FG To Cut FIRS’ N8.5trn Target   The Federal Government is revising the non-oil revenue projections, including various tax and customs receipts. This means the N8.5trillion target set for the Federal Inland Revenue Service (FIRS) will be slashed at the end of the review. Minister of Finance, Budget...

FIRS Board Sacks Directors     The board of the Federal Inland Revenue Service has approved the retirement of all directors that have served up to eight years in that capacity. The board also approved the appointment of four coordinating directors and two group leads in acting capacity. The...

FIRS Sets April 1 For eVAT Collection For Superstores, Others   The Federal Inland Revenue Service (FIRS) has stated that its Automated Value Added Tax (VAT) collection for branded shops, superstores, general supermarkets, standard restaurants and eateries nationwide will become effective from April 1, 2020. Chairman of...

Fed Govt To Review Tax Exemption For Pioneer Firms   The Federal Inland Revenue Service has accused some multinationals operating in Nigeria of not paying the required tax to government by lying on their pioneer status to get tax exemption for five years instead of the...

Auditor General, ICPC To Probe Revenue Leakages In FIRS   The Office of the Auditor General for the Federation and the Independent Corrupt Practices and Other Related Offences Commission will jointly audit the revenue generating agencies including the Federal Inland Revenue Service. The move is aimed at...

FIRS Targets N4trn Tax From Oil, Gas Companies   The Federal Inland Revenue Service (FIRS) expects to rake in N4 trillion as tax revenue from the extractive sector of the Nigerian economy in the 2020 fiscal year. A statement from the agency said the Executive Chairman of...