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Tuesday, March 31, 2020

Fed Govt To Review Tax Exemption For Pioneer Firms

Fed Govt To Review Tax Exemption For Pioneer Firms   The Federal Inland Revenue Service has accused some multinationals operating in Nigeria of not paying the...

FIRS Moves to block PAYE tax leaks in MDAs

FIRS Moves to block PAYE tax leaks in MDAs The Federal Inland Revenue Service (FIRS) is working closely with Ministries, Departments and Agencies (MDAs) to...

FIRS Targets N4trn Tax From Oil, Gas Companies

FIRS Targets N4trn Tax From Oil, Gas Companies   The Federal Inland Revenue Service (FIRS) expects to rake in N4 trillion as tax revenue from the...

Tax Tribunal orders ECO Bank to pay N1.6 billion to FIRS

Tax Tribunal orders ECO Bank to pay N1.6 billion to FIRS The Tax Appeal Tribunal, Lagos Zone has declared as illegal, null and void the...

FIRS Sets April 12 Deadline For Taxpayers To Get TIN

FIRS Sets April 12 Deadline For Taxpayers To Get TIN   The Federal Inland Revenue Service (FIRS) has again said it is mandatory for all taxpayers...

Tax Evasion: Lagos Tribunal Orders Firm To Pay FIRS N1.7bn

Tax Evasion: Lagos Tribunal Orders Firm To Pay FIRS N1.7bn   The Tax Appeal Tribunal, Lagos Zone, has ruled as lawful an assessment in additional tax...

FIRS To Defaulters: Pay Up Or Risk Being Sanctioned

FIRS To Defaulters: Pay Up Or Risk Being Sanctioned   The Federal Inland Revenue Service has warned those in default of taxes to pay up or...

FIRS Targets 17% Tax To GDP Ratio By 2023

FIRS Targets 17% Tax To GDP Ratio By 2023   The Federal Inland Revenue Service has said that it will raise Nigeria’s tax ratio to Gross...

FIRS Explains failure to meet tax target

FIRS Explains failure to meet tax target  Non-discretionary tax waiver grants, illicit financial flows abroad and high overhead costs have been adduced as major reasons...

Tax Evasion: FIRS launches intelligence system

Tax Evasion: FIRS launches intelligence system The Federal Inland Revenue Service (FIRS) has launched a national intelligence gathering system to gather data and track all...

Finance Act: Elites to pay more as FIRS Eyes fair tax regime

Finance Act: Elites to pay more as FIRS Eyes fair tax regime Nigeria stands at the threshold of a new, transparent, accountable and fair...

FIRS Moves to block $10 billion tax leak by multinationals

FIRS Moves to block $10 billion tax leak by multinationals Nigeria is losing about $10 billion of tax through illicit profit shifting by multinational corporations...

New VAT: Stakeholders Demand Exemption, Waivers, Infrastructure

New VAT: Stakeholders Demand Exemption, Waivers, Infrastructure   Following the decision of the Federal Government to begin implementation of increased VAT regime of 7.5 per cent,...

TAX: Chinese Firm, WEMPCO, Grounded Over N200m Debt

TAX: Chinese Firm, WEMPCO, Grounded Over N200m Debt   The placement of a lien on the accounts of a Chinese firm, Western Metal Products Company, popularly...

KADIRS Shut Banks Over N294.85m Taxes

KADIRS Shut Banks Over N294.85m Taxes   The Kaduna State Internal Revenue Service (KADIRS) on Tuesday sealed off the First City Monument Bank and Keystone Bank...

In Nine Months, 13 Banks Pay N136.84bn Tax

In Nine Months, 13 Banks Pay N136.84bn Tax   Thirteen commercial banks listed on the Nigerian Stock Exchange paid N136.84bn in taxes to the Federal Inland...

Firms Earning Below N25m ‘ll Not Pay Companies Tax – Minister

Firms Earning Below N25m 'll Not Pay Companies Tax - Minister   The Finance Bill 2019, when signed into law, will ensure that small businesses with...

FIRS Gives One Month Notice to Ease TCC Issuance

FIRS Gives One Month Notice to Ease TCC Issuance ..announces new TCC regime Executive Chairman Federal Inland Revenue Service(FIRS), Muhammad Nami, has offered a 30- day...

TAX: Kano Seals 3 Zenith Bank Branches Over N423m Debt

TAX: Kano Seals 3 Zenith Bank Branches Over N423m Debt   The Kano State Internal Revenue Services (KIRS) on Monday sealed three branches of Zenith bank...

FIRS Gives 7-day Notice To Tax Defaulters

FIRS Gives 7-day Notice To Tax Defaulters   The Federal Inland Revenue Service has given a seven-day notice to tax defaulters, with a warning that it...