Reps Summon FIRS Boss, Query Tax Waiver For P&G       The House of Representatives’ Committee on Public Accounts has invited the Chairman of Federal Inland Revenue Service, Mr Muhammad Nami, over a tax clearance certificates issued to Procter and Gamble, a firm based in the United...

Company Income Tax Decline By N120.29bn       Total revenue from Company Income Tax dropped by N120.29bn in the fourth quarter of 2020. The National Bureau of Statistics disclosed this in its report on ‘Company Income Tax by sector’ which was released on Wednesday. Part of the report read,...

Fed Govt Earned N454.69bn From VAT In Q4, 2020         The Federal Government generated N454.69bn from Value Added Tax in the fourth quarter of 2020. The National Bureau of Statistics disclosed this in its report on ‘Sectoral distribution of Value Added Tax’ for fourth quarter of 2020. Part...

Nigeria Lost $178bn To Tax Evasion By Multinationals - FIRS         The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, yesterday said the country lost over $178 billion (about N5.4 trillion) through tax evasion by multinationals doing business in the country between 2007 and...

FIRS creates 35 audit units to Tackle illicit financial flows In a bid to stem the tide of illicit financial flows out of Nigeria and improve tax compliance rate in the country, the Federal Inland Revenue Service (FIRS) created 35 additional Tax Audit Units in...

Agric-Based SMEs To Get 6 Years Tax Holiday         West Africa Tax leader and member of PwC Global Board for Leadership Development, Mr Taiwo Oyedele, has revealed that Small and Medium Enterprises (SMEs) and other small companies in agricultural production may be granted pioneer status for...