DEDUCTION OF TAX AT SOURCE (WITHHOLDING) REGULATIONS, 2024 The Deduction of Tax at Source (Withholding) Regulations, 2024, effective from January 1, 2025, introduce several key provisions aimed at streamlining tax deduction processes in Nigeria. Here are the important highlights: These Regulations aim to enhance tax compliance, simplify the deduction process, and align with global best […]
Accountancy Services – Inner Konsult LTD
Accountancy Services – Inner Konsult LTD Inner Konsult Ltd offers the full range of services you would expect from an accountancy practice including limited company services. If you’re considering starting your own limited company we can advise and assist you with a free consultation to establish your exact requirements. Accountancy Services – We can then
Businesses to improve as FG cuts tax for SMEs
Last week, the Minister of Finance, Mrs Kemi Adeosun, disclosed that the Federal Government is proposing an amendment to the Company Income Tax aimed at reducing the Right of Tax on Micro, Small and Medium Enterprises (SMEs) from 20 to 15 per cent. She said the proposal, when approved, would also promote Micro, Small and
VAIDS: Avoid Last Minute Rush—FIRS Boss Begs Nigerians
Executive Chairman of Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler, has urged Nigerians to quickly regularise their tax payment before the tax amnesty period closes on Saturday, June 30, 2018. On July 1, 2017, the federal government opened a grace period for citizens to voluntarily regularise their tax payment without punishment. It called
VAIDS: Avoid Last Minute Rush—FIRS Boss Begs Nigerians Read More »
Financial expert proffers solutions to tax fraud in Nigeria
A financial adviser and business mentor, Mr. Abikure Tega, has said that the easiest and most efficient way to address issues of fraud in the country’s taxation system is through the block-chain technology. Tega, Chief Executive of Kurecion Foundation, who spoke at a training programme at the weekend organised by his outfit, said the efficacy
Financial expert proffers solutions to tax fraud in Nigeria Read More »
Stock Exchange makes N3.8 billion record high profit
Trading floor of NSE, Lagos The emergence of the Nigerian Stock Exchange (NSE) as the third best performing stock in the world last year has impacted on its performance for the 2017 financial year, resulting to an operating surplus after tax or Profit After Tax (PAT) of N3.79 billion. The NSE made this known at
Stock Exchange makes N3.8 billion record high profit Read More »
Nigeria relaxes tax policies to reduce burden on citizens
The new policies entail VAT exemption for life insurance, public transportation, residential buildings, etc; while taxes on SMEs will now be reduced from 20 to 15%. The new policies entail VAT exemption for life insurance, public transportation, residential buildings, etc; while taxes on SMEs will also be reduced from 20 to 15%. Kemi Adeosun, Nigeria’s
Nigeria relaxes tax policies to reduce burden on citizens Read More »
Risk management in tax administration: Sn examination of VAIDS, WHT and VAT
Recently, the Federal Government of Nigeria introduced the voluntary assets and income declaration scheme (VAIDS), encouraging Nigerians to declare their tax liabilities in exchange for amnesty. Most Nigerians have a perception of tax as part of several official legislations used by public officials to proverbially rob Peter to pay Paul. Moreover, they view taxation with
Risk management in tax administration: Sn examination of VAIDS, WHT and VAT Read More »
June 2018 FGN Savings Bonds Offer for Subscription
Pursuant to the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004 Debt Management Office on behalf of the Federal Government of Nigeria Offers for Subscription and is authorized to receive applications for the Federal Government of Nigeria Savings Bond at the following interest rates
June 2018 FGN Savings Bonds Offer for Subscription Read More »
Personal Income Tax in Nigeria: All You Need to Know
The Personal Income Tax (PIT) is the most common tax type in the country. Interestingly, many taxpayers don’t understand the way this tax is deducted and as a result, there are often questions about it. #1 What is PIT? The origin of the PIT can be traced to the Personal Income Tax Act No
Personal Income Tax in Nigeria: All You Need to Know Read More »
