Stakeholders in the telecommunication industry are calling on the Federal Government to give an executive order that will stop state and local governments from imposing multiple and punitive levies on infrastructure. They said the issue of multiple taxes had defied all level of engagements held with the state governments, lingered for too long and limiting […]
Telecom Operators Seek Executive Order to Stop Multiple Taxes Read More »
Stakeholders have rejected plans by the Federal Inland Revenue Service (FIRS) to tax online transactions, saying it will amount to double taxation. Chairman of FIRS, Mr Babatunde Fowler, yesterday, while speaking in New York, told the News Agency of Nigeria (NAN) that the agency will soon begin collection of Value Added Tax (VAT) on online
Stakeholders Oppose FIRS Bid To Tax Online Transactions Read More »
The Federal Inland Revenue Service generated N1.5 trillion revenue in the first quarter of 2019, according to its Chairman, Mr Babatunde Fowler. Fowler disclosed this to the News Agency of Nigeria in New York at the weekend. He said the amount included revenue from non-oil taxes that were 11 per cent higher than what the
FIRS posts N1.5tn revenue in Q1 of 2019, Fowler says Read More »
The Federal Inland Revenue Service has said that it will soon begin the collection of Value Added Tax on online transactions. The Chairman of the agency, Mr Babatunde Fowler, made the disclosure in an interview with the News Agency of Nigeria in New York on Saturday. Fowler said, “Soon, we will ask banks to impose
FIRS to begin collection of VAT on online transactions —Fowler Read More »
Nigerian airlines have called on the federal government to review its tax policy for the sector as well as the cost of aviation fuel, in order to reduce cost of flight operations and ensure they remain in business. The operators said many airlines that went under in the last few years were due to high
The Executive Chairman, Federal Inland Revenue Services, FIRS, Mr Babatunde Fowler, has blamed ignorance of taxation rules for the incessant controversies between taxpayers and government. Fowler, expressed this view at the KPMG Tax Breakfast Seminar in Lagos, with theme, ‘Tax Controversy and Dispute Resolution’. He counselled taxpayers to consult experts in tax issues to avoid
Ignorance major cause of tax controversy — Fowler Read More »
A major national lesson for the government and citizens of Nigeria over the last five years is that oil revenue, on which the country is almost totally dependent to fund development, cannot be relied upon to take the country to its desired developmental destination. For decades, local and international economic observers had cautioned against near-total
The Nigeria Economic Summit Group has said that about 70 per cent of Nigerians believe that it is not wrong to pay tax. The NESG disclosed this during its Fiscal Policy Roundtable event in Lagos, while launching its Citizen Perception Report, a research advocating better tax system in the country. The Fiscal Policy Roundtable co-chair,
The Tax Appeal Tribunal on Tuesday adjourned until July 17, hearing in the suit filed by Joseph Daudu, SAN, challenging alleged N1.2 billion error in taxation. Mr Daudu (appellant) said he was dissatisfied with Federal Inland revenue Service (FIRS) assessments of his Withholding Tax (WHT), Personal Income Tax and Value Added Tax (VAT) for the
N1.2 billion tax error: Tribunal to hear ex-NBA President’s suit July 17 Read More »
Chief Executive Officer of the Nigeria Financial Intelligence Unit (NFIU), Modibbo Hamman Tukur, has commended the Federal Inland Revenue Service (FIRS) for revolutionizing tax administration in the country. Tukur said this during his courtesy visit to the Chairman of FIRS, Mr. Tunde Fowler, in Abuja yesterday. He also promised that tax compliance would soon become
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