The Buhari Media Organisation (BMO) has expressed surprise that a company owned by a former President, Olusegun Obasanjo, is on the list of over 19,000 tax defaulters recently released by the Federal Internal Revenue Service (FIRS). The BMO, in a statement on Thursday by its chairman, Niyi Akinsiju, and Secretary, Cassidy Madueke, said it was […]
The Assemblies of God Church, Nigeria, has described as embarrassing the listing of the Church by the Federal Inland Revenue Service, FIRS, as one of the tax defaulting companies. It was gathered that the Government revenue agency had listed the church alongside 19,901 other accounts that were yet to regularise their tax status. A statement
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Federal Inland Revenue Service (FIRS) on Monday, 19 August 2019, issued a public notice mandating companies with lien on their accounts to regularise their tax status and pay the tax due within 30 days of the public notice. In the event of non-compliance within the stated timeline, FIRS has stated its intention to recover the
Businesses operating in Nigeria’s internet space are preparing to add value-added tax (VAT) to their cost of doing business. Babatunde Fowler, executive chairman of the Federal Inland Revenue Service (FIRS) recently announced that the service will extend its tax net by charging 5% VAT on online transactions. Since its inception, the Muhammadu Buhari-led administration has
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The revenue generated from Value Added Tax (VAT) in the second quarter of 2019 (Q2’19) rose by 17 percent to N312 billion from N269.79 billion in the corresponding period of 2018. The National Bureau of Statistics (NBS), yesterday, disclosed this in its sectoral distribution of Value Added Tax (VAT) data for Q2 2019. The report
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