Tax Matters

GenCos, DisCos, Others Exempted from Withholding Tax The federal government has categorised all electricity companies, including the Generation and Distribution Companies (GenCos and DisCos), as...

FG Reportedly Considers Suspending Import Levies on Food to Curb Inflation The federal government is considering suspending import duties on staple food, drugs, and other...

Govt Revenue Gets Boost with Indirect Taxes Doubling to N1.4tn Q1 Indirect taxes on Nigerian goods surged by 101.65 per cent to N1.42 trillion in...

Digital Economy: 21 African Countries Enact Tax Laws on Electronic Services - PwC Twenty-one African countries have enacted rules for non-resident suppliers to account for...

ICPC, FIRS Join Forces to Tackle Tax Evasion, Target N1.9trn   The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr. Musa...

States’ Internal Revenue Collection Rises N2trn, Says Adedeji The Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has revealed that states’ Inland...

Tax Crimes Commission Bill Passes Second Reading  The House of Representatives on Wednesday passed a bill seeking the establishment of the National Tax Crimes Commission...

Tax Crimes Commission Bill Passes Second Reading  The House of Representatives on Wednesday passed a bill seeking the establishment of the National Tax Crimes Commission...

Senate to FIRS: Suspend N17trn Tax Waivers   The Senate through its Committee on Finance on Monday frowned at the N17tn loss incurred by the country...

FIRS Suspends Implementation of VAT Guidelines   The Federal Inland Revenue Service (FIRS) has announced the postponement of the implementation guidelines for the value-added tax simplified...

FIRS Grants Waivers on Tax Penalties, Issues Dec 31 Deadline   The Federal Inland Revenue Service (FIRS) has offered a complete waiver on penalties and interests...

FCT Tax Reforms Targets N300bn Annual Revenue   The Federal Capital Territory (FCT) is taking steps towards boosting its revenue streams. Currently, the FCT’s Internally Generated Revenue...

LIRS Shuts 34 Companies Over N356.12m Unremitted Taxes   The Lagos State Internal Revenue Service (LIRS) has closed down 34 corporate organisations for failing to remit...

Tax Exemptions, Waivers to Cost FG N12.4trn in Four Years   A whopping N12.384 trillion will be forgone by the Federal Government as tax waivers, concessions...

FG to Implement Telecoms Tax to Boost Revenue   The Federal Government is set to implement excise duty on telecommunication services to boost its revenue base. It...

IGR: Taxes, MDA's Revenue Rakes in N1.93tn for States in 2022 - NBS The National Bureau of Statistics report shows that the total Internally Generated...

Only 40m Out of 200m Nigerians Pay Tax – RMAFC   Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mohammed Bello Shehu, has revealed that only...

NEITI Knocks NNPCL Over Failed 2.8tn Tax Payment The Nigerian National Petroleum Company Limited did not pay approximately N2.8 trillion in taxes to the Federal...

FG to Cut 83% in Taxes, Levies  The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, has said Nigeria...

Tax Revenue Hits N3.48trn in H1’23 - Report Revenue from Value Added Tax (VAT) and Company Income Tax, CIT, grew Year-on-Year (YoY) by 17 percent...