IOC Taxes Dip By N16.46bn Amid Production Cuts     The tax revenue accruing to the Federal Government from Production Sharing Contracts with international oil companies operating in the country fell by $45.72m (N16.46bn) in May. The tax lifted as oil by the Nigerian National Petroleum Corporation on...

Customs Wants Tax Waivers Removed On Coca-Cola, Others     The Nigerian Customs Service (NCS) has called for the removal of tax waivers granted to companies producing carbonated drinks. The Comptroller General of Customs, Col. Hameed Ali (rtd), made the call yesterday at the Senate Joint Committee on...

Lagos Begins Tax , Regulation For Ride-Sharing Firms Aug 27     Ride-sharing companies like Uber Technologies Inc. and Bolt that operate in Nigeria’s commercial capital of Lagos will have to pay licensing, renewal and service fees under regulations set to take effect later this month. Effective Aug....

Taxes Contributed N500bn To Revenue In June – FIRS     The Federal Inland Revenue Service (FIRS) has said tax revenues contributed at least N500bn to the N696 billion revenue that the three tiers of government shared in June 2020. The Executive Chairman, FIRS, Mr. Muhammad Nami, who...

COVID-19 Affecting Nigerians’ Ability To Pay Taxes – Osinbajo   Vice-President Yemi Osinbajo on Sunday lamented the negative impact of the COVID-19 pandemic on the nation’s economy, saying only a few Nigerians can now afford to pay taxes. Osinbajo said this in a message he sent to...

Taxation is  new normal – FIRS Webinar Nigerians should accept the fact that the country can no longer rely solely on revenue accruing from its natural resources to fund the budget, hence the need to embrace taxation as the new normal of national fiscal policy. Panelists...