FIRS Makes Historic N650bn Tax Haul in June 2021 The Federal Inland Revenue Service has raked in over N650 billion in June 2021, the highest revenue realized in a single month since the COVID-19 pandemic started and the assumption of office of the current management. Executive...

FIRS Pushes Filing period For 2021 Income Tax Returns The Federal Inland Revenue Service (FIRS) has granted a one-off one-month extension for the filing of Company Income Tax returns by taxpayers with December 31, 2020 accounting year-end whose statutory tax returns were due not later...

Tax defaulters to pay 50% of disputed amount into court account before hearing Tax defaulters who plan to institute legal cases against the Federal Inland Revenue Service (FIRS) now have to pay 50% of the assessed amount in dispute into an interest-yielding account of the...

2020 Finance Act Improving Tax Collection – CITN     Newly elected president of the Chartered Institute of Taxation of Nigeria (CITN), Mr. Adesina Adedayo, has lauded the federal government for implementing the tax reforms which he said were recommended by past Study and Working Groups of...

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 Institute of Taxation of Nigeria (CITN) has said that taxation remains one fiscal policy instrument needed for stability, especially in...

Tax Forms 70% Of FAAC Allocations — FIRS Boss       The Executive Chairman of the Federal Inland Revenue Service (FIRS), Alhaji Muhammad Mamman Nami, has said 60 to 70 percent of the funds shared monthly by the Federal Account Allocation Committee (FACC) among the three tiers...