Agencies Illegally Took N5.8trn From FG Account – Report     The Nigerian National Petroleum Corporation (NNPC), the Department of Petroleum Resources (DPR) and the Federal Inland Revenue Service (FIRS), have made illegal deductions from the Federation Account estimated at N5.786 trillion between 2014 and 2017, said...

Economy'll Recover In Q1 2021, Says Minister     The Federal Government has predicted that the economy will rebound to positive territory in the first quarter (Q1) of 2021. Minister of Finance, Zainab Ahmed made this prediction when board members of the Federal Inland Revenue Service (FIRS) paid...

FIRS Launches Online Portal On Income Tax     The Federal Inland Revenue Service (FIRS) has launched the Automatic Exchange of Information-Common Reporting Standard (AEOI-CRS) system for financial institutions on administering income tax. The Executive Chairman of FIRS, Mr. Muhammad Nami, disclosed this in Abuja. He said the...

FIRS Targets N446bn From Stamp Duties     Tax payment remains the hardest civic responsibility for most citizens making tax collection challenging for agencies. At this period of economic turmoil triggered by COVID-19 pandemic, collection of taxes have also become more daunting. For instance, the Finance Act...

MTEF: Senate Threatens To Sanction CBN, FIRS, NPA, Others       The Senate Joint Committee on Finance and National Planning on Wednesday threatened to sanction heads of some revenue generating agencies of the Federal Government if they fail to appear before it on Thursday (today). The heads of...

Stamp Duty: Reps Moves To Reconcile NIPOST, FIRS     The House of Representatives, has moved to reconcile the Federal Inland Revenue Service (FIRS) and the Nigerian Postal Services (NIPOST), over stamp duty collection role. The House of Representatives Committee on Finance, on Tuesday held a meeting, chaired...