Senate To NUPRC: Stop IOCs Evading Tax From Lifting Crude Oil   The Senate Committee on Finance has asked the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to stop international oil companies (IOCs) evading tax from lifting crude oil. The panel said the move has become imperative...

Fed Govt Bars 10 Firms, Grants Three-year Tax Relief To 33 Companies   The Federal Government approved the application of 33 companies seeking pioneer status under the Industrial Development Income Tax Act in 2021. This was contained in the quarterly PSI reports released by the Nigeria Investment...

Buhari: "Much is Needed In The area of Tax Mobilisation" President Muhammadu Buhari has described Nigeria’s current tax system as fragmented and inefficient. He calls for a harmonised approach within a single system to boost revenue generation. In a statement by the Special Adviser to the...

N10/litre Tax On Soft Drinks: Nigeria’ll Lose Investments - MAN   The Manufacturers Association of Nigeria said on Thursday that the introduction of excise duty of N10 per litre on all non-alcoholic, carbonated and sweetened beverages will make Nigeria lose investments to other countries. The Minister of...

Fed Govt Rakes In N8.6trn From Customs, FIRS In 2021   The federal government has realized the sum of N8.6trn as taxes for the year 2021. Data released by the Nigeria Customs Service (NCS) and the Federal Inland Revenue Service (FIRS) disclosed that both agencies generated N2.2...

FG Commences Collection Of Income Tax On Bonds, Short-term Securities   The federal government will today commence the collection of income tax on bonds, short-term securities. This followed the expiration of a 2012 gazette which exempted Companies Income Tax (CIT) from bonds and short-term securities in the...