Seplat Petroleum Development Company Plc, a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE), has announced $152.4 million in revenue in the first quarter this year, representing 16.8 percent increase over the earnings in the corresponding period of year 2020. The company also reported […]
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 […]
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 […]
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 […]
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 […]
….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 […]
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 […]
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 […]
The Federation Accounts Allocation Committee (FAAC), on Wednesday after the end of its meeting chaired by the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Alhaji Aliyu Ahmed, disclosed that the three tiers of government shared a total sum of N601.110 billion from the federation account revenue accruals in November, 2020. Out of […]
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 […]