The Society of Women in Taxation (SWIT), Lagos State Chapter, has rolled out plans to enhance tax payments in the country as part of its commitment to growth and development. The society disclosed this during the investiture of its third Lagos state chairperson in Lagos, recently. Speaking, the newly sworn Chairperson, Dr. Titilayo Fowokan stated […]
In classifying taxes using the tax base – the basis for assessing tax, taxes are classified as income tax, capital tax and consumption tax. Consumption tax is imposed on the consumption of goods and services. Consumption tax are usually described as Value Added Tax (VAT), Sales Tax (ST), Goods and Services Tax (GST), or simply
Mind Your Tax Affairs: Administration of Consumption Tax Read More »
MIXED reactions on Thursday trailed the 7.2 per cent Value Added Tax (VAT) proposed by the Federal Executive Council (FEC). The Chartered Institute of Taxation of Nigeria (CITN) lauded the increase, saying it was long overdue. According to the institute, the proposal will help government to realise its developmental objectives. But, the Manufacturing Association of
Nollywood actress, Iyabo Ojo is almost at the verge of shutting down her shop over excessive Taxation by Sanwo Olu’s goverment in Lagos State. The movie star took to her Instagram account late on Thursday night, September 12, 2019, to lament the tax debt levied on her by the Lagos state tax agency. In a
Federal Government has given a 30-day window to high profile tax defaulters to regularise their tax status with the Federal Inland Revenue Service (FIRS), failing which they risk forfeiting the tax equivalent directly from their bank accounts to the Federal Government The FIRS Executive Chairman, Tunde Fowler, dropped the hint on Thursday when he appeared
FG reveals what banks will do to accounts of tax defaulters Read More »
Chairman, Federal Inland Revenue Service, Babatunde Fowler, has advised accountants against colluding with tax evaders, warning that they have no power to substitute accounts. Fowler gave the advice on Wednesday at the ongoing 49th Annual Conference of the Institute of Chartered Accountants of Nigeria, where he was the keynote speaker at a panel discussion on
Don’t collude with tax evaders, Fowler warns accountants Read More »
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