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 […]
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has threatened to shut down telecommunications facilities in Kogi State following disputes arising from alleged excessive taxation and levies by the Kogi State Internal Revenue Service (KIRS). A statement issued by both the group’s Chairman, Engr. Gbenga Adebayo, and Head, Operations, Gbolahan Awonuga, warned that the […]
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami, has said that revenue mobilization of Nigeria and Niger Republic can be improved if the revenue authorities of both countries work together to deepen their relationship, share tax information and engage in mutual administrative assistance. Nami made this remark when he received his […]
The Federation Accounts Allocation Committee (FAAC) on Tuesday disclosed that it shared a total sum of N590.546 billion to the three tiers of government as federation account allocation for the month of February, 2022. A statement by the Deputy Director, Ministry of Finance, Budget and National Planning, Mr. Tunde Oshundun, on behalf of the Director […]