The Chairman, Akwa Ibom State Internal Revenue Service, Mr Okon Okon, has said the service will not spare any company, individual or agency found defaulting in payment of tax to the state government. He said anyone found defaulting in payment of tax would be prosecuted according applicable tax laws. Okon, who stated the new position […]
IGR: Akwa Ibom seeks prosecution of tax defaulters Read More »
The acting Chairman of the Manufacturers Association of Nigeria, Nasarawa State chapter, Mr Alfred Alogana, has expressed the body’s displeasure over the unfavourable tax regime in the state. He made special reference to the Gaseous Emission Tax, which manufacturers and producers of goods are subjected to by various agencies of the state government. Alogana stated
US President Donald Trump on Tuesday sued the Democratic-controlled House Ways and Means Committee, the New York state attorney general and a New York state tax official to block any potential efforts by lawmakers to obtain his state tax returns. Trump filed the lawsuit in federal court in Washington, D.C., alleging that House Ways and
Trump seeks court help block release of tax papers Read More »
Some investors in the Nigerian capital market have called on the federal government to extend the exemption of Value Added Tax (VAT) charges on transactions on the Nigerian Stock Exchange (NSE) so as to attract more patronage to the market. The federal government, had in 2014 exempted brokerage commission and transactionsfees charged by Securities and
Investors Want VAT Exemption in Stock Market Extended Read More »
As a means of fighting tax evasion, the Kenya Revenue Authority (KRA) has announced plans to install Electronic Tax Registers (ERTs) at business establishments in the country. The ETRs will grant KRA real-time access to invoices issued by traders around the country. By law, businesses with an annual turnover of at least Sh5 million will
Kenya’s revenue agency introduces electronic taxing system to curb evasion Read More »
The re-introduction of Value Added Tax charges on transactions in the Nigerian capital market takes effect from today, July 25, 2019. The VAT charges on transactions in the capital market were suspended in 2014 by the then Minister of Finance, Dr Ngozi Okonjo-Iweala, to encourage increased trading activities in the market. Okonjo-Iweala had set up
VAT Charges on Capital Market Transactions Resume Today Read More »
Oxfam in Nigeria has called on the federal government to fast-track action on the approved new National Tax Policy in order to tackle corporate crimes. Oxfam Country Director, Constant Tchona, made the call in Abuja at the public unveiling of the ‘Fair Tax Index report and the Commitment to Reducing Inequality Index (CRII)’ report, with
Oxfam Urges FG to Fast-track Action on New Tax Policy Read More »
The Federal Inland Revenue Service (FIRS) and the Tertiary Education Trust Fund (TETFund), have concluded plans to generate more funds through the education tax collection from non-oil sector to finance tertiary institutions and their various projects. TETfund’ Executive Secretary, Suleiman Bogoro, speaking at an interactive forum for stakeholders, themed: “Mitigating the Challenges of Education Tax
FIRS, TETfund to generate more fund for tertiary institutions Read More »
Failure of Midwestern Oil and Gas Company Limited to pay the outstanding tax liability due to the Federal Republic of Nigeria in the sum of $97,086,985.00.has prompted the Federal Inland Revenue Service to drag the company before a Federal high court in Lagos south west Nigeria. In an affidavit sworn to by Mr Ayodeji Jolaoso,
Failure to pay $97m tax: Midwestern Oil and Gas Company dragged to court Read More »
The Tax Appeal Tribunal sitting in Abuja, on Tuesday fixed Aug. 16, for Report of Settlement a suit filed by a company, “M FIFTEEN” Consultants against the Federal Inland Revenue Service (FIRS) and one other. The company dragged the FIRS, before the Tax Appeal Tribunal over alleged double taxation. Also joined in the suit are
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