The Chairman, Federal inland Revenue Service (FIRS) Mr Tunde Fowler has said the Voluntary Assets and Income Declaration Scheme (VAIDS) policy has raked in about N300billion from previous tax defaulters. Speaking yesterday in Abuja while declaring open, the official presentation of VAIDS certificates to chairmen of states’ tax revenue authority, Fowler said the N30bn recovered […]
VAIDS: FIRS rakes in N30bn as deadline ends June 14 Read More »
Brief Introduction of the MSMEDF The CBN launched the MSME Development Fund on August 15, 2013 with a share capital of N220 billion. The Fund was established in recognition of the significant contributions of the Micro, Small and Medium Enterprises (MSME) sub-sector to the economy and the existing huge financing gap. Ten (10) percent of
Micro, Small and Medium Enterprises Development Fund (MSMEDF) Read More »
CENTRAL BANK OF NIGERIA Financial Policy and Regulation Department Central Business District P.M.B. 0187 Garki, Abuja. June 6, 2018 CIRCULAR TO ALL BANKS ON THE REDESIGNED CRMS: NOTICE OF COMMENCEMENT OF CRMS COMPLIANCE STATUS CHECKS The CBN Circular Ref: FPR/DIR/GEN/CRM/06/012 (dated February 27 2017), on ‘Regulatory Guidelines for the Redesigned Credit Risk Management System for
The Central Bank of Nigeria (CBN) said it will exchange N720 billion for 15 billion Chinese Renminbi (RMB) in three years under the $2.5 billion bilateral currency swap (BCS) with Peoples Bank of China (PBoC). The apex bank disclosed this in the guidelines for executing the BCS released yesterday, adding that it would conduct bi-weekly
CBN issues guidelines for $2.5bn currency swap with China Read More »
Lagos – Union Bank Nigeria Plc on Tuesday says it recorded N15.5 billion profit before tax during the financial year ended Dec. 31, 2017. The information is in a statement signed by the Head of Corporate Affairs Communication, Ms Ogochukwu Ekezie-Ekaidem, after the 49th Annual General Meeting of the bank. Ekezie-Ekaidem quoted the Chairman of
The federal government of Nigeria has announced the extension of the deadline for filing returns under the Voluntary Assets and Income Declaration Scheme by 3 months. This means the tax amnesty scheme will now end on 30 June 2018.
Federal Government Extends VAIDS Deadline to 30 June 2018 Read More »
On 26 March 2018, Nigeria’s President Muhammad Buhari approved the Nigeria-Singapore Double Taxation Agreement (DTA). It is expected that the DTA will be forwarded to the National Assembly for ratification. Read the full alert below: Download PwC Tax Alert_Nigeria Singapore DTA_
Nigeria signs avoidance of double taxation treaty with Singapore Read More »
The Nigerian Investment Promotion Commission (NIPC) was established to coordinate and promote investments in Nigeria. In this regard, the NIPC is inviting investors to submit a specially designed form to enable it update its database of investment opportunities in Nigeria, starting with the following sectors: agriculture and agro-processing, manufacturing, gas, solid minerals, power, ICT, and
NIPC invites investors to submit their business profiles for investment opportunities Read More »
The Federal Inland Revenue Service (FIRS) in its bid to continuously provide online real-time tax payment transactions, provided the online payment platforms and applicable payment options for taxpayers. The various platforms ensure transparency in tax payment system, boost taxpayer confidence, trust in the tax system and promotes voluntary compliance by taxpayers”. Electronic Payment Initiatives: The
FIRS; Simplifying Tax Compliance Through ICT Initiatives Read More »
The Corporate Affairs Commission (CAC) has stated that the corporation is undergoing some reforms as part of efforts to ease business registration as well as improve economic activities in the country. With Nigeria moving up 24 places in the World Bank’s Doing Business report and also emerging as one of the top 10 most improved
‘CAC undergoing reforms to improve ease of doing business’ Read More »
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