The National Bureau of Statistics (NBS) has reported that a total sum of N1.92 trillion was disbursed by the Federation Account Allocation Committee (FAAC) to three tiers of government in first quarter of this year. The bureau, in its latest report on monthly disbursements to the tiers of government indicated in January, the Federal, State […]
The Minister of Budget and National Planning, Udoma Udo Udoma, on Wednesday said there was no cause for alarm on the country’s rising debt profile, saying it is sustainable. Udoma, who gave the assurance after the Federal Executive Council (FEC), reiterated government’s stance on the nation’s increasingly worrisome debt stock over which many analysts have […]
Workers of the South Africa Revenue Service (SARS) on Tuesday called off their four-day strike following their acceptance of the fiscal authorities’ offer of eight percent wage increase in 2019 and a CPI-plus-2-percent rise for 2020-21. The deal was struck following negotiations with the authorities by a union representing about half its employees, National Education, […]
The Attorney General of the Federation (AGF), Abubakar Malami (SAN), on Tuesday prayed a Federal High Court in Lagos to strike out a suit filed by leading telecom operator, MTN Nigeria Communication Ltd, challenging the N242 billion and $1.2 billion import duties and withholding tax (WHT) assessments slammed on it for payment. Represented by a […]
The National Council of Managing Directors of Licenced Customs Agents (NCMDLCA) has appealed to the Federal Government to take urgent steps towards stopping additional shipping charges being levied by shipping companies on imported cargoes in the country. The group stated that by the imposition of the charges called “the government and port taxes”, the shipping […]
There are strong indications that the concessionaires of the Muritala Muhammed Airport 2 (MMA 2), airport, Ikeja and the management of the Federal Aviation Authority of Nigeria (FAAN) may have agreed on how to offset the latter’s debt liabilities as the airport remained opened for air travels on Monday. The FAAN, had on Sunday alerted […]
The US is imposing new tariffs on $200 billion worth of Chinese goods as it escalates its trade war with Beijing. The taxes will take effect from September 24, starting at 10 percent and increasing to 25 percent from the start of next year unless the two countries broker a peace deal before then. A […]
Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, has called for the designation of tax malpractices by multinational corporations in Nigeria and other developing countries as ‘foreign corrupt practices’.
India’s Central Board of Direct Taxes (CBDT) has released additional information on the long-term Capital Gains Tax (CGT) announced in the recent budget
The Australia’s Board of Taxation has published the results of its review into the taxation of bare trusts.