The Executive Chairman, Federal Inland Revenue Service (FIRS) Mr. Tunde Folwer, has stated that revenues generated through taxation and borrowing would play a key role in supporting State Governments to finance their expenditure infrastructure and social services. Fowler, who disclosed this yesterday in Lagos at the Maiden Edition of the Nigeria Corporate Services with theme: …
The Federal Inland Revenue Service (FIRS) on Tuesday said it will surpass in 2019 the N5.32 trillion it generated in 2018. The N5.32 trillion remains its highest yearly collection so far. In a paper titled: “The imperatives of regulatory processes, procedures and compliance in the Nigerian business sector” presented at a forum organised by the …
FIRS will exceed N5.32trn revenue collection in 2019 – Fowler Read More »
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), has commended the decision of the Federal Government to remove Value Added Tax (VAT) from domestically produced Liquefied Petroleum Gas otherwise known as Cooking Gas. According to the association, the Federal Government signed the approval of VAT removal on LPG and gazetted same, after several pleas …
NALPGAM hails removal of VAT on LPG, seeks reduction in duty Read More »
With the price of oil tumbling drastically to $48.86 per barrel in October 2015, after which it slid further to $44.82 the following month and $37.80 in the last month of the year, the signs were bold that Nigeria was facing a major economic crisis. The implication of the slump in revenue derivable from oil, …
The Federal High Court sitting in Lagos, on Tuesday, 21st May 2019, has for the umpteenth time held that only members of the CITN can practice taxation in Nigeria pursuant to the relevant provisions of the CITN Act. This was the outcome of the suit instituted in 2018 by five members of ICAN by way …
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