Lagos – Union Bank Nigeria Plc on Tuesday says it recorded N15.5 billion profit before tax during the financial year ended Dec. 31, 2017. The information is in a statement signed by the Head of Corporate Affairs Communication, Ms Ogochukwu Ekezie-Ekaidem, after the 49th Annual General Meeting of the bank. Ekezie-Ekaidem quoted the Chairman of […]
On 26 March 2018, Nigeria’s President Muhammad Buhari approved the Nigeria-Singapore Double Taxation Agreement (DTA). It is expected that the DTA will be forwarded to the National Assembly for ratification. Read the full alert below: Download PwC Tax Alert_Nigeria Singapore DTA_
Nigeria signs avoidance of double taxation treaty with Singapore Read More »
The Federal Inland Revenue Service (FIRS) in its bid to continuously provide online real-time tax payment transactions, provided the online payment platforms and applicable payment options for taxpayers. The various platforms ensure transparency in tax payment system, boost taxpayer confidence, trust in the tax system and promotes voluntary compliance by taxpayers”. Electronic Payment Initiatives: The
FIRS; Simplifying Tax Compliance Through ICT Initiatives Read More »
File Photo Paying income tax used to be a joke in Nigeria which, no wonder, has the worst tax to GDP ratio in sub-Saharan Africa. As one banking executive put it: “In Nigeria, the government pretends to tax people and people pretend to pay. That’s the Nigerian social contract.” But these days it’s no laughing
The Federal Inland Revenue Service (FIRS), yesterday in Lagos sealed off the premises of two companies for their failure to pay taxes. The Assistant Manager (Legal), FIRS, Ruth Mandeun, who led the FIRS enforcement team, sealed Giandan Nigeria Limited situated in Lagos over tax debts totaling N47.779 million and also sealed Justeen International Limited over
FIRS seals two firms over N72.558 million tax debt Read More »
Iyalode Alaba Lawson, National president, National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), left; Cyriacus Ekechi, a Director of the Federal Inland Revenue Service (FIRS) and former VP, NACCIMA, at the tax conference organised by NACCIMA in Lagos…yesterday Financial experts have lamented the country’s tax to GDP ratio, describing it as one of
‘Nigeria’s tax: GDP ratio remains one of the poorest in Africa’ Read More »
Tunde Fowler Chairman of the Joint Tax Board (JTB), Mr. Tunde Fowler, yesterday, called on state governors to empower State Internal Revenue Services (SIRS) by making them autonomous. Fowler made the call at the 137th Meeting of the JTB in Ilorin.This was disclosed in a statement signed by Wahab Gbadamosi, FIRS Director of Communications and
Fowler tells governors to give state tax authorities autonomy Read More »
Babatunde Fowler, FIRS Boss Federal Inland Revenue Service boss Babatunde Fowler spoke, in an interview, on tax issues, especially the Voluntary Assets and Income Declaration Scheme (VAIDS). Paula Eseghene reports. The grace period for tax defaulters is end of this month. What follows the deadline? What follows the deadline is that we shall follow the
The Federal Inland Revenue Service (FIRS), Joint Tax Board (JTB) and the Small and Medium Enterprises Development Agency (SMEDAN) have sensitised Business Membership Organisations (BMOs) on tax payment and their rights as taxpayers, in a move aimed at stimulating the economy. The Executive Chairman of FIRS and Chairman, JTB, Tunde Fowler, said the Micro, Small and
Four four-star hotels in Lagos, Delta and Rivers states were among a group of 19 companies across Nigeria sealed by the Federal Inland Revenue (FIRS) over non-remittance of tax. The FIRS noted that the companies which range from hospitality outfits to oil and gas companies and manufacturing companies were sealed over their failure to fulfil
FIRS Seals Four Hotels, 15 Other Companies Over N5.7bn Tax Debts Read More »
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