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…
The Federal Ministry of Transportation is proposing tax incentives for the maritime industry to stimulate investment and boost activities, amid downturn caused by COVID-19 pandemic. The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh, disclosed this in a statement in Lagos on Wednesday. Jamoh who conveyed the ministry’s position to Read More…
Picture above credit: The Marina Stretch in Lagos island has some of the tallest buildings in Nigeria, one of which is the Union Bank building shown in the photo. Photography: Bobby Azuka-Okocha/9mobile The Federal Inland Revenue Service (FIRS) has published detailed information to guide taxpayers and the general public on rates payable as stamp duty. Read More…
