Taxpayers who have slipped into willful or inadvertent dormancy have been charged to resume their payment of relevant federal taxes to avoid paying the steep penalties for tax default contained in the 2019 Finance Act. Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, offered this advice in Lagos on Thursday as he concluded his […]

The Federal Inland Revenue Service has assured taxpayers who pay their tax returns three months before their due date, that they will get the benefit of early payment and prompt action by receiving a 2% reduction on the amount payable. Chairman of the Service, Mr. Muhammad Nami, disclosed this on Thursday in Lagos as he

SACRAMENTO —   OK, I’m waiting to hear about the tax increase that will be needed to pay for Gov. Gavin Newsom’s ambitious plan to solve homelessness. A tax hike is inevitable, but the T-word was conspicuously missing from Newsom’s frequently applauded State of the State address on Wednesday to a joint session of the California Legislature,

This story was originally published by ProPublica, a nonprofit newsroom that investigates abuses of power. Sign up for ProPublica’s Big Story newsletter to receive stories like this one in your inbox as soon as they are published. On Dec. 30, the IRS announced it was revamping a long-standing agreement with the online tax preparation industry in which companies offer free filing

The 2017 Tax Cuts and Jobs Act eliminated a number of key tax deductions that once helped Americans save thousands. But thankfully, there are plenty of deductions still in play, and if you’re currently in the process of putting together your 2019 return, here are a few expenses you can still write off. 1. Mortgage interest The

The finance minister claimed that the rate of consumption of sugary drinks in the Indonesian society is getting higher amid growth of the public revenue. Imposing excise tax on them is expected to reduce the number of diabetes cases in the country, one of the main causes of death among Indonesians. “Many countries have imposed

The time is now for both public and private companies to take advantage of the opportunities provided by the extensive tax reform in 2017 from the Tax Cuts and Jobs Act (TCJA), according to Grant Thornton. The Act revolutionized tax planning for public businesses, and the provisions for private businesses required significant subsequent interpretations from

The Federal Inland Revenue Service (FIRS) on Tuesday solicited the support of Lagos Inland Revenue Service (LIRS) to meet the N8.5trillion target given to it by President Muhammadu Buhari to fund the 2020 budget. It also said some multinational companies refused to declare their profits, thereby defaulting in tax payment since 2011. It called for

The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, has called on all tax collecting agents in the public and private sectors to make correct collection and prompt remittance of all collectable taxes high priority so that Nigeria can derive maximal benefit from the 2019 Finance Act. Mr. Nami gave made this call

Babatunde Fowler, executive chairman of the Federal Inland Revenue Service (FIRS), has been elected president of the African Tax Administration Forum (ATAF). At the election, which held in Pretoria, South Africa, on Wednesday, Fowler polled 13 votes ahead of the four secured by his Togolese opponent. In his acceptance speech on behalf of Nigeria, Fowler