…..also emerges BusinessDay’s Public Service Award 2022 winner The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, at the weekend was named the winner of the Institute of Chartered Accountants of Nigeria’s (ICAN’s) Merit Award 2023 in the Non-Members Category at the Institute’s 2023 Annual Dinner Awards held in Lagos. The […]
…..remits N197.7bn Operating surplus /Spectrum fees to Federation Account The Nigerian Communications Commission (NCC) has described a news report by an online publication with a headline “NCC Incurs a Deficit of N17bn, Spending N35.2bn on Personnel, Consultancy Fees” insinuating that it recorded a loss of N17bn in 2021 financial year as totally false and demonstrated […]
The Federal Government on Thursday approved N1.535 trillion under the Phase 2 of the Nigerian National Petroleum Company Limited (NNPCL) Tax Credit Scheme for funding of critical infrastructure projects in the country. This disclosure was contained in the Federal Executive Council’s (FEC’s) brief at the end of its meeting at the Presidential Villa Abuja The […]
The representatives of the Organisation for Economic Co-operation and Development (OECD) and the Federal Inland Revenue Service (FIRS), have re-opened discussions on how the OECD-initiated Two-Pillar Tax Solution (Global Minimum Tax Rules) could be implemented without causing loss to Nigeria. The discussions formed part of the key agenda of the two-day workshop held on 4th […]
Nigeria Customs Service (NCS) Apapa Area Command on Tuesday disclosed that it raked in N212.592 billion revenue in the first quarter of financial year (FY) 2023. The Apapa Area Controller, Comptroller Auwal Mohammed, disclosed that during the quarter, a total of 110,448 metric tonnes of exports, comprising processed agricultural items such as sesame seeds, ginger, […]
Nigeria has renewed its call on the United Nations (UN) and the international tax community to promote inclusive, equitable, fair and universally beneficial international tax system towards the attainment of the 2030 Sustainable Development Goals (SDGs). The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, gave this charge while delivering Nigeria’s […]
The Debt Management Office (DMO) has charged the Federal Government to bridge the deficit in the 2023 budget with improved revenue generation from taxes. The DMO’s Director, Portfolio Management Department, Mr. Dele Afolabi, gave this charge at the Leadership and Development Policy Dialogue Series (LDPDS) organized in partnership with the African Centre for Leadership, Strategy, […]
The Federation Account Allocation Committee (FAAC) has shared a total sum of N722.677 billion from the federation account revenue to the federal, state and local governments in February this year. The communiqué issued at the end of the FAAC meeting for March 2023 indicated that the N722.677 billion total distributable revenue comprised statutory revenue of […]
The President of the Commonwealth Association of Tax Administrators (CATA), Mr. Muhammad Nami, has advised tax administrators to update their knowledge onthe dynamics being triggered by disruptive new technologies of the 21st century, and arm themselves with the necessary skills, capacity and character for effective and efficient tax administration in the fourth industrial revolution age. […]
The Nigeria Customs Service Ogun I Area Command has reported N28.4 million as revenue generated through import duties, auction sales of scrap vehicles and petroleum products. The Command’s Area Controller, Comptroller Bamidele Makinde, who made this disclosure explained that genuine imported goods were assessed and processed under the Economic Community of West African States (ECOWAS) […]