and hardship that could emerge through state collections. This was made known by the group, special tax operations at FIRS,\u00a0Mathew Gbonjubola at a press briefing on Wednesday. Recall that\u00a0moves by the revenue agency [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":55922,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[1180,338,17592,385,15406],"class_list":["post-80617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-firs","tag-lagos-state","tag-mathew-gbonjubola","tag-rivers-state","tag-vat"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>States collecting VAT will lead to double taxation for businesses, says FIRS<\/title>\n<meta name=\"description\" content=\"The Federal Inland Revenue Service (FIRS) has 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