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ATAF Releases Draft Law On Digital Services Tax

The African Tax Administration Forum (ATAF) has suggested an approach to drafting legislation on digital sales tax services. The Suggested Approach – published on September 30 – has been developed by the ATAF Secretariat and ATAF’s Cross-border Taxation Technical Committee. It is aimed at helping African countries that are considering implementing digital service tax to […]

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60th Independence Anniversary: Buhari Justifies Fuel Subsidy Removal, Lists Achievements

President Muhammadu Buhari on Thursday stoutly defended his administration’s recent fiscal policy measures, particularly the deregulation of the petroleum pricing regime, saying the measures are inevitable if the abuses in the downstream subsector are to be curtailed and the economy better positioned for citizen’s socio-economic wellbeing. The President, who justified the fiscal policy stance of […]

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Reps Approve N13.08Trn Budget Proposal For 2021

The House of Representatives on Wednesday approved the Medium Term Expenditure Framework (MTEF), the Fiscal Strategy Paper (FSP), and put the total government’s proposed expenditure for the fiscal year at N13.08 trillion The approval of the proposed budget by the lawmakers was sequel to the unanimous adoption of a report presented by the Chairman, House […]

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RMAFC Vows To Recover Unremitted Revenue From Defaulting MDAs

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has unveiled plans to carry out a nationwide verification and reconciliation exercise on revenue inflows and remittances from relevant organizations to the appropriate government treasury covering a four year period (Jan 2016 – Dec 2019) with a view to compelling defaulting MDAs to remit such revenue to […]

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Non-Oil Contribution To Tax Revenue Hits 90% – FIRS

The Federal Inland Revenue Service (FIRS) on Thursday stated that non-oil tax receipts had consistently contributed 75% to 90% of total tax collections over the past few months. The FIRS Director, Communications and Liaison Department, Dr. Abdullahi Ahmad, quoted the Executive Chairman of the service, Mallam Muhammad Nami, as disclosing this during a courtesy call […]

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Ghana Revenue Authority Optimistic On Surpassing ¢42Bn Target

Ghana Revenue Authority (GRA) on Monday assured the fiscal authorities of its determination to meet its ¢42 billion revised revenue target for the 2020 financial year, despite the huge constraints the COVID-19 pandemic posed to businesses in the country. At the end of last month, the country had realised about ¢26 billion from domestic tax […]

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Customs Service Generates N976.6Bn In Half Year 2020

The Nigeria Customs Service, NCS, has reported that it generated a total sum of N976.6 billion intothe Federation Account between January and August 2020. The disclosure, which was made public in a document released by the Service’s Public Relations Office, indicated that the larger chunks of the revenue collected were from import duty and Value […]

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MDAs Failed To Remit N1.2Trn To Govt Coffers – FRC

The Fiscal Responsibility Commission has disclosed that most ministries, departments and agencies of government failed to remit about N1.2 trillion to to the Consolidated Revenue Funds of the Federal Government as required by law and fiscal regulations. The Acting Chairman of the commission, Barrister Victor Muruako, who gave this hint on Monday, explained that the […]

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Cross River Govt sets up special tax courts

The Executive Chairman of Cross River State Anti Tax Agency, Bishop Emma Isong, on Wednesday disclosed that the state government had established four “special” mobile courts to prosecute illegal tax collectors at all levels in the state Isong made the disclosure at a one-day Stakeholders’ meeting/workshop on “Anti-Tax Agency: Justification and a way Forward” held […]