CITN Seeks Policy Review to Increase Tax Revenue The Chartered Institute of Taxation of Nigeria has said it is important to conduct a holistic review of the country’s international tax policies to have a framework that will increase tax revenue in the country. This was part...

Banks Demand Tax Clearance Certificate On FX Transactions   The federal and state governments have mandated commercial banks as well as Ministries, Departments and Agencies of Government (MDAs) to henceforth, implement the demand for a valid Tax Clearance Certificate (TCC) as a prerequisite for carrying out...

Top Ten Banks Pay N260.3bn As Income Tax   Ten top commercial banks listed on the Nigerian Exchange Limited have paid N260.3 billion as Company income tax (CIT) in 2022, representing a 28 percent increase over the N203.06 billion they paid in 2021. This was disclosed by...

MAN, Others Reject FG’s Excise Tax Hike   The Organised Private Sector of Nigeria comprising the Manufacturers Association of Nigeria (MAN), the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), the Nigeria Employers’ Consultative Association (NECA), the Nigerian Association of Small Scale Industries...

Fed Govt Dumps 5% Telecom Tax Waiver   The Federal Government is reportedly set to proceed with its implementation of a five per cent excise duty tax on mobile telephone services, fixed telephone, and Internet services. This is despite a recent communication by the Minister of Communications...

NECA Warns FG Against IMF Demand, Rejects Tax Hike   The Nigeria Employers’ Consultative Association (NECA) says the International Monetary Fund (IMF)’s call on the Federal Government to increase taxes in order to reduce borrowing will affect economic growth and worse the country’s plight. The Director General...