The Senate has asked the Federal Government to consider increasing taxes on luxury goods and services to boost revenues. The Senate Committee on Finance made the recommendation on Tuesday during a plenary session. The committee also urged relevant agencies to continue exploring ways of generating additional revenues to reduce the government’s fiscal deficit. It said, […]
Tax: Senate wants FG to increase tax on luxury goods Read More »
Sabo Mohammed, chairman of senate committee on trade and investment, raised the alarm recently that N42 billion was allocated to a private firm, the Nigeria Special Economic Zone Company (NSEZCO), by the ministry of industry, trade and investment. BACKGROUND: The ministry had proposed N15.63 billion as its budget for 2019. At the defence, Okechukwu Enelamah,
CAC, FACT CHECK: Did trade ministry allocate N42bn to a private company? Read More »
The Federal Inland Revenue Service on Monday announced plans to automate collection of Value Added Tax from operators in the nation’s lottery and gaming industry. The Chairman, FIRS, Mr Babatunde Fowler, disclosed this in Lagos at a stakeholders’ meeting organised in conjunction with the National Lottery Regulatory Commission with lottery and gaming operators. He said
Lottery, betting operators kick as FIRS automate VAT collection Read More »
The Institute of Chartered Accountants of Nigeria has called on the Federal Government to address some of the gaps identified in the implementation of the ease of doing business reforms. Specifically, it called on the Federal Inland Revenue Service to address the challenges being experienced in its technology infrastructure to make it easier for taxpayers
ICAN urges FIRS to upgrade electronic tax filing system Read More »
Summary Section 41 of the Personal Income Tax (PIT) Act mandates all persons who are taxable under the PIT Act to file a return of income and claims for every tax year with the tax authority of the state in which the taxable person is deemed to be resident. This return is expected to be
The Deadline For Filing Annual Returns Of Income And Claims Is 31 March 2019 Read More »
It’s a consensus among many people that for you to be a business coach, you at least should have experience running a business, so you understand the challenges of doing business and not just provide advice based on theories. He is a co-founder and a director at Roedl & Partner (West Africa), “a provider of
An appeal has gone to the Nigerian elite, especially high-net worth individuals, to be more patriotic and desist from shirking in tax payment, under whatever guise. Making this appeal the Buhari Media Organization (BMO) said it is not proper for these “eminent” Nigerians to wait for the tax authorities to coerce them to perform their
Pay your tax willingly- bmo tasks Nigerian elite Read More »
The Kaduna Refining and Petrochemical Company, one of the country’s crude oil refineries that is run by the Nigerian National Petroleum Corporation (NNPC), is one of the highest tax payers to the government of Kaduna State, Mr. Nasir el-Rufai, the state governor has said. According to el-Rufai, the refinery which capacity utilization remained at zero
Underperforming Kaduna Refinery among Highest Tax payers to Kaduna State Government Read More »
The Katsina State Government said it would tax borehole owners and operators in the state as part of measures aimed at generating revenue for the state and also to address indiscriminate drilling of borehole by several private houses in the state without following due processes The State Commissioner for Water Resources, Alhaji Salisu Gambo Dandume,
Borehole operators, drillers to pay tax in Katsina Read More »
Shell Petroleum Development Company (SPDC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo) remitted $6.3 billion in 2018 to Nigerian government. The money which represented tax and production entitlement for the 2018 fiscal year and was paid to the Nigerian National Petroleum Corporation (NNPC), Federal Inland Revenue Service (FIRS), Department of Petroleum Resources (DPR),
Shell Petroleum Remits $6.3b to Nigeria For 2018 Tax, 48% More Than 2017 Read More »
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