To prepare tax authorities for the enforcement drive before 2023, the Federal Capital Territory’s Internal Revenue Service (FCT-IRS) has started tax enforcement capacity and simulation training. This was said in a statement made in Abuja by Mr. Mustapha Sumaila, Head of Corporate Communications for the FCT-IRS. According to Sumaila, the training is centred on an Read More…
The Federal Executive Council (FEC) has approved MTN Nigeria PLC, a telecommunications operator, finishing the ongoing Enugu-Onitsha expressway at a cost of N202.8 billion using the Federal Government’s Tax Credit Scheme. This information was provided to the State House reporters by Minister of Works and Housing Babatunde Fashola, Minister of Police Affairs Maigari Dingiyadi, and Read More…
The Lagos State Government on Wednesday said the collection of parking levy by its parking agency was authorised by law. Dr. Frederick Oladeinde, Commissioner for Transportation, disclosed this in Ikeja at a news conference to sensitise stakeholders and the public on the mandates and activities of the Lagos State Parking Authority (LASPA). Oladeinde said that Read More…
Telecommunications companies have advised against the implementation of the 2022 Fiscal Policy Measures and Tariff Amendments, which demands five per cent as excise duty for services provided. They described the tax as insensitive, unfair, and capable of crippling the industry in the way and manner the oil industry has been crippled by different challenges. According Read More…
Enugu, Jan 8, 2022 (NAN) A Development Economist, Dr Chiwuike Uba, has lauded President Muhammadu Buhari for introducing tax on sugar carbonated beverages to check the excessive consumption of such products in the country. Uba, who is the Chairman of Amaka Chiwuike-Uba Foundation (ACUF), gave the commendation on Saturday while giving an economist’s perspective of Read More…
Nigerians will be paying a lot more for their fizzy drinks. This is because there is a new policy on sugar control, and because the Federal Government is increasing its revenue base to include more non-oil products. Mrs Zainab Ahmed, the Nigerian Minister of Finance, Budget and National Planning, said the Federal Government has introduced Read More…
Unless our summations are wrong, the Federal Government may impose a six-per cent tax on turnover of non-resident blue-chip digital companies who sell products to Nigerian residents. These may affect companies such as Alphabet (owners of Google), Apple inc., Meta (owners of Facebook), Twitter, and PayPal who render online services to Nigerian residents. On Wednesday, Read More…
The days of monied magnates moving their cash to obscure destinations to escape taxation are diminishing. This is because a group of 136 countries, with Nigeria abstaining, on Friday set a minimum global tax rate of 15% for big companies. They also sought to make it harder for them to avoid taxation in a landmark Read More…
States, not FIRS, constitutionally entitled to impose taxes enforceable or collectable in their territories The Federal High Court sitting in Port Harcourt has declared that it is the Rivers State Government and not the Federal Inland Revenue Services (FIRS), that should collect Valued Added Tax (VAT) and Personal Income Tax (PIT) in the State. The Read More…
The Federal Inland Revenue Service (FIRS) says it has generated N4.178 trillion revenue in the last 10 months. The Executive Chairman of the service, Mr Muhammad Nami, disclosed this while presenting a report on Internally Generated Revenue (IGR) at the 46th meeting of the Joint Tax Board (JTB) in Abuja on Friday. Nami said what Read More…
