The Federal Inland Revenue Service (FIRS) has advised members of the public to be vigilant and avoid dealing with scammers, who pose as recruitment agents for it. The Special Assistant on Media and Communication to the FIRS’ Executive Chairman, Mr. Johannes Wojuola, in a statement issued on Monday recalled that the revenue agency had consistently […]
Following the lapsing of the amnesty provided by the Voluntary Assets and Income Declaration Scheme (VAIDS) set up by the Federal Government of Nigeria through the Federal Ministry of Finance, the Joint Tax Board (JTB) in collaboration with the Federal Inland Revenue Service (FIRS), have indicated their readiness to immediately commence a “full scale enforcement […]
The Federal Inland Revenue Service (FIRS) on Monday announced that the 30th June 2022 due date for filing of Companies Income Tax (CIT) returns for the 2022 Year of Assessment, had been extended to 31st August 2022, for companies who were unable to meet the deadline. The Service stated this in a statement signed by […]
Anambra State Governor, Prof. Chukwuma Charles Soludo, on Thursday banned all motor parks’ unions and market associations from collecting revenue on behalf of the state government. The governor gave this directive at a one-day town hall meeting with the transport and market unions’ executives in Anambra State in a renewed fiscal move to plug leakages […]
In its sustained drive to boost its Internally Generated Revenue (IGR) collections, the Ondo State Internal Revenue Service (ODIRS) on Tuesday sealed three companies in Ore, in Odigbo Local Government Area of the state over alleged unpaid taxes. The ODIRS’ Head of Legal Department, Mr. Adebayo Ogunsuyi, who spoke on the action said that the […]
The Federation Account Allocation Committee (FAAC) on Friday disclosed that the three tiers of government shared a total sum of N680.783 billion as federation allocation for the month of May 2022. The committee stated that out of the revenues generated in Gross Statutory Revenue, Value Added Tax (VAT) and Electronic Money Transfer Levy (EMTL), the […]
African countries’ requests for information for tax collection purposes rose by 26% in 2021 over the previous year, signaling continued progress toward tax transparency in spite of a challenging environment. The Tax Transparency in Africa 2022 report by The Africa Initiative launched on Tuesday in Nairobi, Kenya covered 38 countries and documented Africa’s progress in […]
The National Bureau of Statistics (NBS) has reported that the aggregate Value Added Tax (VAT) collection stood at N588.59 billion in the first quarter of 2022, representing a quarter-on-quarter growth of 4.41 percent over the N563.72 billion raked in from the revenue source in Q4, 2021. The statistics agency in its report ‘Sectorial Distribution of […]
The Federal Inland Revenue Service (FIRS) has stated that it will commence the process of enforcement and recovery of unremitted tax deductions owed by some states and local governments in the country. The Service’s latest move is contained in a Public Notice, signed by its Executive Chairman, Muhammad Nami, in which it stated that most […]
The Federation Account Allocation Committee (FAAC) on Thursday disclosed that the federal, state and local governments in the country shared a total sum of N636.602 billion in April 2022 from the federation account accruals. The FAAC gave these figures in a communiqué issued at the end of its virtual meeting for May 2022. In a […]