Last tax season, you probably noticed your tax return looked significantly different than it did in prior years. The Tax Cut and Jobs Act that went into effect for the 2018 tax year brought some significant tax law changes including lower tax rates, elimination of personal exemptions and many itemized deductions, a larger standard deduction, […]

Those who make more money from the system will pay a more equitable share of their income as tax towards the public good. A clear roadmap to achieving this national imperative was outlined at the weekend in Abuja on the final day of the Federal Inland Revenue Service (FIRS) Management Retreat by paper presenters, discussants

The Chairman, Federal Inland Revenue Service (FIRS) Muhammad Nami has charged the staff of the agency to buckle up for the new accountable and fair tax regime that will make those who earn more to pay an equitable tax towards the public good. Nami who spoke at the launching of the Agency’s 2020 Corporate goals

Col. Hammed Ali (rtd) of the The Nigeria Customs Service has called on the federal government to broaden its excise tax net to include carbonated drinks.The Comptroller General of the Service, made the call at a public hearing by the House of Representatives Committee on Finance on Thursday.He said the move will help the service

The Federal Inland Revenue Service (FIRS) says it is targeting N8.5 trillion revenue for the country in 2020. The Executive Chairman of FIRS, Mr Muhammad Nami, disclosed this at the 2020 Corporate Plan Retreat in Abuja on Friday. Nami said that the 2020 target was slightly lower than the 2019 target by about N300 billion.

Guinness Nigeria Plc has lamented the impact of increased excise duties and reduced imports on its profitability. The company, in its financial statements for the six-month period ended December 31, 2019, said its operating profit declined by N1.08bn to N3.56bn from N4.64bn in the same period of 2018. It said the decline in its operating

The Minister of Communications and Digital Economy, Dr Isa Pantami, has asked subscribers who have expressed concern over the additional charges on voice calls, SMS and data to direct their grievances to the Federal Inland Revenue Service. Patanmi, in a statement on Thursday, said his office had been swamped with complaints and enquiries concerning the

On January 1 2020, the corporate tax reform entered into force. The Swiss cantons have some margin of discretion in the implementation of the legislation. Differing cantonal pecularities and characteristics are, hence, to be expected. With the enactment of the corporate tax reform, the cantonal tax privileges for holding, domicile and mixed companies were abolished.

Filing crypto taxes is not an option; its’ required by the tax law. If you are still under the impression that the IRS has no visibility into your crypto activity, read “How the IRS Knows You Owe Crypto Taxes” post. Whether you are a self filer or using a professional to file your taxes, this post

LONDON — Lawmakers on the island of Jersey have approved scrapping a decades-old law that prevented married women from talking to the tax authorities without the permission of their husband or filing taxes under their own names, a mechanism described by a local senator as “archaic.” Jersey, a small island in the English Channel a