A disclosure the other day by the Federal Inland Revenue Service (FIRS) boss about possible pursuit of 85,000 millionaire tax defaulters is curious and unfortunate. There is no reason for serious alarm before such a critical service can be delivered and the reasons are not too far to seek. Tax payment to governments by qualified […]
A court in Abuja on Thursday blocked an attempt by Zinox Technologies Limited to suppress press freedom and stop PREMIUM TIMES from continuing its reporting on the allegation of N170 million contract fraud against the computer firm. In its ruling on the motion by Zinox Technologies seeking an injunction to restrain PREMIUM TIMES from further
N170m FIRS Contract Fraud: Court stops Zinox Computers’ from gagging Read More »
NO PERSON/FIRM CAN COLLECT TAX/LEVY ON BEHALF OF ANY GOVERNMENT IN ANY PART NIGERIA. Taxes/Levies are serious issues in any part of the world. They are created by government and their prices/amounts are certain and predictable. In Nigeria, all taxes/levies must be created by law and be assessed and collected by either Federal, State or
No Person/Firm Can Collect Tax/Levy On Behalf Of Any Government In Any Part Nigeria Read More »
The National Council of Managing Directors of Licensed Customs Agents (NCMDLCA) has called on the federal government to take urgent steps and stop the recent additional shipping charges by shipping companies called “the government and port taxes”. According to the agents, by the action, the shipping companies had violated the provision of the Convention of
Custom Agents Tackle Shipping Companies over Illegal Taxes Read More »
Personal income tax act is a topic everyone should know, whether you are an employee or an employer. Taxation is a crucial part of the everyday life of every person. We encounter taxes everywhere: at work, in a supermarket, and even at home. However, personal income tax is the most important of them. We have
Personal income tax act in Nigeria: things everyone should know Read More »
The National Bureau of Statistics (NBS), has said that the Nigerian manufacturing sector contributed about N864 billion of the N3.63 trillion generated as Value Added Tax (VAT) between 2013 to 2018. The NBS report on Sectoral Distribution of VAT showed that the manufacturing sector’s contribution represented 24 per cent of the total VAT generated within
VAT: Manufacturing sector contributes N864bn in 6 years –NBS Read More »
The Society of Women in Taxation (SWIT), Lagos Chapter, has stressed the need for improved tax revenue for national development. The group, an arm of the Chartered Institute of Taxation of Nigeria (CITN), which made this known during an event held in Lagos recently, said there was need to raise awareness on tax payment. In
Group Seeks Increased Tax Revenue for National Development Read More »
Mrs Ene Obi, the Country-Director of Actionaid, has called on all taxable citizens and corporate bodies to pay their correct taxes to boost national development. Ene, represented by the Governance Manager, Actionaid, Mr Celestine Odo, made the appeal on Tuesday in Lagos at the opening of a three-day workshop on breaking barriers to education by
Nigeria earned N3.72 trillion from royalties and petroleum profit tax, PPT, in the oil and gas sector in 2018, according to data obtained from the Central Bank of Nigeria, CBN. The CBN, in its Economic Report for the Fourth Quarter of 2018, stated that the amount the country earned from royalties and PPT in 2018
Nigeria earns N3.72trn from royalties, petroleum tax in one year. Read More »
The Association of Licensed Telecommunications Operators of Nigeria has lamented the huge tax burden telecoms operators bear as a result of statutory and non-statutory taxes and levies from government agencies. The Secretary, ALTON, Mr Gbolahan Awonuga, said in a statement that the cost of doing business in the country was enormous despite the Ease of
Multiple taxes makes business difficult — Telcos Read More »
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