Why We Must Address Inherent Injustice in Present VAT Regime - FIRS Boss   The Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, has described the allocation of 70% of value-added tax (VAT) proceeds to Lagos, Rivers, and the Federal Capital Territory (FCT)...

Tax Reform: NEC Recommends Withdrawal of Bills The National Economic Council (NEC) has recommended the withdrawal of the Tax reforms bill already at the National Assembly. The NEC headed by Vice-President Kashim Shettima has governors as members. Speaking to state House Correspondents after a NEC meeting, on...

The Nigerian Financial Intelligence Unit (NFIU) has warned defaulters that they will no longer get away with tax evasion as the crime is negatively affecting the government’s capacity to meet the yearnings of law-abiding citizens. 

New Bill Proposes Tax ID for Opening Bank Accounts A new bill has been proposed in Nigeria that will require individuals engaged in banking, insurance, stock-broking, or other financial services to provide a Tax Identification Number as a precondition for opening a new account or...

FG Suspends Tax on Maize, Rice, Other Essential Food Commodities The federal government has announced that certain essential food commodities imported via land and sea borders will no longer incur charges, levies, or taxes. This declaration was made by the Minister of Agriculture and Food Security,...

Tax Operators Urge FG To Improve Tax Administration Tax practitioners are urging the federal government at all various levels to improve tax administration processes to promote economic growth. The experts spoke during a panel session organised by the Chartered Institute of Taxation of Nigeria. The event, which...