Companies, Consumers Taxes Hit N5.3tn – NBS The National Statistics Bureau data shows that consumers of goods and services and companies paid N5.34tn as taxes to the government in 2022. This represents a 42.14 per cent increase from the N3.76tn that was raised in 2021. The...

Indirect Taxes Rise By 18.88% To N3trn – NBS   The indirect tax burden on Nigerians rose by 18.88 per cent to N3.03tn in 2022 amid an economic downturn and rising inflation. According to the National Bureau of Statistics, Nigerians paid N3.03tn as indirect tax in 2022,...

Fed Govt To Grant N5.5trn Tax Waivers In 2023   The Federal Government has budgeted N5.51tn for tax expenditures in 2023. This was according to the 2023 fiscal framework document obtained by our correspondent. According to Tax Foundation, tax expenditures are a departure from the “normal” tax code...

FIRS, LASG Sign MoU to Develop Joint Tax Audit System The Federal Inland Revenue Service and the Lagos State Government have signed a Memorandum of Understanding to create a joint tax audit system to address duplication of measures and enable the exchange of data relevant...

Report Reveals Companies Pay N11.5trn Tax Under Buhari   The Federal Government has raked in N11.5tn from taxes paid by business organisations under the administration of President Muhammadu Buhari. Data sourced from Company Income Tax reports published by the National Bureau of Statistics between 2015 and 2022...

Soludo Suspends Taxes for Heavy-Duty Loading in Anambra The Governor of Anambra State, Prof. Chukwuma Soludo, has suspended tax payments in the transport sector for heavy-duty loading and offloading vehicles. Soludo also approved slashed weekly payments applicable to tricycles (keke), shuttle buses and other transport operators. The...