Tax Matters

Dangote Cement To Pay N40bn Tax In Q1, 2021       Dangote Cement Plc is expected to pay N40.39 billion in taxation to the nation’s treasury from...

NIPC Grants Tax Relief To 17 Firms       The Nigeria Investment Promotion Commission (NIPC) has granted Pioneer Status Incentive (PSI) to 17 companies with a total...

FIRS Grants Dangote Cement N22.32bn Tax Credit       The Federal Inland Revenue Service (FIRS) has issued Dangote Cement Plc, tax credit certificates valued at N22.321 billion. The...

FIRS To Access Computers, PoS Of Taxable Persons, Firms       The Federal Inland Revenue Service (FIRS) has said it will soon begin to access computers and...

LIRS Extends Deadline For Individual Annual Tax Returns’ Filling       Lagos State Internal Revenue Service has extended the deadline for filing of individual annual tax returns...

Reps Summon FIRS Boss, Query Tax Waiver For P&G       The House of Representatives’ Committee on Public Accounts has invited the Chairman of Federal Inland Revenue...

Company Income Tax Decline By N120.29bn       Total revenue from Company Income Tax dropped by N120.29bn in the fourth quarter of 2020. The National Bureau of Statistics...

Fed Govt Earned N454.69bn From VAT In Q4, 2020         The Federal Government generated N454.69bn from Value Added Tax in the fourth quarter of 2020. The National...

Nigeria Lost $178bn To Tax Evasion By Multinationals - FIRS         The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, yesterday said the country...

FIRS creates 35 audit units to Tackle illicit financial flows In a bid to stem the tide of illicit financial flows out of Nigeria and...

Agric-Based SMEs To Get 6 Years Tax Holiday         West Africa Tax leader and member of PwC Global Board for Leadership Development, Mr Taiwo Oyedele, has...

Fed Govt Removes VAT From Airfares, Aviation Services         About three years after a similar order, the Federal Government has again suspended the deduction of 7.5...

Fed Govt Records 17.3% Shortfall In Companies’ Income Tax         Against the backdrop of pressures on the Federal Government’s finances and 2020 budget revenue estimates, an...

FIRS Remits N251bn Education Tax In Ten Months - TETFund         The Federal Inland Revenue Service (FIRS) collected N251 billion education tax in the first 10...

CITN Seeks Holistic Review Of Tax Incentives         The Institute of Taxation of Nigeria (CITN) has called for a more holistic review of the country’s tax...

Fed Govt Waives N1.3trn In Import Duty, VAT         The Federal Government yesterday, said it has waived import duty and Value Added Tax, VAT, valued at...

House To Probe Dormant VAT Waiver For Airlines       The House of Representatives is to probe the non-implementation of waiver of the payment of Value Added...

Company Income Tax Revenue Hits N416.01bn In Q3 - NBS         Revenue from Company Income Tax rose slightly to N416.01bn as of the end of the...

Senate Seeks Zero Duty On Aircraft Importation, Spare Parts         The Senate at plenary on Tuesday called on the Federal Government to fully implement the Executive...

Income Tax Revenue Lags Behind Fed Govt Projections         Amidst various pressures on the Federal Government’s finances and 2020 budget’s revenue estimates, an indication has emerged...