Trouble is brewing for recalcitrant tax evaders in Nigeria, as the Minister of Finance, Mrs Zainab, Shamsuna Ahmed, on Friday inaugurated the Steering Committee for “Project Lighthouse” in line with government’s blueprint to aggressively collect more taxes and grow its non-oil revenue base. Project Lighthouse is an initiative which entails using advanced data mining and […]

The Minister of Finance, Mrs Zainab Ahmed on Friday in Abuja, inaugurated a steering committee for ‘Project Lighthouse’ initiative. ‘Project Lighthouse’  is the government’s data mining unit in the Federal Ministry of Finance, saddled with the responsibility of  compiling data of tax payers during the implementation of the Voluntary Asset and Income Declaration Scheme. The

The publisher of National Daily Newspaper, Sylvester Ebodaghe, has questioned the National Assembly on the new guidelines released for the accreditation of journalists. Ebodaghe during an interview on Channels Television’s breakfast programme, Sunrise Daily, said it is not the job of the Parliament to demand a journalist’s tax clearance before authorizing them to cover plenary.

The immediate past National President/Chairman of the Council of Association of Professional Bodies of Nigeria, Mr Gabriel Fasoto, has disabused the minds of many young tax practioners when he said the practice of taxation as a profession is a distinct discipline from accountancy. The past president, Chartered Institute of Taxation said the clarification was necessary

The Executive Chairman, Federal Inland Revenue Service (FIRS) Mr. Tunde Folwer, has stated that revenues generated through taxation and borrowing would play a key role in supporting State Governments to finance their expenditure infrastructure and social services. Fowler, who disclosed this yesterday in Lagos at the Maiden Edition of the Nigeria Corporate Services with theme:

With the price of oil tumbling drastically to $48.86 per barrel in October 2015, after which it slid further to $44.82 the following month and $37.80 in the last month of the year, the signs were bold that Nigeria was facing a major economic crisis. The implication of the slump in revenue derivable from oil,

The Federal High Court sitting in Lagos, on Tuesday, 21st May 2019, has for the umpteenth time held that only members of the CITN can practice taxation in Nigeria pursuant to the relevant provisions of the CITN Act.  This was the outcome of the suit instituted in 2018 by five members of ICAN by way

Benue State Internal Revenue Service (BIRS) has fingered politicians, traditional rulers and local government officials in the state over collection of illegal taxes in the state. It also said that no fewer than 76 persons had so far been arrested by the board in connection with the setting up of illegal road blocks in the

AS the first term of President Muhammadu Buhari winds up within the next nine days, it is understandable that Nigerians are looking back at the passing four years to see if (and where) the “change” the ruling All Progressives Congress, APC, promised showed up beyond mere propaganda. While the regime’s performance in the economic sector

The Federation Accounts Allocation Committee (FAAC) has queried revenue shortfall of about N26.7 billion cby the Federal Inland Revenue Service (FIRS). The amount is in variance to the balance in the Central Bank of Nigeria (CBN’s) coffers. The difference in the figure spread across revenue channels under the purview of FIRS. These include the Petroleum