The Nigeria Economic Zones Association (NEZA), the umbrella body of Free Trade Zones operators and enterprises in the country, has cautioned the National Assembly and government agencies not to take actions that are inimical to attracting $25 billion Foreign Direct Investments (FDIs) yearly to the country through the Special Economic Zones’ scheme. The association’s Executive […]
L-R: Director, New Growth Areas, Mr. Olujimi Aina, Executive Chairman, LIRS, Mr. Ayodele Subair, Managing Director, O. M Associates, Mr. Olufemi Oguntade; During A Meeting Of FIRS On Deduction Of Withholding Tax On Commission With Stakeholders Within The FMCG, Gaming And Multi-Level Marketing Sector Held At Protea Hotel, Alausa, Ikeja On May 12, 2022
The Federal Inland Revenue Service (FIRS) has commended Nigeria’s top-performing taxpayers in the year 2021 them for fulfilling their fiscal obligations and thereby assisted government to meet its social contract with the Nigerian citizens, despite the harsh economic conditions imposed by the COVID-19 pandemic. The revenue agency, in a statement signed by its Executive Chairman, […]
The Federal Inland Revenue Service (FIRS) has reiterated the need for improved collaboration among countries and international stakeholders for the purposes of exploring alternative rules that will enable market jurisdictions, particularly African countries, to effectively subject digital businesses to tax. The Executive Chairman of the FIRS, Mr. Muhammad Nami, made this remark last weekend at […]
The Nigeria Extractive Industries Transparency Initiative (NEITI) on Thursday reported that four revenue agencies, namely the Nigeria National Petroleum Company Limited, Federal Inland Revenue Service, Department of Petroleum Resources and Ministry of Mines and Steel Development, generated N28.02 trillion into the Federation Account from 2017 and 2019. The agency made this disclosure in its just […]
The Nigeria Governors’ Forum (NGF) at the weekend reported that Sokoto State recorded the most impressive performance in its Internally Generated Revenue (IGR), growing its direct assessment revenue exponentially from a mere N7.5 million in half year 2020 to N519.5 million, representing 6,824% growth in the corresponding period of 2021 Other states with improved IGR […]
The Kogi State Internal Revenue Service (KGIRS) has accused Bharti Aitel Ltd. (Airtel) and Globacom Nigeria Limited of blackmail over the lingering tax default allegations against the telcos, which led to the recent sealing of their offices in the state. The agency alleged that Globacom had an unremitted tax liabilities of N300 million while Airtel’s […]
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami has urged politicians to treat tax revenue generation as an apolitical issue and called for all hands to be on deck to support the nation’s tax system and make it more efficiently functional. Nami made this appeal on Tuesday in his opening remarks […]
President Muhammadu Buhari has restated his administration’s commitment to an efficient tax administration in order to improve tax revenue and guarantee sustainable growth of the country in the years ahead. The President, who made this promise while declaring open the second National Tax Dialogue Week, with the theme, ‘Tax Harmonisation for Enhanced Revenue Generation,’ at […]
The Anambra State Government has announced the commencement of the enforcement of payment of all outstanding tax liabilities by businesses and individuals in the state with effect from April 1. According to data computed by the Anambra State Internal Revenue Service (AIRS) the outstanding tax arrears stood at N513.9 billion owed by about 2.1 million […]