The National Industrial Court, Abuja Division, has restrained the Nigeria Civil Service Union (NCSU) from picketing the offices of the Federal Inland Revenue Service (FIRS), nationwide. A statement issued by the Director, Communications and Liaison Department, FIRS, Dr. Abdullahi Ahmad, indicated that the court order of interim injunction was given by Justice Olufunke Y. Anuwe […]
The Centre for the Study of Economies of Africa (CSEA) has charged the federal and sub-national governments in Nigeria to improve the nation’s business climate as a strategic option of boosting Value Added Tax (VAT) collection and growing key sectors of the economy on a sustainable basis. The leading non-for-profit research think tank gave this […]
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) on Monday disclosed that a total sum of N1.54 trillion was generated by revenue agencies and ministries, departments and agencies (MDAs) into the federation account in the first quarter of this year. A statement by the commission’s Public Relations Officer (PRO), Mr. Nwachukwu Christian, indicated that the […]
The Federal Inland Revenue Service (FIRS) has issued Dangote Cement Plc tax credit certificates valued at N22.321billion. The tax credit certificates are for the construction of Apapa-Oworonshoki-Ojota road in Lagos and the Lokoja-Obajana-Kabba road straddling Kogi and Kwata states. While Julius Berger is handling the construction of these two federal roads, Dangote Cement Plc is […]
The Chairman of the Commission, Prof. Bolaji Owasanoye, has disclosed that in furtherance of its mandate to curb corrupt practices at all levels of governance in Nigeria, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has dragged about 2,000 companies into the country’s tax net. Owasanoye made this disclosure on Tuesday in Abuja […]
The Federal Inland Revenue Service (FIRS) has threatened to sanction five companies for failure to file annual tax returns as and when due. The Service in a statement listed the allegedly erring companies as Blackbit Limited, Pay Day Lotteries Limited, Raytan Limited, New Gate Logistics Limited and Give N Take Lottery Limited. It stated: “The […]
The Chairman of Federal Inland Revenue Service (FIRS), Mallam Mohammed Nami, has projected that that the agency’s total revenue collection in the 2021 fiscal year would hit N5.900 trillion, representing a 16.22 percent increase over last year’s budget target of N5.076 trillion. Nami , while defending the 2021 budget of the agency before the Senate […]
In furtherance of the desire to resolve its tax dispute with the Kaduna State Government amicably, Access Bank Plc has paid the sum of N240 million into the coffers of the state government. The payment by the lender was made known by the bank to the North West Zone of the Tax Appeal Tribunal, holden […]
President Muhammadu Buhari on Thursday directed ministries, departments, agencies (MDAs) and businesses to grant access to the Federal Inland Revenue Service (FIRS) to their systems for the purposes of tax collection nationwide. President Buhari issued the mandate on Thursday while delivering his address as the Special Guest of Honour at the First Annual National Tax […]
….Says Newly Created Audit Units Will Curb Illicit Financial Outflows The Federal Inland Revenue Service (FIRS) on Monday disclosed that Nigeria lost $178 billion (about N5.4 trillion) to tax evasion by multi-nationals in 10 years. To curb such abuses within the fiscal system, the Executive Chairman of the Service, Mr Muhammad Nami, said the Service […]