The Lagos State Internal Revenue Service has resumed the sealing of companies and hospitality firms over unpaid consumption taxes. LIRS sealed 14 firms during its tax law enforcement exercise on Wednesday. The LIRS Director of Legal Services, Mr Seyi Alade, said that two enforcement teams had been mobilised by the service for the state-wide exercise. […]
The Corporate Affairs Commission (CAC) has initiated several reforms aimed at easing business registration, encouraging informal enterprises to regularize and streamline all matters relating to company incorporation in the country. Some of these reforms have been captured in the Companies and Allied Matters (CAM) Bill 2019, which has been passed by the National Assembly and
CAC’s key reforms for business registration may stall soon Read More »
The Chartered Institute of Taxation of Nigeria says it is supporting the proposed plan by the Federal Government to introduce Value Added Tax on online transactions. A statement quoted the newly elected 14th and third female President/Chairman of Council, CITN, Gladys Simplice, as saying this after her investiture recently in Lagos. Simplice was also inaugurated
CITN backs FG’s plan to charge VAT on online transactions Read More »
The Joint Tax Board (JTB) has launched a new national registration system that would enable Nigerians to obtain their taxpayer identification number (TIN) online. The new system launched in Abuja is also targeted at tracking all eligible taxpayers in the country. Launching the new platform, Vice-President Yemi Osinbajo expressed hope it would go a long
The Manufacturers Association of Nigeria has called on the Federal Government to jettison the idea of increasing the Value Added Tax by 50 per cent. MAN President, Mansur Ahmed, made this call on Wednesday, during the 35th Annual General Meeting of the Rivers/Bayelsa Branch of the association, held in Port Harcourt. Ahmed explained that the
As an entrepreneur, you will always be confronted with issues related to money, money management and profitability. Here are a few frequently asked questions (FAQs) by other entrepreneurs and the responses to these FAQs. In providing these responses, it is expected that you will come to fully grasp the mind-set requisite to mastering your business
Tunde Fowler, Chairman, Federal Inland Revenue Service (FIRS) has announced the possibility of the agency to increase the country’s tax base by over 100 percent to 45 million before the end of Q3 2019, a target which would hopefully expand the country’s low tax revenues. Nigeria’s has a low tax base currently put at about
The Federal Government has cleared the N135.8bn Pay-As-You-Earn tax liabilities owed by federal Ministries, Department and Agencies to state governments. The PAYE tax liabilities owed to various state governments covered the period between 2002 and 2016. The Executive Chairman, Federal Inland Revenue Service, Mr Babatunde Fowler, confirmed the payment on Monday in Abuja at the
The new national Taxpayer Identification Number (TIN) registration system and consolidated tax database will ensure value addition to tax revenue administration and facilitate the ease of doing business, the Federal Inland Revenue Service (FIRS) has said. The system, which consolidates individual and corporate taxpayers’ records, provides a unique identity to the taxpayer as the foundation
How new national tax system will boost revenue, grow businesses – FIRS Read More »
President Muhammadu Buhari has directed all business data generating agencies in the country to furnish the Joint Tax Board (JTB) with all vital information necessary for its activities. This is as the Federal Inland Revenue Service (FIRS) plans to get 45 million Nigerians into the tax net by September. Vice President Yemi Osinbajo, who dropped
Buhari orders agencies to work with new Joint Tax Board Read More »
©2023.Innerkonsult ltd. All Rights Reserved.
Powered by INNER KONSULT LTD
