The re-introduction of Value Added Tax charges on transactions in the Nigerian capital market takes effect from today, July 25, 2019. The VAT charges on transactions in the capital market were suspended in 2014 by the then Minister of Finance, Dr Ngozi Okonjo-Iweala, to encourage increased trading activities in the market. Okonjo-Iweala had set up […]
VAT Charges on Capital Market Transactions Resume Today Read More »
Oxfam in Nigeria has called on the federal government to fast-track action on the approved new National Tax Policy in order to tackle corporate crimes. Oxfam Country Director, Constant Tchona, made the call in Abuja at the public unveiling of the ‘Fair Tax Index report and the Commitment to Reducing Inequality Index (CRII)’ report, with
Oxfam Urges FG to Fast-track Action on New Tax Policy Read More »
The Federal Inland Revenue Service (FIRS) and the Tertiary Education Trust Fund (TETFund), have concluded plans to generate more funds through the education tax collection from non-oil sector to finance tertiary institutions and their various projects. TETfund’ Executive Secretary, Suleiman Bogoro, speaking at an interactive forum for stakeholders, themed: “Mitigating the Challenges of Education Tax
FIRS, TETfund to generate more fund for tertiary institutions Read More »
Failure of Midwestern Oil and Gas Company Limited to pay the outstanding tax liability due to the Federal Republic of Nigeria in the sum of $97,086,985.00.has prompted the Federal Inland Revenue Service to drag the company before a Federal high court in Lagos south west Nigeria. In an affidavit sworn to by Mr Ayodeji Jolaoso,
Failure to pay $97m tax: Midwestern Oil and Gas Company dragged to court Read More »
The Tax Appeal Tribunal sitting in Abuja, on Tuesday fixed Aug. 16, for Report of Settlement a suit filed by a company, “M FIFTEEN” Consultants against the Federal Inland Revenue Service (FIRS) and one other. The company dragged the FIRS, before the Tax Appeal Tribunal over alleged double taxation. Also joined in the suit are
A law firm, SimmonsCooper Partners, alleged by a newspaper report to be associated with or involved in a N100 billion tax evasion scandal with Alpha Beta Consulting Limited, has refuted the allegations and given the newspaper 72 hours to retract the accusation or face legal actions for defamation and malicious falsehood. The report alleged the
Manufacturers and providers of goods and services under the aegis of Nigeria Employers’ Consultative Association (NECA) wednesday expressed their opposition to the plans by the federal government to increase taxation, including the value added tax (VAT). NECA also called on the federal government to address the nation’s infrastructure deficit before the take-off of the African
Manufacturers Oppose FG’s Planned Increase in Taxation and VAT Read More »
Chairman of the Joint Tax Board (JTB), Mr. Babatunde Fowler, has stated that the Tax Identification Number (TIN) Registration System and Consolidated National Taxpayers Database introduced by the JTB will improve the efficiency and output of the entire tax administration process and provide convenience to taxpayers and tax authorities. (From Left): Mr. Tunde Fowler, Chairman,
Fowler Lists Benefits Of New JTB TIN Registration System Read More »
The Joint Tax Board (JTB) Chairman, Mr. Tunde Fowler, on Thursday, expressed optimism that 45 million Nigerians would be within the taxpayers’ net before the end of the third quarter of 2019. Fowler disclosed this at the inauguration ceremony of the new South West Regional National Taxpayer Identification Number (TIN) registration system and consolidated national
JTB targets 45m taxpayers by September 2019 – Fowler Read More »
Fowler made this known on Thursday during a speech at the south-west flag-off ceremony of the new Tax Identification Number (TIN) Registration System and Consolidated National Taxpayers Database. The website, which was first launched in Abuja on July 1, allows users to register and get their tax identification numbers (TIN) online. According to the JTB
Tax transactions to be conducted online- Tunde Fowler Read More »
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