Tag: VAT
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Worries as Nigeria Introduces 7.5% VAT on Mobile Bank Transfers and USSD
Overview: What the 7.5% VAT Means for Banking Services Nigerians could start paying a 7.5% Value Added Tax on selected banking services from January 19, 2026. The move targets activities such as mobile bank transfers and USSD-based payments, which many users rely on for day-to-day transactions. While VAT is a common fiscal tool used by…
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Nigeria Faces VAT Hurdle: 7.5% on Mobile Bank Transfers and USSD Sparks Outcry
Overview: What Changes With the 7.5% VAT Implementation Starting January 19, 2026, Nigerians are set to pay a 7.5% Value Added Tax (VAT) on a range of banking services, including mobile bank transfers and USSD-based transactions. The government argues that these digital financial services fall under taxable activities, while critics warn of potential double taxation…
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VAT Shock: Nigerians to pay 7.5% on mobile bank transfers and USSD banking
What’s changing Starting January 19, 2026, Nigerians may begin paying a 7.5% Value Added Tax (VAT) on certain banking services, including mobile money transfers, USSD banking, and related transactions. The proposal, still drawing responses from customers and industry players, suggests that standard banking fees could be subject to VAT, potentially altering the cost of everyday…
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Digital Continuous Transactional Reporting for VAT: OECD Policy and Design Considerations
Overview: Why Digital Continuous Transactional Reporting (DCTR) for VAT matters Digital Continuous Transactional Reporting for Value-Added Tax (VAT) is an approach where tax authorities receive near real-time information on business transactions. The OECD report, prepared with input from national authorities such as the Ministry of Finance (MoF) and the Central Board of Indirect Taxes and…
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Digital Continuous Transactional Reporting for VAT: OECD Policy Insights
Overview: Why Digital Continuous Transactional Reporting for VAT matters The OECD report on Digital Continuous Transactional Reporting (CTR) for Value-Added Tax (VAT) highlights a transformative approach to tax administration. By mandating real-time or near-real-time reporting of every taxable transaction, governments can improve VAT collection, minimize fraud, and strengthen fiscal resilience. This shift aligns with broader…
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OECD Digital Continuous Transactional Reporting for VAT: Policy and Design
Overview: What Digital Continuous Transactional Reporting for VAT Entails The OECD report on Digital Continuous Transactional Reporting for Value-Added Tax (VAT) presents a framework for real-time or near‑real‑time VAT data collection. The goal is to improve accuracy, reduce compliance costs for businesses, and close revenue gaps for governments. By moving from periodic VAT returns to…
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Zimbabwe VAT Change Puts Pressure on 2026 Bookings
Overview: VAT reform reshapes Zimbabwe’s tourism pricing The Zimbabwean government has unveiled a VAT reform that directly affects tourism pricing as operators prepare for 2026. The centerpiece is a modest lift in the standard VAT rate from 15% to 15.5%, but the more consequential move for travelers and the industry is the reclassification of many…
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Archbishop Urges Reeves to Back Down on Church VAT Raid
Overview: a tax relief in jeopardy? The Archbishop of York, Stephen Cottrell, has publicly called on Chancellor Rachel Reeves to protect a long-standing VAT exemption for repairs to listed religious buildings. With the Budget on the horizon, the clergy leader argues that a de facto VAT raid on churches would undermine the preservation of historic…
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Archbishop Urges Reeves to Spare Churches from VAT Raid in Budget Warning
Overview: a call to protect church VAT exemptions The Archbishop of York, Stephen Cottrell, has implored Chancellor Rachel Reeves to rethink proposed changes that could effectively amount to a VAT raid on churches. In the lead-up to the Budget, church leaders argue that any loss of VAT relief on repairs to listed religious buildings would…
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DEPDev Chief Balisacan Pushes Stricter Tax Enforcement Over VAT Cuts and Holiday Proposals
Policy stance: Prioritizing enforcement over tax holidays Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio M. Balisacan underscored a clear preference for tightening the grip on existing tax measures rather than introducing new reliefs such as tax holidays or lowering the 12% value-added tax (VAT). Speaking at the European-Philippine Business Dialogue (EPDB) during the…