The Federal Inland Revenue Service (FIRS) has issued the Income Tax (Common Reporting Standard) Regulations, 2019 (CRS Regulations). This follows Nigeria’s signing of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC) and the Multilateral Competent Authority Agreement (MCAA) on the Automatic Exchange of Financial Account Information, signed by Nigeria on 17 August […]

The Buhari Media Organisation (BMO) has cautioned the Peoples Democratic Party (PDP) to stop crying wolf or seeing ghosts where none exist, especially over federal government’s plan to increase the Value Added Tax (VAT) from 5 per cent to 7.5 per cent. Reacting to the PDP’s rejection of VAT, the group warned the opposition party

The Tax Appeal Tribunal, TAT, has warned petitioners that it was not susceptible to inducements and would only continue to treat appeals before it on their merits. Work on VAT implementation, not increase,Ex-ANAN president urges FG The Tribunal also said that it does not use technicalities to adjudicate matters before it, but dispense them meritoriously;

Chairman,  Tax Appeal Tribunal for the South East zone, Chukwuemeka Eze, has asked people and businesses with issues against tax authorities to approach the tribunal with their cases, assuring they would be adjudicated dispassionately. Eze said the tribunal was established by the Federal Ministry of Finance to deal on matters arising from taxation, and was

The Tax Appeal Tribunal, North West Zone, said it has resolved nine out of 13 cases worth over N10 billion in the past nine months. Chairman of the tribunal,  Umar Adamu, disclosed this at a stakeholders forum in Kano State. While admitting  that most of the cases were adjudged in favour of tax payers, he

It was in the news last week, that the Federal Government of Nigeria is planning to increase the Value Added Tax rate (VAT) from 5% to 7.5% – a proposed fifty percent increase. Some have harangued that the increase is justified because the rates applicable in other jurisdictions is as high as 20% in the

The leader of Sufficient Grace and Truth Ministry, Okinni, Osun State, Bishop Seun Adeoye,   has alleged that the state government is planning to tax religion houses in the state. Addressing a press conference in Osogbo, Adeoye, who is spokesman for the African   World Bishops Council, said on Wednesday that the state Internal Revenue Service had