The Federal Government on Friday apologized to Nigerians for its tweeted Notice asking all account holders in the financial institutions to re-register. As reported by BRTNews.ng, the government had, through its official twitter handle, on Thursday notified “the general public that all account holders in Financial Institutions (Banks, Insurance Companies, etc) are required to obtain, […]
Apparently encouraged by the boost non-oil tax sources have been giving its revenue accruals in recent months and the need to consolidate on collections from the sources, the Federal Government has directed all bank, insurance and other financial institutions customers in the country to immediately fill Self-Certification Forms with their banks or face sanctions. The […]
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 […]
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed,has projected that based on current micro and macroeconomic indices of the nation’s economy, there are strong indications that the nation’s economy would rebound in the first quarter of next year. The past few months had been challenging for the federal government as the devastating […]
Determined to boost its internally generated revenue (IGR) collections for sustainable development, Bayelsa State Government has constituted a tax advisory committee headed by the state Deputy Governor, Senator Lawrence Ewhrudjakpo. The committee, which was constituted during the fourth executive council meeting held in Yenagoa, was charged with the responsibility of identifying all non-oil revenue sources […]
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 […]
The French Finance Minister, Bruno Le Maire, on Friday expressed his country’s support for the European Union’s (EU’s) own digital tax in the first quarter of 2021 if broader efforts to find an international solution failed to translate into concrete results this year. A news report sourced from Reuters quoted the minister as saying that […]
An Australian federal court on Friday ruled that the amount of taxes that Crown Resorts, a casino operating company, must pay when bringing in VIP gamblers on junkets had been “excessive.” Crown launched its legal challenge two years ago, disputing whether the cost of commissions and rebates it paid out for junket tours could be […]
The Nigeria Extractive Industries Transparency Initiative (NEITI), has reported that Federation Accounts Allocation Committee (FAAC) shared N3.879 trillion to the federal states, local governments, and other agencies in the first half of this year, It reported that from January to May 2020, actual government revenue was N1.62trn, representing 62 per cent of the expected pro-rata […]
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 […]