FIRS Explains failure to meet tax target  Non-discretionary tax waiver grants, illicit financial flows abroad and high overhead costs have been adduced as major reasons why the Federal Inland Revenue Service (FIRS)had failed to meet its tax revenue targets in recent times. The Executive Chairman FIRS,...

Tax Evasion: FIRS launches intelligence system The Federal Inland Revenue Service (FIRS) has launched a national intelligence gathering system to gather data and track all tax evaders and defaulters, with a view to bringing them all to book and make them pay their fair share...

Finance Act: Elites to pay more as FIRS Eyes fair tax regime Nigeria stands at the threshold of a new, transparent, accountable and fair tax regime in which those who make more from the system pay a more equitable share of their income as...

FIRS Moves to block $10 billion tax leak by multinationals Nigeria is losing about $10 billion of tax through illicit profit shifting by multinational corporations operating in the country, which otherwise would have been applied to critical infrastructure development by the three tiers of government. Executive...

New VAT: Stakeholders Demand Exemption, Waivers, Infrastructure   Following the decision of the Federal Government to begin implementation of increased VAT regime of 7.5 per cent, operators, stakeholders and experts have demanded waivers and exemptions from the government. The stakeholders who spoke to our correspondents in separate...

TAX: Chinese Firm, WEMPCO, Grounded Over N200m Debt   The placement of a lien on the accounts of a Chinese firm, Western Metal Products Company, popularly known as WEMPCO Steel Mill Limited, for non-payment of a N200m tax may have forced the firm into temporary closure. Investigation...