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...

Over 30m Nigerians Refuse To Pay Tax ― DG Budget, Akabueze   Over 30 million Nigerians who are generating taxable incomes are not paying tax, compounding the effort of government to broaden its revenue, the Director-General of Budget Office (DG), Dr Ben Akabueze, has lamented. Speaking at...

Tax: Lagos, Rivers, Others Make N2.33trn From PAYE In Three Years     The 36 states in Nigeria and the Federal Capital Territory earned N2.33tn from Pay As You Earn in three years, according to data collated from the National Bureau of Statistics. According to the NBS, PAYE...

Buhari Orders FIRS To Tax Digital Transactions           The Secretary to the Government of the Federation (SGF) and Chairman, Presidential Task Force (PTF) on COVID-19, Boss Mustapha President Muhammadu Buhari has ordered the deployment of technology to tax all digital transactions carried out across the country. The Secretary...

FG Targets Tax Raise In 2022 To Reduce Borrowing       Taxes may go up next year as a result of the government’s plans to shore up revenue and drastically cut borrowings. Leakages are to be blocked and revenue-generating agencies are to be thoroughly supervised. Senate President Ahmad Lawan,...

Tax Forms 70% Of FAAC Allocations — FIRS Boss       The Executive Chairman of the Federal Inland Revenue Service (FIRS), Alhaji Muhammad Mamman Nami, has said 60 to 70 percent of the funds shared monthly by the Federal Account Allocation Committee (FACC) among the three tiers...