The Lagos State Internal Revenue Service (LIRS), on Wednesday, said that it will commence the prosecution of tax evaders and offenders in Lagos State beginning from April 1, 2016. Gov. Ambode A statement signed by Monsurat Amasa, Head, Corporate Affairs, LIRS said “Under the Personal Income Tax Act, a taxable person is statutorily required to […]
Lagos to begin prosecution of tax defaulters April Read More »
Vice President Yemi Osinbajo says the federal government has no desire to impose austerity measures on Nigerians, saying that government will rather stimulate the economy through other ways. Osinbajo stated this on Thursday, while speaking at the The Nation’s First National Economic Forum held in Lagos. The Vice President stressed that state and federal governments
VAT & Company Income Tax Increment Analysts at FBN Quest, an investment and research firm,have explained why the monthly payout by the Federation Account Allocation Committee (FAAC) to the three tiers of government in March from February revenues declined to N345 billion. A report by the firm said the decline from N370 billion the previous
5% Value Added Tax too low – Osinbajo Vice President Yemi Osinbajo has described the current five per cent Value Added Tax rate in the country as very low, adding that the Federal Government would increase the taxpayer base this year. Osinbajo stated this on Thursday in Lagos in a keynote address at the 1st
Company Income Tax – Nigeria Managing Director, Gossy Natural Spring Water, a subsidiary of UACN, Mrs. Folake Oshinyemi has decried the huge cost electricity takes in the total cost of operation of manufacturers. She lamented that the firm spends between 40 and 60 per cent of its total costs on power generation, noting that it
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