Nigerian citizens are ready to pay their taxes given proper education and expenditure transparency on the allocation and application of resources by the government, according to a new survey by the Nigeria Economic Summit Group. The survey, Citizen Perception Report is the first of several research pieces to be published by the NESG Fiscal Policy […]
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) on Thursday commended the Federal Government for the removal of Value-Added Tax (VAT) on locally sourced Liquefied Petroleum Gas (LPG). The NALPGAM President, Mr Nosa Ogieva-Okunbor, said on Thursday in Lagos that the Federal Government had approved the removal of VAT on LPG and gazette the
Indigenous airlines have been told to take the prompt payment of their charges to respective aviation agencies as a top priority in order for the industry to witness the expected growth. Grp. Capt. John Ojikutu (rtd), the Chief Executive Officer (CEO) of Centurion Aviation Securities in an interview with our correspondent in Lagos, said that
Aeronautic Charges, VAT Not Hindrance To Growth Of Domestic Airlines Read More »
The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has restated the agency’s commitment to eliminating multiple taxation in the country. Fowler said this at a tax breakfast seminar with the theme: “Tax Controversy and Dispute Resolution,’ organised by KPMG Nigeria in Lagos, recently. According to him, one thing the FIRS did when
All On, which is a seeded company of Shell, has advised Nigeria to initiate and implement a graduated and weighty tax system on the production, assemblage and importation of power generating sets that use diesel and petrol. This, it stated would buoy growth of off-grid renewable energy power sources in the country. All On also
Shell Advises Nigeria to Heavily Tax Petrol, Diesel Generators Read More »
The Executive chairman, Federal Inland Revenue Services leader (FIRS), Babatunde Fowler, has described tax education as a key factor to reducing the incessant tax controversies between the government and tax payers in Nigeria. This was even as he called on individuals and corporate bodies to always consult tax experts for professional guidance in every issue
Tax education, panacea to incessant tax controversies –Fowler Read More »
Julius Berger Nigeria Plc financial report for 2018 has shown an impressive performance in its revenue generation, taxes and returns to shareholders. Details of the company’s outing announced by the financial director, Mr. Martin Brack, showed that the Group’s revenue in 2018 increased by 37 per cent and profit – before- tax rose by 173
Julius Berger Records 173% Increase In Profit Before Tax Read More »
The FIRS is comfortably the largest revenue collection agency, responsible for petroleum profit tax (PPT) and the most important non-oil taxes. The revenue generation of the FGN can be judged on its performance. Its collection increased by 22% in 2017 and 32% in 2018 but remains short of budget and, more significantly, the level to
The power to levy tax in Nigeria, being a federation, is shared between the Federal, State and Local governments. To avoid double taxation, the tax system spells out which government unit (federal, state or local) has the power to levy tax on specific persons and matters. The Federal Inland Revenue Service Establishment Act 2007 provides
The Nigeria Anti-Corruption Vanguard has called on the Economic and Financial Crimes Commission, EFCC, to probe activities of Orion Agro Industries Nigeria Limited, manufacturing cigarettes in Ilorin Kwara State, considering the alleged interest of the Senate President, Bukola Saraki in the affairs of the company. It alleged that the firm was being allegedly used by
Tax: Anti-corruption group makes damning allegation against Saraki Read More »
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