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Wednesday, October 23, 2019

2020 Budget: 85% VAT Going To States, LGAs – Fashola

2020 Budget: 85% VAT Going To States, LGAs – Fashola   The Minister of Works and Housing, Babatunde Fashola, has said that 85 per cent of...

President Buhari Exempts Firms With N25m Turnover From VAT

President Buhari Exempts Firms With N25m Turnover From VAT   Firms making a turnover of N25 million and below will be exempted from payment of the...

30,000 Firms In Kaduna Fail To Pay Taxes

30,000 Firms In Kaduna Fail To Pay Taxes   THE chairman, Kaduna State Internal Revenue Services, Zaid Abubakar, has said more than 30,000 companies in the...

VAT Collection Still At 0.2%, FG Says

VAT Collection Still At 0.2%, FG Says   Mrs. Zainab S. Ahmed has said the collection of the value added tax (VAT) is still at a...

Tenure: FIRS Boss, Fowler To Know Fate On October 11

Tenure: FIRS Boss, Fowler To Know Fate On October 11   The Federal High Court sitting in Kano has today heard the Originating Summons of a...

FIRS Targets 45m Taxpayers By December, Says Fowler

FIRS Targets 45m Taxpayers By December, Says Fowler   Federal Inland Revenue Service has said that about 45 million Nigerians will be captured as taxpayers before...

Telecom Operators Criticize Proposed Communications Service Tax

Telecom Operators Criticize Proposed Communications Service Tax   Telecommunications operators have condemned the proposed nine per cent communications service tax the 9th National Assembly plans to...

Expert Calls For Simplified Tax System

Expert Calls For Simplified Tax System   The federal and state governments have been advised to address grey arears in the nation’s tax policies in order...

FG Denies Dangote, 14 Others Tax Relief

FG Denies Dangote, 14 Others Tax Relief   The Nigerian Investment Promotion Commission has rejected the application of 15 companies seeking pioneer status under the Industrial...

Investors Seek Tax Removal On Investments To Promote Savings

Investors Seek Tax Removal On Investments To Promote Savings   The prevailing high tax regime in the country has come under fresh criticism, as investors have...

VAT Increase To Generate Extra N479.7bn Revenues

VAT Increase To Generate Extra N479.7bn Revenues   The proposed 7.2 per cent Value Added Tax (VAT) proposal by the Federal Executive Council (FEC) is expected...

VAT Hike Will Kill Businesses, Shrink GDP, Experts Say

VAT Hike Will Kill Businesses, Shrink GDP, Experts Say Experts and groups such as the Nigeria Employers’ Consultative Association have said the recent increase in...

23,141 Tax Defaulters Owe N254bn, Says FIRS

23,141 Tax Defaulters Owe N254bn, Says FIRS   The Federal Inland Revenue Service says a total of 23,141 defaulters owe N254bn in tax liabilities. The service also...

FG Plans Bill To Address Multiple Taxes, Disparity

FG Plans Bill To Address Multiple Taxes, Disparity   The Technical Committee of the National Tax Policy Implementation Committee will soon present a bill to the...

Nigeria Earned N35trn From Tax In 8 Years, Says FIRS

Nigeria Earned N35trn From Tax In 8 Years, Says FIRS   Within an eight-year period covering 2011 and 2018, the country earned a total of N35.56tn...

FIRS Strategies Will Improve Tax Revenue – CITN

FIRS Strategies Will Improve Tax Revenue - CITN   The Chartered Institute of Taxation of Nigeria has expressed confidence that the current strategies and initiatives of...

FIRS Places VAT On Online Transactions From January 2020

FIRS Places VAT On Online Transactions From January 2020   Chairman of the Federal Inland Revenue Service, Babatunde Fowler, on Monday said that Nigerian banks would...

VAT Generates N312bn In 3 Months

VAT Generates N312bn In 3 Months   The Federal Government generated N311.94bn between April and June; statistics provided by the National Bureau of Statistics have shown. In...

IRS Targets N80bn Revenue In FCT

IRS Targets N80bn Revenue In FCT   The Federal Capital Territory’s (FCT) Inland Revenue Service (IRS) is working hard to rake in not less than N80bn...

FIRS Lists Obasanjo Farms, Others Among 1901 Tax Defaulters

FIRS Lists Obasanjo Farms, Others Among 1901 Tax Defaulters   The Federal Inland Revenue Service (FIRS) has published names of businesses that have failed to comply...