VAIDS: FIRS, JTB Commence Enforcement On Defaulters   Following the expiration of the amnesty by the Voluntary Assets and Income Declaration Scheme (VAIDS), the Joint Tax Board (JTB), in collaboration with the Federal Inland Revenue Service (FIRS), would commence a “full scale Enforcement Exercise” on defaulting...

NEPZA, FIRS Sign Pact On Tax Administration In Free Trade Zones   The Nigeria Export Processing Zones Authority (NEPZA) has signed a Memorandum of Understanding (MoU) with the Federal Inland Revenue Service (FIRS) for effective administration of taxes in the free trade zones. Signing the MoU on...

Free Trade Zones Contributes N29bn Tax In 2 Years - NEZA   The Nigeria Economic Zones Association (NEZA) has said the special economic zones in the country are not used for tax evasion but a source of gaining more revenue through custom duties and VAT than...

Tax -  FIRS To Deduct Govts’ Unpaid VAT, WHT From FAAC Account  The Federal Inland Revenue Service (FIRS) has announced that it will begin deducting unremitted Value-Added Tax (VAT) and Withholding Tax (WHT) by states and local governments from the allocations shared monthly by the...

FG Generates N532bn from Company Income Tax In 3 Months - NBS The National Bureau of Statistics tax report has revealed that the federal government generated a sum of N532.48 billion from Company Income Tax (CIT) in the first quarter of 2022. The report shows...

FG: Tax exemptions, Incentives Fail To Stimulate Remittances, Growth The Minister of Finance, Budget and National Planning, Zainab Ahmed, says despite the Federal Government’s efforts to harness the benefits of tax exemptions and concessions, the incentive has rather led to huge revenue loss to the...