August 10, 2022

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Category : Tax

We’re Not Increasing Taxes But More Edo Citizens Should Participate

Govima August 19, 2021

Governor Godwin Obaseki of Edo State has revealed that his administration has no plans to increase taxes but needs more citizens’ participation in tax payment. Obaseki made this known to newsmen shortly after he visited the state Internal Revenue Service on Wednesday in Benin. The governor said that he visited the service because the tenure […]Read More

Business FIRS National Tax

Companies Owing Over N17bn Tax Remittances Addresses Can’t Be Traced

Govima August 16, 2021

The Federal Inland Revenue Service (FIRS), has owned up to N17.69 billion tax evasion by some companies whose addresses it claimed could no longer be traced. This is just as the upper legislative chamber ordered the Executive Chairman of the agency, Muhammad Mamman Nami, to go after the defaulting agencies for recovery of said tax […]Read More

Business National Tax

Nigeria Generates N472bn As Company Income Tax In Q2 2021

Govima August 11, 2021

The National Bureau of Statistics (NBS), has said N472.07 billion was generated as Company Income Tax (CIT), in Quarter Two (Q2, 2021), as against N392.64 billion generated in Q1, the News Agency of Nigeria (NAN), has reported. The NBS said this on Wednesday in Abuja in its “Company Income Tax By Sectors Q2, 2021” data […]Read More

FIRS IT & Telecoms National Tax

FIRS, SystemSpecs Parley On Tax Remittance

Govima July 31, 2021

Financial technology firm, SystemSpecs has joined hands with Federal Inland Revenue Service (FIRS), to strengthen tax administration through its Remita Payment Gateway, which powers payments on ‘TaxPro-Max’. The ‘TaxPro-Max’ is a new solution that used for filing of tax returns. The Remita Payment Gateway platform for private sector and government payments, has been integrated with […]Read More

Business Tax Transportation

Tax Payment: FIRS, SystemSpecs Partners To Ease Tax Remittances

Govima July 26, 2021

As part of efforts aimed to further simplify tax remittances in Nigeria, SystemSpecs has collaborated with the Federal Inland Revenue Service (FIRS), to strengthen tax administration through its Remita Payment Gateway which powers payments on TaxPro-Max, a solution newly introduced for filing tax returns. The company in a statement said the Remita Payment Gateway platform […]Read More

International Tax Worldwide

Global Taxation Nears Historic Deal Amid Last-Minute Hurdles

Govima July 2, 2021

The Biden administration and global allies scored a major victory Thursday in their push for a more balanced international corporate tax system, but still face multiple significant obstacles to completing an ambitious plan that has been years in the making. The boost came during a round of talks hosted by the Organization for Economic Cooperation […]Read More

Federal Govt. Tax Telecom

FG Mulls Excise Tax On Telecoms Airtime Charges

Kelvin childs Okoroji June 16, 2021

Nigeria is considering introducing an excise tax on telecoms airtime charges, Ben Akabueze, budget director said on Tuesday at a World Bank event where the need for the government to raise additional revenues was discussed. “Last year, we found that 51 countries in Africa have excise on airtime charges, so we are looking at that […]Read More

Nigeria Tax

‘Nigeria Loses Over N100b Yearly To Tax Related Corruption’

Kelvin childs Okoroji June 15, 2021

Nigeria might be losing about N100 billion every year to tax-related fraud, participants have disclosed at the 25th Anti-corruption Situation Room organised by HEDA Resource Centre in commemoration of the June 12, 1993 elections.Professionals from different fields said tax manipulation and evasion by individuals and corporate organisations remain one of the most devastating sources of […]Read More

Tax

FIRS: We Don’t Grant Tax Waivers To Local, Foreign Investors

Kelvin childs Okoroji June 11, 2021

The Federal Inland Revenue Service (FIRS) has said that it does not grant tax waivers to local or foreign investors in the country, saying the Act establishing the agency did not empower it to grant tax waivers. The Executive Chairman of FIRS, Mr. Muhammad Nami, made this known on Friday in Abuja when he appeared […]Read More

Tax

Tax Forms 70% Of FACC Allocations — Nami

Kelvin childs Okoroji June 3, 2021

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Alhaji Muhammad Mamman Nami, has said 60 to 70 percent of the funds shared monthly by the Federal Account Allocation Committee (FACC) among the three tiers of government, come from tax generated by the Service. Nami said this when he received the management of the […]Read More

Business Finance Tax

Toxic Loans, Courts May Force AMCON’s Burdens On Taxpayers

Kelvin childs Okoroji May 17, 2021

Odds against the Asset Management Corporation of Nigeria(AMCON)’s efforts to dispose of seized assets are growing, a development that could potentially slow down its debt recovery programme. Sources gathered that the assets scattered in different parts of the country have suffered value erosion, even as the asset management company struggles to lease or sell them […]Read More