President Muhammadu Buhari has given the 36 state governments a mandate to increase revenues in their respective States. Buhari also urged the governors to raise the Value Added Tax (VAT) without necessarily disrupting economic activities. Buhari, who spoke at the Presidential Villa in Abuja when he inaugurated the National Economic Council (NEC) for its 2019-2023 […]
As part of efforts to strategically sanitize and coordinate the tax system of the third tier of Government in Uyo, the Chairman of Uyo Local Government Council, Elder Imoh Okon, on Wednesday, June 18, took to Akpan Andem Market to interact with Market Women. The Chairman, Uyo Local Government Council, Elder Imoh Okon, with traders.
Uyo Local Government Move to Strengthen Tax System Read More »
The Tax Appeal Tribunal, sitting in Abuja on Wednesday, reversed N29.2 million Federal Inland Revenue Service’s (FIRS) imposed as value added tax on Infinity Trust Mortgage Bank. The bank had challenged FIRS’s imposition of the amount at the tribunal challenging the demand notice. The tribunal chairman, Alice Iriogbe, delivering judgment, held that FIRS failed to
The Institute of Chartered Accountants of Nigeria has again accredited the Accounting/ Accountancy programme of Moshood Abiola Polytechnic, Abeokuta (MAPOLY). ICAN certificate dated 10th May, 2019 which was presented to the Rector of the Polytechnic, Dr. Samson Adeola Odedina, certified that MAPOLY has fulfilled all the requirements by the Institute for the accreditation of Accounting
ICAN accredits Mapoly’s Accountancy programme for another 3 years Read More »
Tax credits are much welcome, and often invaluable additions to any organization’s finances. A tax credit is the amount of money that taxpayers can subtract from their taxes. They differ from tax deductions and exemptions in that while they reduce the amount of your organization’s taxable income, tax credits reduce the actual amount that you
Five Ways To Get Better Tax Credit For Your Organization Read More »
The Ebonyi State Government has ordered the sealing off of the popular building materials’ market, on Afikpo Road, Abakaliki, the state capital. The order to seal off the market, which was given by Governor David Umahi, followed the refusal of the traders to pay income tax. Umahi, who directed the Secretary to the State Government
Ebonyi seals building materials’ market over unpaid tax Read More »
The two labour unions at the Federal Inland Revenue Service have reassured Nigerians, the Federal Government and FIRS management that they will ensure that the N8.8 trillion revenue target for 2019 is realised. Comrade Okere Samson, Chairman, FIRS chapter of the Association of Senior Civil Servants of Nigeria, and Comrade Idris Hassan of the Nigerian
A row has broken out in Tanzania over the government’s decision to impose a tax on wigs and hair extensions. Many male and some female MPs applauded and thumped their desks in approval when Finance Minister Philip Mpango announced the tax in parliament. Supporters of the levy say it will help women keep their hair
The Lagos State Internal Revenue Service (LIRS) has issued a public notice (the Notice) on its intention to integrate the LASG-EBS Taxpayer Identification Digit (PID) module into the National Tax Identification Number (TIN) system with the Joint Tax Board (JTB). The TIN module is biometrics-based, with the aim of ensuring identity uniqueness for taxpayers. The
LIRS To Introduce Unique Biometrics-Based Identifier For Taxpayers Read More »
Pioneer chief executive of the Asset Management Corporation of Nigeria (AMCON), Mustafa Chike-Obi, on Monday in Lagos reiterated the need for the Federal Government to harness the huge economic potentials inherent in taxation to raise revenue and effectively diversifying the economy from crude oil. This, he said, is possible if the tax net is expanded
Chike-Obi Urges FG To Expand Tax Net, Reduce Rate Read More »
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