The Federal Government says, it has paid N135 billion of all outstanding PAYE tax liabilities owed by Federal Ministries, Departments and Agencies (MDAs) for 14 years to various states government. The Chairman of Joint Tax Board, Mr Tunde Fowler, said this at a programme tagged; “Go-Live’’ for the New National Tax Identification Number (TIN) Registration […]

The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has projected that in the next three years, Nigeria’s non-oil revenue will be at about 75 per cent. He also anticipated that within same period, the number of tax payers in the country would have risen to over 60 million. Fowler, said this during

Tunde Fowler, Chairman, Federal Inland Revenue Service (FIRS) has announced the possibility of the agency to increase the country’s tax base by over 100 percent to 45 million before the end of  Q3 2019, a target which would hopefully expand the country’s low tax revenues. Nigeria’s has a low tax base currently put at about

All over the world, taxation is the means of funding government businesses. The fiscal and monetary policies of any government are essentially the use of taxation in combination with other policies to regulate the economy. But taxation policy of government is not only to raise funds, it is also to grow the economy. Taxation can

The Nigerian Communications Commission (NCC) has said multiple taxation and regulation of the telecoms industry discourage investments and deny government of long-term revenues as well as destroy the foundations for future growth. The Executive Commissioner (Stakeholder Management) of the NCC, Sunday Dare, disclosed this on Thursday during the South-East edition of the NCC Stakeholders’ Parliament

The absence of a witness for the Attorney General of the Federation   on Wednesday forced the Federal High Court in  Lagos to adjourn till October  for hearing of    a  suit filed by MTN Nigeria Communication Limited  against  the AGF over N242bn  and $1.3bn import duties and withholding tax assessments. The telecommunications company, in the suit

The deadline for filing of income tax and transfer pricing (TP) returns with Federal Inland Revenue Service (FIRS) is fast approaching for corporate taxpayers whose financial year-end is 31 December. The Companies Income Tax Act (CITA) and Income Tax (Transfer Pricing) Regulations 2018 (the TP Regulations) require corporate taxpayers to file annual companies income tax