Accounting

CAC restates commitment to ease business registration process

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 »

FIRS, Customs, NNPC Receive N191.34bn For Revenue Generation Cost

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 »

‘Raise audit standards to prevent fraud in banks, others’

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 »

We want to improve efficiency in collection of consumption taxes – LIRS boss

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 »

VAIDs: Companies Pressure President Buhari To Extend Tax Amnesty Period

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 »

A Case For A More Robust Approach To Boosting Nigeria’s Tax Revenues

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 legal view of corporate taxation in Nigeria

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

A legal view of corporate taxation in Nigeria Read More »

FIRS Allays Fear Over IMF, World Bank Reports

Nigeria’s economy will not collapse but continue to experience boom in spite of the International Monetary Fund’s (IMF), says the Federal Inland Revenue Service (FIRS). Chairman of the FIRS Babatunde Fowler stated this on Monday at the opening session of the 140th quarterly meeting of the Joint Tax Board. The IMF and World Bank had reported that any

FIRS Allays Fear Over IMF, World Bank Reports Read More »

CAC To Meet Customers, Other Stakeholders

The Corporate Affairs Commission has said customers and other stakeholders will examine issues being encountered in the course of company registration, among others, during its forthcoming forum. The CAC said in a statement that the second Customers’ Forum in the first quarter of the year would take place on Thursday in Ikeja, Lagos. It said

CAC To Meet Customers, Other Stakeholders Read More »

Capital Reconstruction: NSE Halts Trading in Prestige Assurance Shares

The Nigerian Stock Exchange (NSE) last Friday placed the shares of Prestige Assurance Plc on full suspension  to enable the Company’s Registrars update  the register of shareholders for the planned share capital reconstruction of the company. This implies that there will not be trading in the shares of the insurance firm for now. Prestige Assurance had last year made an

Capital Reconstruction: NSE Halts Trading in Prestige Assurance Shares Read More »

Scroll to Top
Loading...