The Corporate Affairs Commission (CAC) has stated that registration of business names is necessary for both companies and small scale businesses as any enterprises operating without registering with the Commission is liable to be sanctioned. Head of Bauchi State office of the Commission Alhaji Abdullahi Abubakar stated this, Thursday while speaking on the procedure and […]
Google is to pay French authorities almost €1bn (£900m) to end a long-running investigation into its taxes. The settlement includes a €500m fine and additional taxes of €465m, but it is less than the tax bill authorities had accused Google of evading. It rounds off a four year investigation that saw authorities raid Google’s Paris
Value Added Tax (VAT) is a consumption tax levied at each stage of the supply chain and ultimately borne by the consumers. The tax was introduced in Nigeria in 1993 via the Value Added Tax Act (VATA), after a recommendation by a study group that was set up in 1991 to review the Country’s entire
The Head of Gas Ventures, Neconde Energy Limited, Chichi Emenike, in this interview with ’FEMI ASU, says Nigeria needs to encourage more projects to monetise its huge gas reserves and boost domestic supply What are your thoughts on the Nigerian oil and gas industry? What we have seen with time is that there has been
Govt should give tax holiday to gas companies – Emenike Read More »
The Executive Chairman, Federal Inland Revenue Service, (FIRS) Babatunde Fowler has warned the nation’s accountants not to support tax evaders but to assist in building a larger revenue base for the nation. At the 49th Annual Conference of the Institute of Chartered Accountants of Nigeria, ICAN, where Fowler was the keynote speaker at a panel
Fowler, Accountants Discuss Improved Revenue Base At ICAN Conference Read More »
ICC has published an inaugural issues brief on World Trade Organization negotiations on the trade-related aspects of e-commerce. The issues brief – the product of extensive consultation with businesses across a range of sectors participating in or affected by the digital economy – will form part of a series of briefs by ICC to assist
ICC warns of risk to MSME growth posed by complex indirect tax regimes Read More »
Taxman has invited bids for a new system to monitor online transactions between merchants and their customers. Kenyans transacting goods and services online will soon begin paying income tax and Value Added Tax (VAT) as the Government moves to implement the controversial digital tax. The Kenya Revenue Authority (KRA) has kicked off the search for
Nigeria may face a fiscal crisis following its inability to collect more taxes, a BBC report has said. The report by BBC’s Reality Check Team found that government expenditure “has doubled and debt servicing costs have grown, but revenues have missed their targets by at least 45 percent a year since 2015.” The report noted
Nigeria Risks Fiscal Crisis Amid Low Tax Collection Read More »
The Federal Executive Council (FEC) has approved a proposed 44 percent increase in Value Added Tax (VAT) on Wednesday despite experts advising against such move given current headwinds. The Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed, disclosed this on Wednesday. According to her, the FEC approved a 2.2 or 44 percent increase
The Federal Inland Revenue Service says a total of 23,141 defaulters owe N254bn in tax liabilities. The service also said it recovered over N97.7bn from tax defaulters since it gave the directive to banks. The Executive Chairman, FIRS, Mr Babatunde Fowler, said these at the 49th Annual Accountant Conference organised by the Institute of Chartered
Defaulters owe N254 billion in tax liabilities, says FIRS Read More »
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