While competitive enough to bolster the country’s appeal to foreign investors and skilled expats, Nigeria’s tax system is also tasked with the responsibility of providing the government with enough resources to finance the country’s development – company tax and petroleum royalties in fact account for the primary source of government revenue. Here is an overview …
Federal Inland Revenue Service (FIRS) has recently been issuing Notice of Refusal to Amend (NORA) assessments issued in respect of on-going tax audit exercises. This is notwithstanding that taxpayers have objected such assessment notices or that some of the issues raised by FIRS have been resolved/documented at reconciliation meetings. In letters issued to some taxpayers, …
Nigeria: FIRS Seeks To Close Prolonged Tax Audits Using NORAs Read More »
The Institute of Chartered Accountants of Nigeria (ICAN) on Tuesday commended the laudable achievements of the Federal Government under the Federal Ministry of Finance in the last three and half years, saying it has blocked leakages and set the tone for improved revenue generation to finance government’s economic development agenda. ICAN President, Alhaji Razak Adeleke …
ICAN seeks collaboration with finance ministry on training Read More »
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