The Lagos State Internal Revenue Service (LIRS) has shut about 16 companies  in the state over their failure to remit N126.19 million consumption tax to the commercial hub of the nation.   This was disclosed by the agency’s Director of legal services, Seyi Alade. According to him, the companies have been barred from operating their businesses until their tax liabilities have been […]

The federal government has finally put to bed the controversy over who will collect stamp duty has finally been rested. Henceforth, the Federal Inland Revenue Service (FIRS) will be the sole collecting agency of stamp duty in the country. Before now, the Nigeria Postal Service (NIPOST) had protested to the Minister of Finance demanding that

THE UK Budget is due on March 11t and will have consequences for us all for sure, whether it be the short, medium or long term. It will no longer be delivered by Sanjid Javid. Instead it is likely to be delivered by Mr Cummings….ooops, Rishi Sunak, who was surprisingly on hand to be available

We’ve obviously got the Common Reporting Standard that continues to be implemented, and that’s obviously now up and running with exchange of information now taking place between signatories to that regime. So that’s the first point. Secondly, we’ve got the BEPS regime, the ‘Base Erosion and Profit Shifting’ regime, that is again now taking effect,

Boris Johnson is preparing to dismiss initial demands by Brussels for the UK to abide by EU rules on tax and workers’ rights after  Brexit The Prime Minister is to declare the EU’s demands to be unreasonable and ridiculous ahead of Brexit trade talk, a Government source claims as the UK prepares to start negotiations. A new Brussels blueprint says

The strengthening of institutions saddled with responsibility of generating income for the government As part of his effort to lay a solid foundation towards economic prosperity, President Muhammadu Buhari, on January 13, signed into law the hitherto Finance Bill, which basically came as a child of necessity, and which among other things, focuses on generating

The Academic Staff Union of University is asking the Federal Government of Nigeria a simple question. Why NNPC, NIDC, CBN, FIRS and other lucrative revenue parastatals are not in the Integrated Payroll and Personnel Information System, IPPIS? While up to today there is no sufficient answer from the side of government regarding this question raised

The federal government has clarified that  deposits into savings accounts that is up to N10,000 are not exempted from the payment of N50 stamp duty under the Finance Act of 2020. Director General of Budget Office of the Federation, Mr. Ben Akabueze, said in Lagos at the weekend that the Finance Act, 2020 did not

In a bid to ensure total tax compliance in the country, the Federal Inland Revenue Service (FIRS) has disclosed plans to put new policies in place. The disclosure was made by the FIRS Executive Chairman, Muhammad Nami during the KPMG Tax Breakfast Seminar. According to KPMG Tax Consultant, Victor Adegite in a series of tweets, Nami said

The number of tax refunds issued so far this tax season is down almost 5% compared to last year, an indication that many Americans didn’t withhold enough from their paychecks and could face bills from the IRS. The IRS issued more than 10.8 million tax refunds through the week ending in Feb. 7, according to