The Federal Government’s aggressive pursuit of increased non-oil revenue to pare huge budget deficit, which has remained a yearly routine over the years, gained further traction last week, with plans by the lawmakers to enact Communication Service Tax (CST). But the move, like others, is still testing the controversial waters over its morality, workability and […]
Nigeria sustains ‘hunt without barriers’ in new tax drive Read More »
Telecom subscribers in the country are likely to pay an additional N261.18bn on voice calls, short message service and data in one year if the Senate passes the proposed Communications Service Bill into law. The bill, sponsored by Senator Ali Ndume from Borno South, aims to charge nine per cent on communication services and pay-per-view
MTN, Glo, Airtel, 9mobile subscribers, others to pay extra N261bn Read More »
The Anambra State Government has said that not more than 300,000 residents of the state pay taxes out of a population of 4.5 million. Mr Mark Okoye, the State Commissioner for Economic Planning and Budget, made the disclosure at a news conference tagged: “2020 Budget Breakdown” on Thursday in Awka. The News Agency of Nigeria
300,000 people pay taxes in Anambra —Commissioner Read More »
Chairman, Inland Revenue Service (FIRS), Mr Babatunde Fowler, has described the Kwara Internal Revenue Service (KWIRS), as a model revenue agency in the North Central region. Fowler gave this pass mark, yesterday, in Ilorin at the flag-off of the National Taxpayer Identification Number (TIN) and Consolidated National Taxpayers’ Database. He said the choice of Ilorin
It is common knowledge that Nigeria’s tax to Gross Domestic Product (GDP) ratio is one of the lowest in the world. At under 6%, it is far below the sub-Saharan African average of 20%. Nigeria is reputed to be among the countries in the world with the lowest tax compliance rate as recently corroborated by
Taxation in the Era of Global Information Exchange Read More »
Federal Inland Revenue Service has said that about 45 million Nigerians will be captured as taxpayers before December 2019. Mr Babatunde Fowler, Chairman, Joint Tax Board said this on Thursday in Ilorin at the inauguration of the new Tax Identification Number registration system and consolidated National Taxpayers’ Database for North Central zone. “Over the last
The Federal Government has confirmed the removal of Value Added Tax (VAT) on Liquefied Petroleum Gas (LPG) in Nigeria, otherwise known as cooking gas. This means that the cost of LPG, commonly referred to as cooking gas, will be relatively stable, thus attracting many investors and users in the country. The Chairman, Federal Inland Revenue
The Federal Inland Revenue Service (FIRS) has said technology integration is aiding revenue collection across the country. Mr Babatunde Fowler, the Chairman, FIRS, disclosed this during the inaugural edition of the Nigeria e-Government Conference in Lagos. The chairman said technology adoption made payment process more convenient and improved communication between taxpayers and the service in
Telecommunications operators have condemned the proposed nine per cent communications service tax the 9th National Assembly plans to re-introduce. The operators under the aegis of the Association of Telecommunications Companies of Nigeria said the 8th National Assembly which earlier considered introducing the tax in 2016 had shelved the idea after the intervention of the association.
Telecom operators condemn proposed communications service tax Read More »
Special Adviser to the President on the Ease of Doing Business, Dr. Jumoke Oduwole, has given reasons for the delay in the signing of the much-awaited National Automotive Industry Development Plan bill. Oduwole, who also doubles as the Secretary, Presidential Enabling Business Environment Council, in an interview with News Agency of Nigeria on Thursday in
Why Buhari didn’t sign bill granting 10-year tax incentive to auto industry —Aide Read More »
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