FIRS To Deduct Tax From Defaulters’ Bank Accounts       The Federal Inland Revenue Service (FIRS) has threatened to deduct tax liabilities from defaulters’ bank accounts. It said in a statement in Abuja, Wednesday, that the move was being considered, “following rising cases of willful and illegal withholding...

Reps Increase Customs’ Revenue Target To N1.6trn         The House of Representatives yesterday increased the revenue target of the Nigeria Customs Service (NCS) from N1.4 trillion to N1.6 trillion as expected revenue for the 2021 fiscal year. The House also approved about N257, 183, 671, 694. 71...

Senate Approves N216.646bn FIR's 2021 Budget       The Senate has approved N216, 646, 579, 231.00 as 2021 budget for the Federal Inland Revenue Service (FIRS). The Senate also approved the upward review of the revenue target of FIRS from N5.076 trillion last year to N7.61 trillion this...

FIRS Grants Dangote Cement N22.32bn Tax Credit       The Federal Inland Revenue Service (FIRS) has issued Dangote Cement Plc, tax credit certificates valued at N22.321 billion. The tax credit certificates were for the construction of Apapa-Oworonshoki-Ojota road in Lagos and the Lokoja-Obajana-Kabba road connecting Kogi and Kwara...

FG grants N20bn Tax Waiver to NLNG to Construct Bodo Bonny Bridge. The Federal government has granted Nigeria Liquefied Natural Gas (NLNG) company ₦20 billion tax waiver for the construction of Bodo Bonny Bridge in Rivers State. The Federal Inland Revenue Service (FIRS) presented the road...

FIRS To Access Computers, PoS Of Taxable Persons, Firms       The Federal Inland Revenue Service (FIRS) has said it will soon begin to access computers and electronic storages belonging to taxable individuals through its Automated Tax Administration Solution. According to an advertorial yesterday signed by the Executive...