Senate Summons Emefiele, Ahmed, Others Over Expatriate Tax Evasion     The Senate on Wednesday summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed, and the Governor of the Central Bank of Nigeria, Godwin Emefiele, to brief it on measures to curb tax evasion by...

Reverse VAT To 5%, NECA Urges FG   The Nigeria Employers’ Consultative Association (NECA) has urged the Federal Government to reverse the current Value Added Tax (VAT) from 7.5 per cent to initial five percent. NECA said this should be part of the measures to ameliorate the...

Budget 2020: Low VAT Collections Threaten Revenue Projections     Plans by the fiscal authorities to bridge the 2020 deficit gap partly through the Value Added Tax (VAT) rate hike from 5% to 7.5% this fiscal year may be scuttled by the lingering lockdown occasioned by the...

FIRS Sets June 30 To Resume Field Audit, Investigation Exercises     The Federal Inland Revenue Services (FIRS) has said it will resume audit, investigations and monitoring exercises earlier suspended as part of measures to cushion the effects of Covid-19 pandemic on the 30th June 2020. In a...

Revolutionising Tax For Nigeria’s Sustainable Growth     The Federal Inland Revenue Service (FIRS), is currently implementing small businesses-friendly tax policy that temporary exempts operators with annual turnover of N25 million and below from charging Valued Added Tax (VAT), while deploying technology to ensure continued quality service...

FIRS Gives Deadline On Tax Interests, Penalties Waiver   Federal Inland Revenue Service (FIRS) is to waive interests accruable to debts as well as the related penalties for defaulting taxpayers if they fully settle their indebtedness on or before May 31. FIRS Executive Chairman, Mr. Muhammad Nami,...