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 cent in the first quarter of the year, a report by the National Bureau of Statistics has shown. The CIT is...

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 and businesses in Nigeria to lack of accountability and transparency in the expenditure of tax money by tiers of government. Making...

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 quarter of 2021 from the N454.69bn realised in the fourth quarter of 2020, according to the National Bureau of Statistics...

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 in a statement in Abuja, Wednesday, that the move was being considered, “following rising cases of willful and illegal withholding...

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 its operational result in the first quarter of 2021, the company said yesterday. In a statement, the cement manufacturer cited its...

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 capital investment of N99.45 billion in the first quarter of 2021. NIPC’s Head of Incentives Administration Division, Uchenna Okonkwo, who stated...