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South Africa May Revise Tax Targets Upward For Budget Efficiency

There are strong indications that South Africa may be compelled to revise its tax targets upwards as experts foresee the country’s budget shortfall accentuating for a second consecutive year. According to the median estimate of 13 economists in a Bloomberg Survey , South Africa’s budget deficit is projected to reach 11% of gross domestic product […]

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How Finance Act 2020 Tax Exemptions Can Benefit Nigeria – CSEA

The Centre for the Study of Economies of Africa (CSEA), a leading economic research organization, has listed some steps for government to take in order to translate the humongous tax incentives provided in the Finance Act 2020 for businesses to national economic benefits. Researchers at the Centre, in the just published Nigeria Economic Update 1 […]

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How To Enhance Nigeria’s Fiscal System, Revenue Accruals – Adesina

The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has charted a multi-pronged approach to Nigeria’s fiscal efficiency, particularly on the tax collection component, as a strategic step towards growing non-oil tax revenue for the country’s sustainable development. The development finance expert listed the several fiscal measures requiring urgent adoption by the government […]

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Buhari Orders MDAs, OPS To Grant FIRS Access For Tax Assessment

President Muhammadu Buhari on Thursday directed ministries, departments, agencies (MDAs) and businesses to grant access to the Federal Inland Revenue Service (FIRS) to their systems for the purposes of tax collection nationwide. President Buhari issued the mandate on Thursday while delivering his address as the Special Guest of Honour at the First Annual National Tax […]

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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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FIRS Generates N4.178Trn In 10 Months, Lauds Taxpayers

The Federal Inland Revenue Service (FIRS) has reported the sum of N4,178 trillion as its total revenue generated from January to the end of October 2020, representing 99 percent of its N4.23 trillion set target for the period. The Executive Chairman of the Service, Muhammad Nami, who made this disclosure in his goodwill message delivered […]

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Corruption: Lawan Advocates Adoption Of Technology In Revenue Collection

President of the Senate, Ahmad Lawan, has advised the Federal Government to explore the use of relevant technology for the purpose of revenue collection by its agencies, so as to prevent the diversion of public funds into private pockets. This was even as he pledged that National Assembly will expeditiously consider the Chartered Institute of […]

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African Oil Producing Countries Require Right Fiscal Regimes for Growth – Ayuk

As the international oil market’s volatility continues unabated following the lingering COVID-19 pandemic, Nigeria and other oil producing countries in Africa have been advised to develop fiscal regimes that ensure fair treatment for the state without burdening companies with unreasonable obligations on top of their project risks, local content requirements, and the expenses associated with […]

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CSEA Analysts Advocate Fiscal Buffers To Boost Foreign Reserves

As Nigeria’s economy continues to be hampered by the COVID-19 impact with the #EndSars protests worsening its productivity prospects in recent weeks, analysts at the Centre for the Study of The Economies of Africa (CSEA) have advised the fiscal authorities to build fiscal buffers to reverse the nation’s worrisome current account balance and stall further […]

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France Wants EU To Push Ahead With Digital Tax Agenda

The French Finance Minister, Bruno Le Maire, on Friday expressed his country’s support for the European Union’s (EU’s) own digital tax in the first quarter of 2021 if broader efforts to find an international solution failed to translate into concrete results this year. A news report sourced from Reuters quoted the minister as saying that […]