President Muhammadu Buhari on Thursday asked the governors of the 36 states to raise their internally generated revenues and the Value Added Tax in the next four years. The President said this was to help the states to meet the challenges of providing infrastructure and the funding needed to provide equipment for fighting insecurity. However, […]
TAX: NECA, NACCIMA, LCCI fume as Buhari asks govs to raise IGR Read More »
The Ebonyi State Government has ordered the sealing off of the popular building materials’ market, on Afikpo Road, Abakaliki, the state capital. The order to seal off the market, which was given by Governor David Umahi, followed the refusal of the traders to pay income tax. Umahi, who directed the Secretary to the State Government
Ebonyi seals building materials’ market over unpaid tax Read More »
In line with its commitment to deepen the capacity and growth of businesses in Nigeria, particularly Small and Medium Scale Enterprises (SMEs), First City Monument Bank (FCMB) will next week in Lagos, host a seminar on tax matters. The seminar, tagged, “Tax Enforcement and Implications on Businesses in Nigeria,” is aimed at equipping entrepreneurs with
Tax: FCMB Restates Commitment to Growth of Businesses Read More »
The Chartered Institute of Taxation of Nigeria (CITN), has said the non-remittance of taxes by some Federal Government agencies is frustrating efforts in enforcing compliance from individuals and corporate organisations. CITN, which argued that the development is worrisome, accused such agencies of not showing good example in compliance processes. The Institute is particularly worried about
‘Non-remittance of taxes by MDAs frustrates compliance’ Read More »
The two labour unions at the Federal Inland Revenue Service have reassured Nigerians, the Federal Government and FIRS management that they will ensure that the N8.8 trillion revenue target for 2019 is realised. Comrade Okere Samson, Chairman, FIRS chapter of the Association of Senior Civil Servants of Nigeria, and Comrade Idris Hassan of the Nigerian
The Tax Appeal Tribunal sitting in Abuja on Wednesday fixed June 19, to deliver judgment in an appeal of N29. 2 million remittance on Value Added Tax (VAT) filed by Infinity Trust Mortgage Bank. The bank is challenging the Federal Inland Revenue Service (FIRS) for imposing the amount. The tribunal headed by Alice Iriogbe fixed
N29.2m VAT penalty: Tribunal fixes judgement for June 19 Read More »
To widen its corporate horizon, the Chartered Institute of Taxation of Nigeria (CITN), has renewed its vision and mission statement, with the hope to pursue the actualisation of both with more vigour. The body added that it is also planning to be a leading Institute in training world-class tax professionals. It explained that the planned
State gaming regulators have called for a better understanding of their operations, unity of processes and licensing, especially from the lens of the National Lottery Regulatory Commission (NLRC).Under the aegis of Association of State Gaming Regulators in Nigeria (ASGRN), the body also kicked against plans by the Federal Inland Revenue Service (FIRS) to introduce Value
State gaming regulators kick against VAT, explain operations Read More »
As the Federal Inland Revenue Service (FIRS) prepares to impose Value Added Tax (VAT) on online transactions, the questions on many lips is how can it work in Nigeria? “What Nigeria (FIRS) needs to do is to first study digital economy; What does it mean? In which different areas do we have it? What are
The Edo State Governor, Mr. Godwin Obaseki, has said the state government’s insistence on the use of technology for tax collection as against non-state actors and consultants was to ensure that traders are protected from harassment and double taxation. He said his administration would strengthen ties with the Tax Appeal Tribunal, South-South Zone, to boost
‘Technology For Tax Collection Protects Traders, Checks Double Taxation’ Read More »
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