Current Withholding Tax Regime Valid till December – FIRS The Federal Inland Revenue Service (FIRS) has said that the current Withholding Tax regime will remain effective until December 31, 2024. This is according to a public notice informing taxpayers, tax practitioners, and the general public about...

FIRS Partners ACCI to Boost Tax Compliance   The Federal Inland Revenue Service (FIRS) has strengthened its commitment to enhancing tax compliance among Nigerian businesses through a strategic partnership with the Abuja Chamber of Commerce and Industry (ACCI). This collaboration was highlighted during the opening ceremony of...

Revenue Increase, Better Compliance, Others Necessary for Tax Reforms - FIRS The Chairman of the Federal Inland Revenue Service (FIRS), Dr Zaach Adedeji, yesterday explained that Nigeria’s tax system reforms are driven by the need for increased revenue, better compliance, and more equitable economic practices. Adedeji...

Experts Hail FIRS as VAT Hits N1.56trn The Federal Inland Revenue Service(FIRS) has received the commendation of analysts for collecting N1.56trn in its Value Added Tax collections in the second quarter of the year. A report released by the Nigeria Bureau of Statistics on Sunday showed...

Nigeria Generated N1.43trn from VAT in Q1 2024 – NBS The National Bureau of Statistics (NBS) says the country generated N1.56 trillion as value-added tax (VAT) between April and June this year. The figure represents an increase of 9.11 percent when compared to the N1.43 trillion...

Company Income Tax Revenue Surges by 150.83% In Q2 2024 – NBS Nigeria’s Company Income Tax (CIT) surged by 150.83 per cent to N2.47tn in Q2 of 2024. A report by the National Bureau of Statistics (NBS) said the increase was from N984.61bn recorded in Q1...