Value added Tax (VAT) generated from Nigeria’s transport and Haulage service sector soared by 205 percent in Q2 2019m, according to figures released monday by the National bureau of Statistics (NBS). According to the report, the sector’s VAT rose to N7.43 billion from N2.43 billion recorded in the previous quarter. The sum of N311.94billion was […]
Taxpayers in Rivers State are regarded and treated as development partners, so declared the Rivers State Internal Revenue Service (RIRS). The Executive Chairman of the Board, Adoage Norteh, who disclosed this in Port Harcourt, said this is the reason why taxpayers were made to be part of the process in the informal sector tax initiative
Rivers taxpayers are our development partners – RIRS boss Read More »
The Nigerian Communications Commission (NCC) has begun another round of compliance audit of SIM registration databases of MTN, Globacom, Airtel, 9Mobile, Ntel and other operators offering SIM-based services. Following the commencement of the compliance audit, Mobile Network Operators (MNOs) are reportedly jittery over the status of their registered Subscribers Identity Module (SIM) cards. The details:
NCC begins another SIM registration compliance audit Read More »
The Australian Taxation Office has hit the British-Dutch oil giant Shell with a bill estimated at $755m as it continues to pursue multinational resources giants over claims they have avoided paying tax on offshore gas projects. Court documents reveal Shell’s main Australian company, Shell Energy Holdings Australia, has been fighting the ATO for six years
The Federal Inland Revenue (FIRS) has fixed the 21st of every month as the deadline for the payment of Value Added Tax (VAT) by companies in Nigeria. This was revealed on Wednesday in a statement signed by Mr. Babatunde Fowler, the Chairman, FIRS. According to him, some companies have been found culpable of not deducting
HE statement by Mr Babatunde Fowler, executive chairman of the Federal Inland Revenue Service (FIRS), that the service may, as from next year, ask banks to charge customers five per cent Value Added Tax (VAT) on online purchases leaves much to be desired. Though VAT is legal, being a product of the nation’s laws, its
MTN has engaged the services of the KPMG to handle the demand for the payment of tax on the N330bn ($1.1bn) fine it paid to the government, investigation has shown. The company had confirmed having a technical disagreement with Federal Internal Revenue Service regarding tax deductions from the fine. Sources close to the company confirmed
The Edo State Governor, Mr Godwin Obaseki, has said that the state will partner the Chartered Institute of Taxation of Nigeria to drive advocacy campaigns, so as to widen the tax net in the state. Obaseki said this when members of the Benin District Society of the CITN paid him a courtesy visit at the
The Federal Inland Revenue Service (FIRS) in Ebonyi state, has decried the absence of manufacturing companies in Abakaliki, the state capital, a development it said was the challenge facing it. Kenneth Effiong, tax controller, Abakaliki, MTSO FIRS, who spoke to our correspondent in Abakaliki, also told this paper that majority of taxpayers in the state
Some economic experts at the weekend expressed doubts over the ability of the Federal Inland Revenue Service (FIRS), to meet its N8.2 trillion revenue target for 2019 FIRS is the main agency of the Federal Government charged with responsibility of accessing, collecting and accounting for tax and other revenues accruing to the Nigerian authority. According
Why N8.2trn FIRS revenue target can’t be achieved –Experts Read More »
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