The Federal Inland Revenue Service (FIRS) has lamented the lack of focus on issues of taxation by financial reporters in the country. The agency stated this at the commencement of a two-day training in Abuja for journalists on tax reporting, saying that it aimed at equipping them with relevant skills on accurate reporting of tax […]
FIRS Trains Journalists On Accurate Tax Reporting Read More »
The Federal Inland Revenue Service (FIRS) and the Economic and Financial Crimes Commission (EFCC) have agreed their to track both individuals and organisations who refuse to pay the right taxes. The partnership will beam searchlights on defaulting taxpayers who also refused to rely on the Federal Government’s tax amnesty programme: Voluntary Assets and Income Declaration
FIRS, EFCC partner to track tax defaulters as VAIDS ends Read More »
The Corporate Affairs Commission (CAC) has opened a portal for people to search company or business name before registration. Acting Register-General of CAC Azuka Azinge revealed this on Wednesday in Lagos at the Quarterly Stakeholders’ Forum of the Commission. According to Azinge, the move is to make registration of businesses easier, revealing that businesses can now
CAC Opens Name Search Portal For Business Registration Read More »
The Corporate Affairs Commission (CAC) says it is committed to improving the country’s ease of doing business to drive economic rebound and growth. Lady Azuka Azinge, Acting Registrar-General, CAC, made the assertion during CAC Quarterly Customers’ Forum on Wednesday in Lagos. She said that the commission’s goal was to enable more businesses, especially for the
CAC restates commitment to ease business registration process Read More »
Three revenue generating agencies of the federal government: Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Nigerian National Petroleum Resources (through the Department of Petroleum Resources) have all received cumulative sum of over N191.34 billion as cost of revenue collection in the last 14-months. The FIRS got N100.642 billion out of the whole
FIRS, Customs, NNPC Receive N191.34bn For Revenue Generation Cost Read More »
The Chartered Institute of Forensic and Investigative Auditors has called on the Federal Government to raise the audit standards in the country so as to curb the high level of fraud in the country’s financial system. The President of the institute, Victoria Enape, who said this in Abuja, noted that the move would inspire public
‘Raise audit standards to prevent fraud in banks, others’ Read More »
Recently the chairman, Lagos Internal Revenue Service, Mr Ayodele Subair, spoke about the technology application in the collection of the state’s consumption tax, saying it is targeted at improving efficiency while plugging leakages. Excerpts REFLECTING on your consumption tax you recently unveiled an e-payment platform. Can you shed more light on it? It’s an electronic
We want to improve efficiency in collection of consumption taxes – LIRS boss Read More »
As the tax amnesty under the Voluntary Assets and Income Declaration Scheme (VAIDs) ends on Saturday, some private sector players are said to be lobbying President Muhammadu Buhari to extend the amnesty period. An official at the Presidency, who craved for anonymity, told newsmen on Friday that governors and company owners had called the President
VAIDs: Companies Pressure President Buhari To Extend Tax Amnesty Period Read More »
No doubt, Nigeria is blessed with abundance of natural and human resources. Nigeria has a population of about 186 million people. Of this number, about 77 million were employed as at 2015 according to the National Bureau of Statistics (NBS). Furthermore, as released by the Joint Tax Board (JTB), only about 10 million people, out
A Case For A More Robust Approach To Boosting Nigeria’s Tax Revenues Read More »
A company incorporated under the Companies and Allied Matters Act, cap C20 LFN 2004 is accorded a distinct legal personality from its members. Whilst such a company pays tax on all its taxable profits, each member or shareholder pays tax on whatever accrued to him/her by way of dividend. It must be noted however at
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