Tax Bills not Threat to Govt Agencies – FIRS Zacch Adedeji, Chairman of the Federal Inland Revenue Service, has dismissed concerns that the four tax bills currently before the National Assembly threaten the existence of any government revenue-generating agency or its operations. This was contained in...

Northern Govs Reject Tinubu’s Planned Tax Hike   The 19 state governors in the Northern region have aired their strong displeasure on the recent Tax Reform Bill the Federal Government submitted to the National Assembly for approval. The governors particularly rejected the proposed shift to a Derivation-based...

5% Excise Duty: Telecom Firms Reject Proposed Reintroduction   The Association of Telecommunications Companies of Nigeria, ATCON, has rejected plans by the Federal Government to reintroduce a five percent excise duty on the telecommunications sector, warning that the move could significantly burden the industry. On July 6,...

FG Records Tax Revenue Windfall, Banks’ Tax Rises by 109.6%   There are indications that the Federal Government is having great times in its finances as its revenue from Value Added Tax (VAT) and Company Income Tax (CIT) rose by 85 per cent year-on-year, YoY, to...

FG Plans 25% Tax on Nigerians Earning Above N100m Monthly   The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said that wealthy Nigerians earning N100m and above monthly will face a 25 per cent personal income tax rate if a...

FG Introduces Tax Payment in Instalments The Federal Government has proposed introducing a tax payment option that enables individuals to pay their taxes in instalments. It introduced this in the Nigeria Tax Bill 2024, recently submitted to the National Assembly for consideration and approval. This means that...