The leader of Sufficient Grace and Truth Ministry, Okinni, Osun State, Bishop Seun Adeoye, has alleged that the state government is planning to tax religion houses in the state. Addressing a press conference in Osogbo, Adeoye, who is spokesman for the African World Bishops Council, said on Wednesday that the state Internal Revenue Service had […]
Kano State Governor Dr. Abdullahi Umar Ganduje said his administration would explore avenue provided by the Tax Appeal Tribunal to ensure quick resolution of tax matters in the State. He stated this on Monday while declaring open a one-day Stakeholders’ Forum organized by the Tax Appeal Tribunal Northwest Zone, held at Tahir Guest Palace. Ganduje
Lagos State Government has revealed that of the 4.8m registered taxpayers only about 700,000 are paying. It, therefore, implored residents to perform their civil responsibility of paying taxes, alongside actively participating in the governance process. The Commissioner for Economic Planning and Budget, Mr. Samuel Egube stated this at the Year 2020 Budget stakeholders’ meeting for
Lagos says only 700,000 of 4.8m registered taxpayers remit taxes Read More »
The Society of Women in Taxation (SWIT), Lagos State Chapter, has rolled out plans to enhance tax payments in the country as part of its commitment to growth and development. The society disclosed this during the investiture of its third Lagos state chairperson in Lagos, recently. Speaking, the newly sworn Chairperson, Dr. Titilayo Fowokan stated
Federal Government has given a 30-day window to high profile tax defaulters to regularise their tax status with the Federal Inland Revenue Service (FIRS), failing which they risk forfeiting the tax equivalent directly from their bank accounts to the Federal Government The FIRS Executive Chairman, Tunde Fowler, dropped the hint on Thursday when he appeared
FG reveals what banks will do to accounts of tax defaulters Read More »
ARMED with a twin-argument on the need to raise revenue and match the continental standards, the Federal Government is about to implement a hike in value-added tax rate from five per cent to between 7.2 and 7.5 per cent. First, the Minister of Finance, Budget and National Planning, Zainab Ahmed, said the sub-national governments in
The Minister of Finance, Budget and National Planning, Zainab Ahmed, proposed that Nigeria’s VAT be increased from 5% to 7.2%. This has caused a lot of counterblast with labour unions and some experts protesting the proposal. What most people do not know is that Nigeria is one of the countries in the world with the
Dr Samuel Nzekwe, a former President, Association of National Accountants of Nigeria (ANAN), has advised the Federal Government to intensify efforts in implementing the five per cent Valued Added Tax (VAT) rather than increasing it. Nzekwe gave the advice in an interview with the News Agency of Nigeria (NAN) in Ota, Ogun, on Saturday. Nzekwe
Tax authorities in the country have been warned against scaring off foreign investors from the country in their efforts to shore up government revenues. The Managing Consultant, Pedabo Associates Limited, Mr Albert Folorunsho, said the global tax compliance drive would have implications for Foreign Direct Investment in Nigeria. Folorunsho stated this while delivering a keynote
Tax authorities warned against scaring foreign investors Read More »
Experts and groups such as the Nigeria Employers’ Consultative Association have said the recent increase in the Value Added Tax rate from five per cent to 7.2 per cent will lead to closure of many businesses. The Head of Tax and Corporate Advisory Services at PricewaterhouseCoopers, Taiwo Oyedele, said the new VAT rate would shrink
VAT hike will kill businesses, shrink GDP – Experts Read More »
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