The overhaul of the federal tax law in 2017 was the signature legislative achievement of Donald J. Trump’s presidency. The biggest change to the tax code in three decades, the law slashed taxes for big companies, part of an effort to coax them to invest more in the United States and to discourage them from […]

According to data obtained from the Central Bank of Nigeria (CBN), Africa’s biggest oil producer has exceeded its revenue target for 2019, racking in a total of N4.6 trillion from Petroleum Profit Tax (PPT) and Royalties in Nigeria oil and gas sector in the first eleven months of 2019, According to the proposed budget of

The acting Director-General of the Securities and Exchange Commission (SEC), Mary Uduk, has disclosed that outdated accounts would be suspended as SEC makes effort to settle unclaimed dividends in the capital market. Ban on outdated accounts: Uduk said new initiatives would be implemented to curb unclaimed dividends in 2020. She also said that to resolve all issues and

It is pertinent to highlight that, save for the positive net flows recorded in August and September, foreign investors have been net sellers of Nigerian equities in every other month in 2019, suggesting that their appetite for Nigerian risky assets has been largely underwhelming. In our view, we think absence of structural reforms in strengthening the resilience

The Federal Government of Nigeria has stopped the additional N50 charge currently being imposed on transactions carried out through Point of Sales (POS) Terminal. In a directive issued by the Federal Competition and Consumer Protection Commission (FCCPC) on Tuesday obtained by Nairametrics, the recent circular released on POS transactions’ charges by the Central Bank is to

Recurrent expenditure takes 95 per cent revenue • Budgetary projection plunges by N218b in one month The country’s quest to overcome growth and development challenges will remain a mirage as government continues to prioritise huge consumption above capital investments, says a report by the Central Bank of Nigeria (CBN).In November, the Federal Government spent 95.9

President Muhammadu Buhari is expected to assent to the Finance Bill 2019 passed recently by the National Assembly. The bill was submitted by the president alongside 2020 budget proposal to the National Assembly. It will amend several existing legislations when signed into law. Below are the seven taxes the Finance Bill 2019 seeks to amend

The Federation Account Allocation Committee (FAAC) has shared to the Federal Government, States and Local Government Councils a total of N635.826 billion as federal allocation for the month of November 2019. This amount, which was shared at the FAAC meeting in Abuja yesterday, N66.232bn less than N702.058 shared for October this year. ADVERTISEMENT The amount

The Senate on Wednesday confirmed the nomination of Muhammad Nami and 13 others as Executive Chairman and board members of the Federal Inland Revenue Services (FIRS). The confirmation of followed a report of the Committee on Finance and consideration of same at the Senate Committee of the Whole. President Muhammadu Buhari had forwarded the list

In a statement released on Tuesday by Wahab Gbadamosi, FIRS’ head of communication and servicom, the tax agency advised tax defaulters to pay up. The statement quoted Abiodun Aina, acting executive chairman of FIRS, urged defaulters to settle their tax liabilities to avoid any inconveniences or interruptions in their operations. “The FIRS hereby informs all