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N25bn Damages Suit: FIRS, First Bank, Plaintiff To Settle Out Of Court

A Federal High Court, Abuja has granted granted the prayers of the  Federal Inland Revenue Service (FIRS), First Bank of Nigeria Limited and an indigenous company, Biatemp Ventures Ltd, seeking an out of court settlement in a N25 billion damages suit filed against the lender and the FIRS by the firm over alleged account manipulation. […]

Budgeting Economy News Extra Latest News Revenue Revenue Agencies Tax

Lawan Accuses Revenue Agencies Of Non-Remittance, As Buhari Orders Cost Reduction

The President of the Senate, Senator Ahmad Lawan, has accused most revenue generating agencies in the country of failing to remit their funds  to the Federation Account as and when due, warning that such fiscal abuse will no longer be tolerated. Lawan who accused the revenue agencies of some lapses while speaking at the third […]

Civil Advocacy & Gender Matters Economy News Extra Latest News Revenue Tax

D Arewa Youth Forum Lauds Fowler On FIRS’ Achievements

The Arewa Youth Forum (AYF) on Monday commended the Executive Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, for what they called “unprecedented record in the history of tax administration in FIRS and in Nigeria”. Members of the National Executive Council of the group, who paid a courtesy visit to FIRS headquarters in […]

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Court Upholds Consumption Tax In Lagos, Restricts VAT Application

A Federal High Court has ruled that Value Added Tax (VAT) do not cover the field of consumption tax chargeable by states as the Constitution did not vest powers on the Federal Government to legislate over consumption tax on individuals or goods and services consumed in hotels, restaurants and event centres. With the ruling, the […]

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Revenue Constraints Hamper Attainment Of ERGP Targets – CDD

The Centre for Democracy and Development (CDD), one of Nigeria’s leading civil advocacy group on good governance, has identified revenue shortfalls as one of the constraints that undermined the Federal Government’s efforts to meet the broad economic development targets as outlined it the Economic Recovery and Growth Plan (ERGP). The civil society group made this […]

Economy News Extra Latest News Revenue Revenue Agencies Tax

FIRS Rakes In N4Trn In 9 Months, Seeks Jail Term For Tax Evaders

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has told federal legislators that the tax collection agency generated about N4.012 trillion from January-September this year, representing 60.77 percent of the N8.8 trillion target this year. Fowler made the disclosure when he appeared before the Senate Committee on Appropriations that the […]

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Why We Opened Non-Residents’ Tax Office – Fowler

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has said that the establishment of Non-Resident Persons’ Tax Office (NRPTO) is intended to ease tax assessment and payment of taxes by non-resident persons in the country. Specifically, the FIRS boss noted that the “devotion of attention to this segment of taxpayers […]

Economy News Extra Latest News Revenue Tax

New Taxes Underway On Carbonated Drinks – Ahmed

The Federal Government on Thursday hinted of plans to extend tax drives to cover carbonated (soft) drinks with a view to using collections from the items to augment collectible revenues required to fund the budget. The Minister of Finance, Budget and Planning, Mrs. Zainab Ahmed, disclosed this during an interactive session with journalists at the […]