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U.S Entrepreneurs Oppose Biden’s Tax Hike Plan

President Joe Biden appears to be facing an uphill task in his administration’s efforts to hike tax as part of its fiscal drives to fund multitrillion-dollar infrastructure investments he promised to build in the coming months. The stand-off between the White House and corporate entities is rising as President strikes nearer to clinching congressional approval […]

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Trump Loses Supreme Court Appeal On Tax Returns

The United States Supreme Court declined on Monday President Donald Trump’s appeal to block a New York grand jury from getting his personal and corporate tax returns. The verdict represented the ousted President’s decisive defeat in his prolonged legal battle to keep his tax records out of the hands of investigators. A news report by […]

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N169Mn Tax Debt: Ondo Court Seals off Nigerian Breweries’ Depot

An Ondo State High Court sitting in Akure, has ordered that the Nigerian Breweries (NB) Plc depot in Akure be sealed off pending the payment of the company’s tax liabilities in firm of haulage fees, totaling N169.175 million to the state government. The judge, Justice William Akintoroye, also granted the cross-petition of the state government […]

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Akwa Ibom Threatens To Sanction Oil Firms Over Tax Evasion

Akwa Ibom State Internal Revenue Service (AKIRS) has threatened to sanction oil companies operating in the state over unremitted taxes, saying that such fiscal dereliction by them will no longer be tolerated by the state government. The Chairman of the Service Board, Mr. Okon Okon, cautioned the oil firms against all forms of tax evasion […]

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Nigeria Lost N5.4Trn To Tax Evasion By Multinationals In 10 Years – Nami

….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 […]

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N/Assembly Passes N13.588Trn 2021 Appropriation Bill

The Senate on Monday at its emergency plenary session passed the 2021 Appropriation Bill with a projected N13.588 trillion expenditure for the fiscal year. The passage of the budget in the Senate was sequel to the consideration of a report by the Committee on Appropriations on the 2021 Appropriations bill. In his presentation, Chairman of […]

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Unity Bank, BoI, Others Challenge Revenue Boards’ Tax Assessments At TAT

Unity Bank, Silver Plastics, Bank of Industry (BoI) have challenged the taxes imposed on them by the revenue services in the North-West Zone at Tax Appeal Tribunal (TAT), sitting in Kaduna over alleged errors in the computation of their tax liabilities. Some of the corporate tax payers within the North West Zone, comprising the states […]

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Akwa Ibom Govt Seals GTB Branches Over Alleged Tax Default

Akwa Ibom State Internal Revenue Service, AKIRS, on Monday sealed two branches of Guaranty Trust Bank (GTB) in Uyo, the state capital over alleged tax default estimated at over N184 million. A news report sourced from News Agency of Nigeria (NAN) indicated that branches were sealed on the order by the AKIRS’ Executive Director Enforcement […]

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DPR Launches App To Curb Downstream Sector Frauds

The Department of Petroleum Resources (DPR) has introduced a computer application to monitor how petroleum products in all the filling stations are dispensing products with a view to curbing abuses in the downstream sub-sector. The DPR Zonal Controller, Port Harcourt Zonal Office, Mr. Bassey Nkanga, who unveiled the Downstream Remote Monitoring System (DRMS) app at […]