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Wednesday, September 20, 2017

FIRS Eyes N1.8trn Revenue from VAT

The Federal Inland Revenue Service (FIRS) is targeting N1.8 trillion Value Added Tax (VAT) collection for the 2017 fiscal year. Its Executive Chairman, Tunde Fowler,...

FG Eyes $1b from New Tax Reform- Adeosun

Finance Minister Mrs Kemi Adeosun has said the Federal Government planned to raise over $1billion from the executive order signed by Acting President Yemi...

Technology Will Enhance Tax Compliance- Adeosun

The Federal Government will deploy and heavily rely on technology to increase tax compliance under the recently launched Voluntary Asset and Income Declaration Scheme...

Osinbajo Issues 9 months grace period to tax evaders

Acting President, Yemi Osinbajo has issued nine months grace period to tax payers to regularise their tax status or face criminal prosecution for tax...

Nigeria hires foreign investigators to trace illicit funds

The Federal Government has hired a leading global investigation agency to trace destinations of illicit funds emanating from Nigeria. The Minister of Finance, Mrs. Kemi...
CBN Governor

Investor, Exporter Forex Window Hits $2.2b

The Central Bank of Nigeria has said that dollar inflows into the economy through the newly introduced Investor and Exporter (I&E) Forex Window have...
Nigeria Customs Service

NCS Records N136bn Revenue from Apapa  

The Nigeria Customs Service (NCS) has recorded about N136.6 billion revenue, with the large haul coming from the Apapa Command which intercepted among other...
NBS National Bureau of Statistics

VAT Revenue Decreases to N204.7bn- NBS

The Government's revenue through Value Added Tax (VAT) had decreased from N207.35 billion in the fourth quarter of 2016 to N204.77 billion in the...

FIRS Generates N778bn in Q1 2017

The Federal Inland Revenue Service (FIRS) has said that it generated N778.19 billion revenue in the first quarter of 2017. This is according to a...

Nigeria’s Tax to GDP Ratio Unacceptably Low – Adeosun

The Minister of Finance, Mrs. Kemi Adeosun, has said that the nation’s tax to Gross Domestic Product ratio, which is currently put at six...
IMF

Adeosun Engages G24 on Tax Revenue, Inclusive Growth

Finance Minister Kemi Adeosun, met with fellow Finance Ministers at a meeting convened by the G24 Group to discuss strategies to drive non-oil revenue...

IMF: Nigeria Spends 66% of Tax Revenues on Debt Servicing

The International Monetary Fund (IMF) says 66 percent of Nigeria’s tax revenues is spent on servicing debts, calling on the country to raise taxes. Speaking...

FIRS to introduce electronic tax clearance certificate

The Federal Inland Revenue Service says it will soon introduce electronic Tax Clearance Certificate (TCC) system to help reduce fraudulent certificates. Mr Kola Okunola, Director...

Interest Waiver/Penalty: FIRS Realized N27bn in 3 Years

The Federal Inland Revenue Service (FIRS) has realized the sum of N27 billion between 2013 and 2015 as part of efforts to promote voluntary...
Kemi Adeosun Finance Minister

Tackling fiscal deficit through effective tax system

Amidst declining revenue from oil, low tax to Gross Domestic Product ratio and a rapidly changing commercial environment, IFEANYI ONUBA examines what impact the...

Fowler to Ahmed- ‘Tell Your Colleagues to Give Autonomy to State Tax Authorities’

…-Kwara IGR to is N17 billion in 2016 Chairman of the Joint Tax Board (JTB), Mr. Tunde Fowler placed a call to the Kwara State...

FG to Review 28 Tax Items

The Federal Government is to carry out about 28 major reviews and amendment to the current tax laws and regulations to ensure a smooth...

FG Targets N21tn Revenue from Agriculture

The Federal Government has said it will raise the contribution of agriculture to the nation’s Gross Domestic Product by N5tn before 2020. It stated that...
Nigeria Customs Service

Senate Warns Customs: Dont Collect Duties on Old Vehicles

The Senate of the Federal Republic of Nigeria has warned the Nigerian Customs Service (NCS) from collecting duties on old vehicles. In its resolution, the...

FIRS Nets N27.086 bn From Tax Waiver Programme

…Registers 814, 000 taxpayers in 2016 The Executive Chairman, Federal Inland Revenue Service (FIRS), Tunde Fowler, has said that the agency realised the sum of...

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