A taxpayer, Chief Godwin Obla, has described the invitation sent to him by the Economic and Financial Crimes Commission (EFCC) over alleged tax default as unlawful. Obla, who is a Senior Advocate of Nigeria (SAN), had in a letter dated October 2, 2018 sent by his legal counsel, Dr Joshua Musa (SAN), to the EFCC […]
The Federal Inland Revenue Service (FIRS) at the weekend disclosed that it had recovered N12.66 billion in tax arrears from scores of billionaires who, before a threat by it, had failed to fulfil their tax payment obligations to government. The recovery came barely a month after the revenue agency commenced its substitution of accounts of […]
In furtherance of its sustained efforts to make the nation’s tax system more investment-friendly, the Joint Tax Board (JTB) has urged local governments to ensure that the incidence of multiple taxation is curbed at sub-national level nationwide. The Board, which is the umbrella body for all tax authorities in the country, gave the renewed advice […]
The Federal Inland Revenue Service (FIRS) on Thursday hinted that it would soon commence the review of all tax laws in the country in order to simplify the legislations and achieve a high degree of voluntary compliance by taxpayers. This is even as it confirmed that a national taxpayers database had been created under the […]
The Lagos Chamber of Commerce and Industry (LCCI) has described the new tax revenue recovery strategy being adopted by the Federal Inland Revenue Service (FIRS) to boost collections as not supportive to productive activities in the country. Specifically, the Director-General of LCCI, Mr. Muda Yusuf, who expressed the organized private sector (OPS) group’s position on […]
The Federal Government received $2.68 billion, about N817.4 billion, from Total, Chevron and China National Offshore Oil Company, CNOOC, in 2017 as taxes and other fees paid by the International Oil Companies (IOCs) for their operations. Documents obtained from the Canadian government indicated that these figures were provided by the IOCs under Canada’s extractive industry […]
The Minister of Finance, Mrs. Kemi Adeosun, on Wednesday mulled the idea that new targets should be set for Chief Executive Officers (CEOs) of federal revenue agencies and that performance should be used as a criterion to guarantee their tenures. The minister proposed this at the launch of the template for calculating operating surplus by […]
The Federal Inland Revenue Service (FIRS) today disclosed that it generated a total of N2, 529,615,174,601.25 from various taxes from January to June this year. A statement issued by the Director, Information of the Federal Ministry of Finance, Mr. Hassan Dodo, indicated that the amount represented 75 percent of the target set for the Service this year […]
The Federal Inland Revenue Service (FIRS) on Tuesday indicated plans to deploy necessary technology for the implementation of Common Reporting Standards’ (CRS). The move, which is in line with the Multilateral Competent Authority Agreement (MCAA) on the common reporting standards (CRS) signed by the Federal Government, will allow the Nigerian government to automatically receive information […]
The Federal Government today ordered all Ministries, Departments and Agencies of government (MDAs) and the Federal Inland Revenue Service (FIRS) to ensure that all Tax Clearance Certificates (TCCs) presented by companies and individuals engaged in public procurement processes were authenticated before making payments to them. The directive is in response to the proliferation of forged […]