An appeal has gone to the Nigerian elite, especially high-net worth individuals, to be more patriotic and desist from shirking in tax payment, under whatever guise. Making this appeal the Buhari Media Organization (BMO) said it is not proper for these “eminent” Nigerians to wait for the tax authorities to coerce them to perform their […]
Pay your tax willingly- bmo tasks Nigerian elite Read More »
The Kaduna Refining and Petrochemical Company, one of the country’s crude oil refineries that is run by the Nigerian National Petroleum Corporation (NNPC), is one of the highest tax payers to the government of Kaduna State, Mr. Nasir el-Rufai, the state governor has said. According to el-Rufai, the refinery which capacity utilization remained at zero
Underperforming Kaduna Refinery among Highest Tax payers to Kaduna State Government Read More »
The Katsina State Government said it would tax borehole owners and operators in the state as part of measures aimed at generating revenue for the state and also to address indiscriminate drilling of borehole by several private houses in the state without following due processes The State Commissioner for Water Resources, Alhaji Salisu Gambo Dandume,
Borehole operators, drillers to pay tax in Katsina Read More »
Shell Petroleum Development Company (SPDC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo) remitted $6.3 billion in 2018 to Nigerian government. The money which represented tax and production entitlement for the 2018 fiscal year and was paid to the Nigerian National Petroleum Corporation (NNPC), Federal Inland Revenue Service (FIRS), Department of Petroleum Resources (DPR),
Shell Petroleum Remits $6.3b to Nigeria For 2018 Tax, 48% More Than 2017 Read More »
FSDH Merchant Bank, yesterday, cautioned the federal government against the proposed hike in Value Added Tax (VAT) rate, even as it recommended measures for increasing VAT revenue by 218 percent. The bank, in its monthly Economic and Financial Market Outlook, stressed that the proposed increase in VAT rate to 10 percent from five percent will
FSDH advocates strategies to raise VAT revenue by 218% Read More »
The International Monetary Fund (IMF) has called on the federal government to end fuel subsidies in the country. It also urged them to create a timeline to recapitalise weak banks in the country. Concise News understands that the IMF said this at the conclusion of the IMF Executive Board 19 Article IV Consultation with Nigeria.
What IMF Told President Buhari About Fuel Subsidies, Increase In VAT Read More »
The Anambra State government has lamented that it is being owed as much as N600 million in tax by companies, schools, hotels and other business concerns operating in the state, most of which have bluntly refused to pay up. The Chairman of Anambra State Internal Revenue Service, Dr. David Nzekwu, stated this on Tuesday, during
Anambra Laments N600m Tax Debt by Firms, Begins Enforcement of Payment Read More »
THE International Monetary Fund (IMF) has said that Nigeria and other countries outside the Organisation for Economic Co-operation and Development (OECD) group lostabout $200 billion annually due to unfair global corporate tax system exploited by companies to shift profits to low-tax location. IMF President, Christine Largade disclosed this last week while speaking on Corporate Taxation
Tax: Nigeria, others lose $200bn per annum to unfair global corporate tax system —IMF Read More »
Mr Bharat Vora, a Plaintiff, on Monday prayed a Federal High Court in Abuja to award him N2 billion against the Federal Inland Revenue Service (FIRS) for shutting his business. Vora, the Managing Director of Mutunci Company Nig. Ltd., also asked for the refund of N7 million that he paid FIRS to re-open his factory
FIRS in N2bn lawsuit over alleged illegal shutdown of company Read More »
Federal Inland Revenue Service (FIRS) has issued a warning to defaulting taxpayers on the impending lien to be imposed on their bank accounts for non-compliance. In the publication issued, FIRS admonished business entities with annual banking turnover of ₦100million and above and those who have been collecting Value Added Tax (VAT) and deducting withholding tax
FIRS Warns Defaulting Taxpayers About Potential Restriction On Their Bank Accounts Read More »
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