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May 14, 2019

Legal questions on banks’ appointment as FIRS collecting agents

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The Federal Inland Revenue Service has intensified its drive to recover outstanding tax liabilities from taxpayers in default of tax obligations. To this end, FIRS has been writing to taxpayers’ bankers, appointing the banks as collecting agents, to collect outstanding tax liabilities from the taxpayers’ bank account balances. This is referred to as tax substitution. …

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Tax: Anti-corruption group makes damning allegation against Saraki

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The Nigeria Anti-Corruption Vanguard has called ‎on the Economic and Financial Crimes Commission, EFCC, to probe activities of Orion Agro Industries‎ Nigeria Limited, manufacturing cigarettes in Ilorin Kwara State, considering the alleged interest of the Senate President, Bukola Saraki in the affairs of the company. It alleged that the firm was being allegedly used by …

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Bandits tax us before allowing us access to our farms – North-West farmers

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Farmers in the North-West geopolitical zone have recounted their ordeals following the increasing rate of banditry and kidnapping, saying bandits have resorted to taxing them before they can have access to their farms. They said apart from this, most of them have been forced to abandon their farms, adding that except something urgent was done …

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TAX: Fowler Debunks Report Of Missing Funds

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Chairman of the Federal Inland Revenue Service (FIRS), Mr. Tunde Fowler, has dismissed reports suggesting that money paid as taxes was missing from the agency’s coffers. Fowler made the clarification in his office in Abuja yesterday. The clarification came in the wake of media reports alleging that taxpayers’ money in the custody of the agency …

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Stakeholders seek VAT increase, reintroduction of tollgates

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In a bid to refloat the economy and escape another recession in the economy, stakeholders have proposed an increase in Value Added Tax (VAT) and reintroduction of toll gates on Nigerian roads. One of the stakeholders who is also the Lead Director of Centre for Social Justice,  Eze Onyekpere, advised President Muhammadu Buhari and the …

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