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...

KADIRS Shut Banks Over N294.85m Taxes   The Kaduna State Internal Revenue Service (KADIRS) on Tuesday sealed off the First City Monument Bank and Keystone Bank in Kaduna metropolitan’s over unpaid tax liabilities and PAYE. The agency sealed two branches of the FCMB at the Kachia road,...

In Nine Months, 13 Banks Pay N136.84bn Tax   Thirteen commercial banks listed on the Nigerian Stock Exchange paid N136.84bn in taxes to the Federal Inland Revenue Service in the nine-month period ended September 30, 2019. Data obtained from the financial statements of banks for the period...

Firms Earning Below N25m 'll Not Pay Companies Tax - Minister   The Finance Bill 2019, when signed into law, will ensure that small businesses with turnover less than N25m will be exempted from Companies Income Tax, the Federal Government has said. Currently, all companies are expected...

FIRS Gives One Month Notice to Ease TCC Issuance ..announces new TCC regime Executive Chairman Federal Inland Revenue Service(FIRS), Muhammad Nami, has offered a 30- day window to enable taxpayers, obtain Tax Clearance Certificate. Nami personally signed the public notice, designed to make things easy for taxpayers. Titled...