The Special Presidential Investigation Panel for the Recovery of Public Property (SPIP) is to panel with the Federal Inland Revenue Service (FIRS), to recover tax revenues from companies who hitherto have been evading payment. Ms Lucie-Ann Laha, the panel spokesperson in a statement issued in Abuja on Friday, said that the Panel Chairman, Mr Okoi […]
Tax revenue recovery: Presidential panel, FIRS partner Read More »
The Federal Inland Revenue Service (FIRS) in Ebonyi State has scored taxpayers in the state high on compliance. The revenue agency said although majority of taxpayers in the state are civil servants, they have been remitting their tax into government coffers accordingly. Speaking in an interview in Abakaliki, Kenneth Effiong, tax controller, Abakaliki MTSO FIRS,
Ebonyi FIRS scores taxpayers in the state high on compliance Read More »
The Australian Taxation Office has hit the British-Dutch oil giant Shell with a bill estimated at $755m as it continues to pursue multinational resources giants over claims they have avoided paying tax on offshore gas projects. Court documents reveal Shell’s main Australian company, Shell Energy Holdings Australia, has been fighting the ATO for six years
HE statement by Mr Babatunde Fowler, executive chairman of the Federal Inland Revenue Service (FIRS), that the service may, as from next year, ask banks to charge customers five per cent Value Added Tax (VAT) on online purchases leaves much to be desired. Though VAT is legal, being a product of the nation’s laws, its
When taking a fresh look at new technology capabilities and related operating models, chief financial officers (CFOs) may find that they can have it all – a high performing, efficient tax department that’s tightly integrated with finance and the rest of the organisation. By Mark Freer, digital leader for Deloitte Africa Tax & Legal. An
Why analogue tax solutions won’t work in the new digital reality Read More »
Romania announced Tuesday plans to levy a tax on sugary soft drinks to combat obesity, following the lead of other European countries such as France. “This tax is aimed at discouraging consumption (of sugary drinks) and increasing public revenues, which could be spent on health and education,” the finance ministry said in a document made
The tax exemption benefit given to industrial units inside the economic zones has created disparity between factories outside the industrial enclaves, raising fears of uneven competition among firms producing the same products. The National Board of Revenue in 2015 declared tax benefit on income of businesses inside the economic zones for 10 years based on
Withholding tax is an advance payment of income tax – Companies Income Tax (CIT) and Personal Income Tax (PIT). Withholding tax is deducted at source when payments are made to companies or individuals. Tax withheld from payments to a company or an individual is a tax credit or withholding tax credit, which is used to
Plateau state Internal Revenue Service has announced that it has recovered from the Federal Ministries, Departments and Agencies (MDAs) outstanding Tax Liabilities through the joint collaborating efforts of joint tax board to the tune of N2.6 billion being part payment of their tax liabilities to the state. Arlat Dashe Dasogot, Executive Chairman of the state
Individuals and business owners who make profits from businesses, but refuse to pay taxes, are criminals and economic saboteurs, the Chairman of the Federal Inland Revenue Service (FIRS), Tunde Fowler, has said. The FIRS Chairman was reacting to insinuations that the FIRS’ decision to place a lien on peoples’ accounts for refusing to take advantage
Tax evaders are criminals, economic saboteurs – FIRS Chairman Read More »
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