Tax Matters

CITN Harps On Taxation As Policy Instrument For Economic Stability       Notwithstanding recent efforts by the Federal Government to reposition taxation for revenue increase, the Chartered...

Tax Forms 70% Of FAAC Allocations — FIRS Boss       The Executive Chairman of the Federal Inland Revenue Service (FIRS), Alhaji Muhammad Mamman Nami, has said...

FG Revenue From Drink Makers Rose To N23bn – NBS       The Company Income Tax paid by breweries, bottling and beverages companies rose by 329.48 per...

CITN Decries Corruption In Tax Administration In Nigeria       The Charted Institute of Taxation of Nigeria, CITN, has attributed the low tax culture among taxable adults...

Nigeria Earned N496bn From VAT In Three Months — NBS       The federal government’s Value Added Tax (VAT) collections rose to N496.39 billion in the first...

FIRS To Deduct Tax From Defaulters’ Bank Accounts       The Federal Inland Revenue Service (FIRS) has threatened to deduct tax liabilities from defaulters’ bank accounts. It said...

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...