Nigerian Tax

Bandits tax us before allowing us access to our farms – North-West farmers

Farmers in the North-West geopolitical zone have recounted their ordeals following the increasing rate of banditry and kidnapping, saying bandits have resorted to taxing them before they can have access to their farms. They said apart from this, most of them have been forced to abandon their farms, adding that except something urgent was done […]

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Stakeholders seek VAT increase, reintroduction of tollgates

In a bid to refloat the economy and escape another recession in the economy, stakeholders have proposed an increase in Value Added Tax (VAT) and reintroduction of toll gates on Nigerian roads. One of the stakeholders who is also the Lead Director of Centre for Social Justice,  Eze Onyekpere, advised President Muhammadu Buhari and the

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FIRS recommends a 63-day timeline for completion of tax audit exercises

The Federal Inland Revenue Service (FIRS), on 30 April 2019, notified the public that it has introduced new measures to simplify and ease tax audit experience for all taxpayers. The new measures are intended to: 1.    Reduce tax audit cycle to 63 days 2.    Eliminate multiple tax audits by various tax authorities 3.    Facilitate a

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Fowler: EFCC probing FIRS staff over ‘fraudulent payments’

The Economic and Financial Crimes Commission (EFCC) has launched a probe into the activities of some staff of the Federal Inland Revenue Service (FIRS). Babatunde Fowler, FIRS chairman, confirmed the development to TheCable on Wednesday saying the probe borders on alleged cases of irregularities concerning duty tour allowance (DTA). “On the DTA (Duty Tour Allowance),

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Fowler: Taxpayers’ Money Not Missing from FIRS

The Chairman of the Federal Inland Revenue Service (FIRS), Mr. Tunde Fowler, has dismissed reports suggesting that money paid as taxes is missing from the agency’s coffers. Fowler made the clarification in an interview in his office in Abuja, yesterday. The clarification came in the wake of media reports alleging that taxpayers’ money in the

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Nigeria: A nation pauperized by tax evasion

In 2017, the World Economic Forum (WEF) ranked Nigeria 125 out of 137 countries in its Global Competitiveness Report. The WEF survey found that Nigeria’s potential for structural change was impeded by inadequate investment in infrastructure, technology, higher education and innovation. Nigeria has long depended on oil as its economic mainstay with paltry attempts at

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