About 55 life and non-life underwriting companies in the country have paid N36.5 billion as tax to the government through the Federal Inland Revenue Service (FIRS) in the last five years.The Guardian reliably gathered that between 2013 and 2017 financial years, these underwriters generated N100.4 billion as Profit Before Tax (PBT) and were left with …
How insurers’ N37 billion tax affects industry growth Read More »
In 2017, the World Economic Forum (WEF) ranked Nigeria 125 out of 137 countries in its Global Competitiveness Report. The WEF survey found that Nigeria’s potential for structural change was impeded by inadequate investment in infrastructure, technology, higher education and innovation. Nigeria has long depended on oil as its economic mainstay with paltry attempts at …
10 ways taxes come to your rescue that you probably take for granted: Shelter If you were raised or currently reside in public housing, you may have reason to thank the taxes you or others have generated for the relative freedom you enjoy from exorbitant rent. After all, you have no reason to contend with …
It has been revealed that the number of taxpayers in Nigeria, which was at 10 million in 2015, is about to hit 45 million in 2019. Executive Secretary of the Joint Tax Board (JTB), Oseni Elamah, made this disclosure in Abuja on Monday, while presenting a report on the new Taxpayer Identification Number (TIN) Registration …
From 10m in 2015, taxpayers in Nigeria to hit 45m in 2019 Read More »
The Rivers State Internal Revenue Service (RIRS) has unveiled a new tax for the informal sector, promising to be fair in its collection. The RIRS Chairman, Mr Adoage Norteh, made the disclosure at a news briefing in Port Harcourt on Monday. The chairman said that members of the public would begin to pay for every …
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