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...

NEPZA, FIRS Sign Pact On Tax Administration In Free Trade Zones   The Nigeria Export Processing Zones Authority (NEPZA) has signed a Memorandum of Understanding (MoU) with the Federal Inland Revenue Service (FIRS) for effective administration of taxes in the free trade zones. Signing the MoU on...

Tax -  FIRS To Deduct Govts’ Unpaid VAT, WHT From FAAC Account  The Federal Inland Revenue Service (FIRS) has announced that it will begin deducting unremitted Value-Added Tax (VAT) and Withholding Tax (WHT) by states and local governments from the allocations shared monthly by the...

FIRS Seeks Collaboration Among African Countries On Digital Tax   The Federal Inland Revenue Service (FIRS) has reached out to other African countries to collaborate with it to effectively tax digital businesses. Executive Chairman, FIRS, Muhammad Nami, made the call at a Technical Assistance Programme organised by...

NGX-listed Firms Remit N215.9bn Tax To FIRS, Others In Q1   As a result of their expansion in Nigeria and other African countries, the likes of Dangote Cement Plc, MTN Nigeria Communication, Seplat Energy Plc, Guaranty Trust Holding Company Plc (GTCO) and 20 other companies remitted...

NNPC, FIRS, 2 Others Generate Over N28trn in 3yrs The Federal government of Nigeria between 2017 and 2019 received a credit alert of N28.02 trillion from four agencies. The revenue earned was disclosed by the Nigeria Extractive Industries Transparency Initiative (NEITI) in its Fiscal Allocation and...