UPDATE! Recently, the Tax Appeal Tribunal (TAT) sitting at Enugu held that due process must be followed by tax authorities in demanding payment of taxes from taxpayers. This decision, made in the case of Polaris Bank PLC v Abia State Board of Internal Revenue (ABIR), reassures taxpayers that the tax authorities cannot impose demand notices […]
TAX AUTHORITIES CANNOT IMPOSE ARBITRARY ASSESSMENTS ON A TAXPAYER Read More »
Imo State governor, Emeka Ihedioha has said that less than five per cent of the state’s workforce of over two million pay taxes, saying that such a situation is unsustainable and unacceptable. Ihedioha, who stated this at the occasion of his 100 days in office, also banned tax payments in cash throughout the state and
Less than 5% Imo workers pay taxes, says Ihedioha Read More »
The Centre for Social Justice on Thursday said the decision of the Federal Government to increase the Value Added Tax from the current rate of five per cent to 7.2 per cent would increase revenue needed to finance the budget. The Lead Director, CSJ, Eze Onyekpere, said this in a statement issued in Abuja. In
Google is to pay French authorities almost €1bn (£900m) to end a long-running investigation into its taxes. The settlement includes a €500m fine and additional taxes of €465m, but it is less than the tax bill authorities had accused Google of evading. It rounds off a four year investigation that saw authorities raid Google’s Paris
Value Added Tax (VAT) is a consumption tax levied at each stage of the supply chain and ultimately borne by the consumers. The tax was introduced in Nigeria in 1993 via the Value Added Tax Act (VATA), after a recommendation by a study group that was set up in 1991 to review the Country’s entire
The Executive Chairman, Federal Inland Revenue Service, (FIRS) Babatunde Fowler has warned the nation’s accountants not to support tax evaders but to assist in building a larger revenue base for the nation. At the 49th Annual Conference of the Institute of Chartered Accountants of Nigeria, ICAN, where Fowler was the keynote speaker at a panel
Fowler, Accountants Discuss Improved Revenue Base At ICAN Conference Read More »
ICC has published an inaugural issues brief on World Trade Organization negotiations on the trade-related aspects of e-commerce. The issues brief – the product of extensive consultation with businesses across a range of sectors participating in or affected by the digital economy – will form part of a series of briefs by ICC to assist
ICC warns of risk to MSME growth posed by complex indirect tax regimes Read More »
Taxman has invited bids for a new system to monitor online transactions between merchants and their customers. Kenyans transacting goods and services online will soon begin paying income tax and Value Added Tax (VAT) as the Government moves to implement the controversial digital tax. The Kenya Revenue Authority (KRA) has kicked off the search for
Oyo state government on Tuesday September 10, 2019 has declared that it has concluded plans to begin the collection of informal sector tax with the use of mobile apps adding that the annual collection of tax, particularly from traders, markets operators and artisans takes immediate effect. The Chairman of Oyo State Internal Revenue Service, Aremo
The Economic and Financial Crimes Commission, on Tuesday, arraigned a whistleblower, Lord Edem, before the Lagos State High Court in Ikeja for raising a false alarm over an alleged N700m pension and tax evasion fraud. Edem was arraigned before Justice Hakeem Oshodi on one count of making a false statement to a public officer. He
Pension, tax fraud whistleblower arraigned for false alarm Read More »
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