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Tax Matters

Firms Owed Govt N260b in Taxes

The Federal Government is owed a colossal sum of over N260 billion and over $260 million in Withholding Tax (WHT), Pay As You Earn (PAYE) and Value Added Tax (VAT) by companies, institutions, and ministries, departments and agencies ( MDA s), the Finance Minister...

Tax Identification Number to Reduce Tax Evasion

- FIRS Boss The adoption of a national Taxpayer Identification Number, TIN and information exchange amongst states will reduce tax evasion and lead to a growth in Internally Generated Revenue, IGR, Chairman of the Federal Inland Revenue Service, FIRS Mrs. Ifueko Omoigui Okauru...

Revenue Agencies to Make Full Disclosure- Finance Minister

The Federal Government has declared that the Revenue Generating Agencies would be compelled to make full disclosure on their revenue generation in an effort to ensure openness and transparency in their operations. The Finance Minister, Dr. Mansur Muhtar who disclosed this at the...

FIRS Delists 2 Banks over Non-Remittance of Tax

The Federal Inland Revenue Service has delisted two banks from the list of collecting banks on account of tax fraud Executive chairman of FIRS, Mrs Ifueko Omoigui-Okauru disclosed this in Abuja at a workshop on E- payment of Taxes and rendition of...

FIRS Boss Advises Graduates on Self-reliant

…. Bags honourary doctorate degree from Benson Idahosa University  The Executive Chairman Federal Inland Revenue Service (FIRS), Mrs Ifueko Omoigui Okauru has advised Nigerian graduates to use their potentials and skills acquired in schools to create job for themselves as there are...

Church and Mosque Not Exempted from Tax – FIRS

… Use of Consultants for Tax Collection is an Aberration The Federal Inland Revenue Service has insisted that churches and mosques are not exempted from tax payment because the constitution says every citizen must pay tax irrespective of where he or she works just...