A court in Abuja on Thursday blocked an attempt by Zinox Technologies Limited to suppress press freedom and stop PREMIUM TIMES from continuing its reporting on the allegation of N170 million contract fraud against the computer firm. In its ruling on the motion by Zinox Technologies seeking an injunction to restrain PREMIUM TIMES from further […]
N170m FIRS Contract Fraud: Court stops Zinox Computers’ from gagging Read More »
NO PERSON/FIRM CAN COLLECT TAX/LEVY ON BEHALF OF ANY GOVERNMENT IN ANY PART NIGERIA. Taxes/Levies are serious issues in any part of the world. They are created by government and their prices/amounts are certain and predictable. In Nigeria, all taxes/levies must be created by law and be assessed and collected by either Federal, State or
No Person/Firm Can Collect Tax/Levy On Behalf Of Any Government In Any Part Nigeria Read More »
Personal income tax act is a topic everyone should know, whether you are an employee or an employer. Taxation is a crucial part of the everyday life of every person. We encounter taxes everywhere: at work, in a supermarket, and even at home. However, personal income tax is the most important of them. We have
Personal income tax act in Nigeria: things everyone should know Read More »
The National Bureau of Statistics (NBS), has said that the Nigerian manufacturing sector contributed about N864 billion of the N3.63 trillion generated as Value Added Tax (VAT) between 2013 to 2018. The NBS report on Sectoral Distribution of VAT showed that the manufacturing sector’s contribution represented 24 per cent of the total VAT generated within
VAT: Manufacturing sector contributes N864bn in 6 years –NBS Read More »
The Society of Women in Taxation (SWIT), Lagos Chapter, has stressed the need for improved tax revenue for national development. The group, an arm of the Chartered Institute of Taxation of Nigeria (CITN), which made this known during an event held in Lagos recently, said there was need to raise awareness on tax payment. In
Group Seeks Increased Tax Revenue for National Development Read More »
Nigeria earned N3.72 trillion from royalties and petroleum profit tax, PPT, in the oil and gas sector in 2018, according to data obtained from the Central Bank of Nigeria, CBN. The CBN, in its Economic Report for the Fourth Quarter of 2018, stated that the amount the country earned from royalties and PPT in 2018
Nigeria earns N3.72trn from royalties, petroleum tax in one year. Read More »
The Association of Licensed Telecommunications Operators of Nigeria has lamented the huge tax burden telecoms operators bear as a result of statutory and non-statutory taxes and levies from government agencies. The Secretary, ALTON, Mr Gbolahan Awonuga, said in a statement that the cost of doing business in the country was enormous despite the Ease of
Multiple taxes makes business difficult — Telcos Read More »
NIGERIA’s deepening frustration in her bid to boost non-oil revenue is a self-inflicted morass. Apparently finding it difficult to meet its revenue projections, the Federal Inland Revenue Service has vowed again to clamp down on wealthy tax evaders. The FIRS chairman, Babatunde Fowler, recited this mantra at his inaugural meeting with the acting Inspector-General of
Financial experts have urged the Federal Inland Revenue Service (FIRS) to evolve effective communication and engagement mechanism with taxpayers to sustain economic growth. Speaking in Lagos recently, director-general of the Lagos Chamber of Commerce and Industry (LCCI), Mr Muda Yusuf said that imposing a tax lien should be a last resort of FIRS to force
Experts Task FIRS On Robust Communication With Taxpayers Read More »
The President and Chairman of Council, Chartered Institute of Taxation of Nigeria, Chief Cyril Ede, has said that part of the functions of the institute is to educate people on taxation. Ede said this during a tax forum for corporate and professional women with the theme, ‘Building a new Nigerian tax culture through women’ organised
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