Sunday, 14 August 2016
FG projects N20b VAT from e-commerce annually
The Federal Government wants to create an aggregate of N20billion from the e-trade subsector every year.
Making this revelation at the weekend was Mr. Segun Ebozoje, Chief Executive, Gention Global Resources Limited, he talked at an open gathering in Lagos.
Ebozoje, whose firm has been locked in by the Federal Inland Revenue Service (FIRS) to outline a mechanized framework to help the gathering and settlement of Valued Added Tax from the e-trade organizations, said it is a piece of the Federal Government's system to create incomes from each part of the economy so as to support the nation's total national output (GDP).
As indicated by him, the Federal Government will create an aggregate of N20billion income from e-trade organizations when the robotized settlement framework commences.
He however focused on the requirement for the consenting to of a tripartite arrangement including the e-trade organizations, the banks and FIRS in making the procedure of computerized VAT settlement conceivable.
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