FEC Approves N14.88bn For Construction Of FIRS Office The Federal Executive Council (FEC) has approved a contract for the construction of a new office block and parking lot worth over N14.88 billion for the Federal Inland Revenue Service (FIRS). The Minister of State for Budget and...

FIRS Remits Over N309bn Education Tax To TETFund   The Federal Inland Revenue Service (FIRS) has remitted over N309 billion from education taxation to the Tertiary Education Trust Fund (TETFund). The revenue generated by FIRS from across tertiary education institutions in the country between January and...

Five Percent Telecom Tax: Desperate Revenue Drive or Deliberate Wickedness? By Vivian Abomann Taxation is one of best ways of generating revenue for countries all over world. Over the decades, Nigeria has been struggling to beef up her revenue from taxation but that has proven difficult...

FIRS Demands N1trn Tax Remittance From MDAs   The Federal Inland Revenue Service (FIRS) has written ministries, departments and agencies (MDAs) to refund over N1 trillion in taxes they have failed to remit. A source at the FIRS told The Nation that MDAs are expected to collect...

Nigeria's ECA Shrinks From $35m To $376,655   The Federal Government has drawn down the Excess Crude Account (ECA) to $376,655.09 from $35.377 million in May, this year. This means that in one month the government withdrew $35,000,344.91from the ECA. The ECA is supposed to be a savings...

VAIDS: FIRS, JTB Commence Enforcement On Defaulters   Following the expiration of the amnesty by the Voluntary Assets and Income Declaration Scheme (VAIDS), the Joint Tax Board (JTB), in collaboration with the Federal Inland Revenue Service (FIRS), would commence a “full scale Enforcement Exercise” on defaulting...