FIRS offers concession to foreign currency tax debtors With effect from 1st of March to 31st March, 2022, taxpayers with pending foreign currency tax liabilities will be able to settle these obligations in Naira during the Federal Inland Revenue Service (FIRS) one-month window, Muhammad Nami,...

Senate Proposes Pollution Tax For Illegal Oil Refiners The Senate has called on the Federal Government to sanction security agencies found culpable of vandalising pipeline installations and facilities in the country. This came as it also asked the FG to introduce a pollution tax on those...

LIRS Targets N550bn For Transformation   Lagos State Internal Revenue Service (LIRS) is targeting N550 billion revenue to assist the government to transform the state. Director, Personal Income Tax, LIRS, Ayodele Adebayo, who spoke in Lagos yesterday, noted that there was an increasing population coming into the...

By Kabir Abdulsalam Over the last few years, concerns have been raised by stakeholders that the existing international tax system does not properly capture or take into consideration the digitalization of business transactions. Undoubtedly, the world economies are quickly moving from physical...

FIRS To Tax Profits From Bonds, Securities The Federal Inland Revenue Service (FIRS) has announced that it would tax profits accruing from investments in bonds and short-term government securities by companies which would now be categorised as income tax. This, it said, followed the expiration of...

FIRS Deploys Technology For Tax Collection From Digital Economy   2022: Our Target Is To Achieve 100% Automation Of Tax Administration Processes – FIRS We will give priority to taxation of digital economy … The Federal Inland Revenue Service (FIRS) has stated that it will achieve 100% automation...