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Judicious Use Of Tax Revenue Will Improve Compliance Rate – FIRS

The Federal Inland Revenue Service (FIRS), the agency responsible for federally collectible revenue administration, has said that when governments deploy tax revenues for the common good of the citizens, there is a concomitant increase in tax compliance by citizens who see the direct benefit of the taxes they pay. The Executive Chairman of the Service, […]

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FIRS Warns MDAs On Illegal Tax Assessment, Collection, Enforcement Contracts

The Federal Inland Revenue Service (FIRS) has cautioned government’s ministries, departments and agencies (MDAs) against appointing consultants and concessionaires to collect taxes due to the Federal Government or any of its agencies in view of its statutory role as the sole agency empowered to administer such taxes in the country. In a Public Notice issued […]

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FIRS Not Mandated To Grant Waivers To Taxpayers – Nami

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, has said that the mandate of the revenue agency is not to grant tax waivers to taxpayers in the country but to collect taxes that are due to the federation and the Federal Government as provided in its enabling law. The seasoned […]

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Road Infrastructure Tax Credit Scheme, Fiscal Innovation Of FG – Nami

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami, has described the Road Infrastructure Tax Credit Scheme as one of the greatest innovations of the Federal Government to tackle Nigeria’s infrastructure deficit. The scheme, which provides for public-private partnership intervention in the construction, refurbishment and maintenance of critical road infrastructure in the […]

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FIRS Issues Road Infrastructure Tax Credit Certificate To NLNG

The Federal Inland Revenue Service (FIRS) has issued a tax credit certificate to Nigeria Liquefied Natural Gas Limited (NLNG), for the construction of the Bonny-Bodo road and bridge in Rivers State. While issuing the tax credit certificate last Thursday at the FIRS’ headquarters in Abuja to the company’s Deputy Managing Director, Mr. Olalekan Ogunleye, who […]

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FIRS Certifies Donations To Kemi Adeosun’s Charity Foundation As Tax Deductible

The Federal Inland Revenue Service (FIRS) has certified corporate entities’ donations to former Minister of Finance’s, Mrs. Kemi Adeosun’s charity organisation, DashMe Foundation, as tax deductible based on the provisions of the Companies Income Tax Act (CITA). As a result, the revenue agency has issued a tax-deductible donations certificate to DashMe Foundation. The FIRS issues […]

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Reps Order CAC, FIRS To Supply Details Of N18Bn Bush-Clearing Firms

Nigeria’s House of Representatives Committee on Public Accounts has ordered the Corporate Affairs Commission (CAC) and the Federal Inland Revenue Service (FIRS) to provide the details of the companies  involved in the N18 billion bush-clearing contracts of the Federal Ministry of Agriculture and Rural Development (FMARD). The committee’s chairman, Hon. Oluwole Oke, gave the directive […]

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FIRS Alerts Public On Recruitment Scam, Threatens Legal Action

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 […]

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Post-VAIDS: JTB, FIRS To Commence Enforcement On Tax Defaulters

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 […]

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Tax Returns: FIRS Extends Filing Deadline For Firms

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 […]