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The tax rates displayed are marginal and do not account for deductions, exemptions or rebates. The effective rate is usually lower than the marginal rate. The tax rates given for federations (such as the United States and Canada) are averages and vary depending on the state or province. Territories that have different rates to their respective ...
The Nigeria Customs Service (NCS) is an agency of the Federal Republic of Nigeria, which operates as an independent customs service under the supervisory oversight of the Nigerian Ministry of Finance, responsible for the collection of customs revenue, facilitation of both national and international trade, anti-smuggling and border security activities.
The rate for GST, effective since 1 October 2010 is 15%. [77] This 15% tax is applied to the final price of the product or service being purchased and goods and services are advertised as GST inclusive. Reduced rate GST (9%) applies to hotel accommodation on a long-term basis (longer than 4 weeks).
The following is a list of agencies in the government of Nigeria. ... The Office of the Secretary to the Government of the Federation (SGF), which is domiciled in the ...
The national debt of Nigeria has increased over time due to various factors, such as government spending, revenue, economic growth, inflation, exchange rates, and interest rates. [4] The ratio of debt to gross domestic product (GDP) is often used as an indicator of the sustainability and solvency of the national debt. [ 4 ]
The Federal Ministries of Nigeria are civil service departments that are responsible for delivering various government services. Each ministry is headed by a Permanent Secretary who reports to a Minister in the Federal Cabinet . [ 1 ]
The Assembly has broad oversight functions and is empowered to establish committees of its members to scrutinise bills and the conduct of government officials. Since the restoration of democratic rule in 1999, the Assembly has been said to be in a "learning process" that has witnessed the election and removal of several presidents of the Senate, allegations of corruption, slow passage of ...
Nigeria's inflation rate rose to 15.63 per cent in December 2021 compared to 15.40 per cent in November, the National Bureau of Statistics announced on January 17, 2022. The statistics office said the prices of goods and services, measured by the Consumer Price Index, increased by 15.63 per cent in December 2021 when compared to December 2020.