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Tuesday, March 2, 2021

FIRS creates 35 audit units to Tackle illicit financial flows

FIRS creates 35 audit units to Tackle illicit financial flows In a bid to stem the tide of illicit financial flows out of Nigeria and...

Agric-Based SMEs To Get 6 Years Tax Holiday

Agric-Based SMEs To Get 6 Years Tax Holiday         West Africa Tax leader and member of PwC Global Board for Leadership Development, Mr Taiwo Oyedele, has...

Fed Govt Removes VAT From Airfares, Aviation Services

Fed Govt Removes VAT From Airfares, Aviation Services         About three years after a similar order, the Federal Government has again suspended the deduction of 7.5...

Fed Govt Records 17.3% Shortfall In Companies’ Income Tax

Fed Govt Records 17.3% Shortfall In Companies’ Income Tax         Against the backdrop of pressures on the Federal Government’s finances and 2020 budget revenue estimates, an...

FIRS Remits N251bn Education Tax In Ten Months – TETFund

FIRS Remits N251bn Education Tax In Ten Months - TETFund         The Federal Inland Revenue Service (FIRS) collected N251 billion education tax in the first 10...

CITN Seeks Holistic Review Of Tax Incentives

CITN Seeks Holistic Review Of Tax Incentives         The Institute of Taxation of Nigeria (CITN) has called for a more holistic review of the country’s tax...

Fed Govt Waives N1.3trn In Import Duty, VAT

Fed Govt Waives N1.3trn In Import Duty, VAT         The Federal Government yesterday, said it has waived import duty and Value Added Tax, VAT, valued at...

House To Probe Dormant VAT Waiver For Airlines

House To Probe Dormant VAT Waiver For Airlines       The House of Representatives is to probe the non-implementation of waiver of the payment of Value Added...

Company Income Tax Revenue Hits N416.01bn In Q3 – NBS

Company Income Tax Revenue Hits N416.01bn In Q3 - NBS         Revenue from Company Income Tax rose slightly to N416.01bn as of the end of the...

Senate Seeks Zero Duty On Aircraft Importation, Spare Parts

Senate Seeks Zero Duty On Aircraft Importation, Spare Parts         The Senate at plenary on Tuesday called on the Federal Government to fully implement the Executive...

Income Tax Revenue Lags Behind Fed Govt Projections

Income Tax Revenue Lags Behind Fed Govt Projections         Amidst various pressures on the Federal Government’s finances and 2020 budget’s revenue estimates, an indication has emerged...

Fed Govt May Reduce Minimum Tax Rate Next Year

Fed Govt May Reduce Minimum Tax Rate Next Year       The draft Finance Bill 2020 contains a proposal for the reduction of the minimum tax rate...

Fed Govt Considers Another Tax Exemption For Small Businesses

Fed Govt Considers Another Tax Exemption For Small Businesses       The exemption of small businesses from the payment of tertiary education tax has been proposed in...

Nigeria Generated N424bn VAT In Q3, 2020 – NBS

Nigeria Generated N424bn VAT In Q3, 2020 – NBS       The National Bureau of Statistics on Monday said N424.71bn was generated as VAT in the third...

FG Considers Tax Holiday For Maritime Sector

FG Considers Tax Holiday For Maritime Sector       The Federal Ministry of Transportation is seeking a package of tax incentives to stimulate investment and boost activities...

FIRS Launches Online Portal On Income Tax

FIRS Launches Online Portal On Income Tax     The Federal Inland Revenue Service (FIRS) has launched the Automatic Exchange of Information-Common Reporting Standard (AEOI-CRS) system for...

IOC Taxes Dip By N16.46bn Amid Production Cuts

IOC Taxes Dip By N16.46bn Amid Production Cuts     The tax revenue accruing to the Federal Government from Production Sharing Contracts with international oil companies operating...

Customs Wants Tax Waivers Removed On Coca-Cola, Others

Customs Wants Tax Waivers Removed On Coca-Cola, Others     The Nigerian Customs Service (NCS) has called for the removal of tax waivers granted to companies producing...

Lagos Begins Tax , Regulation For Ride-Sharing Firms Aug 27

Lagos Begins Tax , Regulation For Ride-Sharing Firms Aug 27     Ride-sharing companies like Uber Technologies Inc. and Bolt that operate in Nigeria’s commercial capital of...

Taxes Contributed N500bn To Revenue In June – FIRS

Taxes Contributed N500bn To Revenue In June – FIRS     The Federal Inland Revenue Service (FIRS) has said tax revenues contributed at least N500bn to the...