The Arewa Youth Forum (AYF) on Monday commended the Executive Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, for what they called “unprecedented record in the history of tax administration in FIRS and in Nigeria”. Members of the National Executive Council of the group, who paid a courtesy visit to FIRS headquarters in […]
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has told federal legislators that the tax collection agency generated about N4.012 trillion from January-September this year, representing 60.77 percent of the N8.8 trillion target this year. Fowler made the disclosure when he appeared before the Senate Committee on Appropriations that the […]
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Tunde Fowler, has said that Nigeria loses about $15 billion dollars to tax evasion annually. Fowler, who gave this figure at a meeting of tax experts in Abuja organized to chart ways to combat offshore tax evasion through exchange of information regime, said that […]
The Federal Government on Thursday hinted of plans to extend tax drives to cover carbonated (soft) drinks with a view to using collections from the items to augment collectible revenues required to fund the budget. The Minister of Finance, Budget and Planning, Mrs. Zainab Ahmed, disclosed this during an interactive session with journalists at the […]
The Executive Chairman of Federal Inland Revenue Service (FIRS), Mr Tunde Fowler has disclosed that the states have recorded a leap in their Internally Generated Revenue (IGR) from N800 billion in in 2016 to N1.16 trillion in 2018, representing 46.11% in four years. This is even as hinted on Thursday that the nation’s tax database […]
The Federal Inland Revenue Service (FIRS) has reported that 23,141 tax defaulters were owing currently N254 billion in tax liabilities. This is even as the Service disclosed that since the commencement of its tax substitution programme for banks, it had recovered over N97.7 billion from tax defaulters. Giving these hints at the 49th Annual Accountant […]
The Federal Inland Revenue Service (FIRS) and the National Lottery Regulatory Commission (NLRC) have initiated processes for the automation of Value Added Tax (VAT) collection in the lottery and gaming businesses in the country. The Head, Communications and Servicom Department of FIRS, Wahab Gbadamosi, in a statement quoted the Executive Chairman, Tunde Fowler, as making […]
The Federal Inland Revenue Service (FIRS) has projected that it would rake in about N750 billion from about 55,000 millionaire tax debtors in the current fiscal year. The Executive Chairman of the revenue agency, Mr Tunde Fowler, made this forecast on Tuesday while addressing the House of Representatives joint committees on Finance, Appropriations, Aid, Loans […]
The Federal Inland Revenue Service has recovered over N33 billion from defaulting corporate entities that failed to remit their withholding tax (WHT) and Value Added Tax (VAT) collections from tax-paying customers. The Executive Chairman of the federal tax administration agency, Mr Babautnde Fowler, gave this hint when he met with manufacturers on the VAT and […]
The Federal Inland Revenue Service (FIRS) at the weekend ordered banks in the country to lift its earlier imposed lien on tax defaulters’ bank accounts, saying the measure will enable the banks to contact the affected customers for regularisation of their tax positions. The federal tax administration agency gave the directive in a letter dated […]