The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler, on Wednesday disclosed that the revenue agency had generated N5 trillion as at the second week of December 2018. Fowler who gave this hint in a statement projected that the Service would have raised its revenue collections to about N5.3 trillion. He […]
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler on Monday hinted that country’s taxpayer roll would soon rise to 33 million. Fowler, who is also the Chairman of Joint Tax Board (JTB) made this disclosure at the opening session of the 142nd meeting of the JTB on Monday in Bauchi. According to […]
The Federal Inland Revenue Service (FIRS) on Friday reported that it collected N4.3 trillion as tax revenue in the 10-month period ended October 31 this year. The Executive Chairman of the federal revenue agency, Mr.Babatunde Fowler, gave this hint during his speech at the FIRS’ Special Day at the ongoing Lagos International Trade Fair in […]
The Federal Inland Revenue Service (FIRS) has issued a Public Notice that provides additional information on its recently published Income Tax Transfer Pricing (TP) Regulations 2018. In addition, the agency issued also an Information Circular No: 2018/03 (the Circular) with specific guidelines on TP documentation requirements in Nigeria to guide all relevant stakeholders in their […]
The Chairman, Federal Inland Revenue Service, Mr. Tunde Fowler, on Thursday disclosed that the Federal Government collected N3.9 trillion non-oil tax revenue between January and September this year, representing about N1 trillion higher than the N2.9 trillion collections in the corresponding period of last year. Fowler made this disclosure in his presentation at the meeting […]
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), has threatened to santion at least 6,772 of defaulting billionaire taxpayers for their failure to pay due taxes on earned incomes. The FIRS Chairman, Babatunde Fowler, who indicated the Service’s intention to sanction the affected tax evaders, said that discoveries in their tax default were uncovered through information sourced […]
The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, on Thursday disclosed that the Federal Government collected N3.5 trillion from various taxes in the first eight months of this year. This revenue represented N1 trillion above the total collections of N2.5 trillion generated in the corresponding period of last year Fowler disclosed this […]
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 […]