President Muhammadu Buhari on Tuesday listed nine policy issues that will be the major focus of his administration in the next three years. Specifically, the President disclosed that between now and 2023 when his APC-led administration will complete its second term of four years, the government would commit its time, energy and other resources towards […]
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 […]
The Federal Government on Tuesday announced one-year deferment of the 35 percent import adjustment tax (levy) imposed on the fully built unit (FBU) electricity meters HSCode 9028.30.00.00 under the 2019 fiscal policy measures. The announcement was contained in a statement issued by Mr Abdullahi Tanko, the special adviser communication to the Minister of Finance, Budget […]
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. […]
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 […]
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 […]
As sub-national governments intensify their drive for improved revenues, Lagos State collected N205,163,386,767.06, representing about 29.69 percent of the IGR collected by states internally in half year 2019. Despite the state’s huge revenue collections during the six-month period under review, Zamfara State topped the IGR table by ranking with total N7,210,062,254.23 generated, improving its IGR […]
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 […]
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 […]
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 […]