Fowler made this known on Thursday during a speech at the south-west flag-off ceremony of the new Tax Identification Number (TIN) Registration System and Consolidated National Taxpayers Database. The website, which was first launched in Abuja on July 1, allows users to register and get their tax identification numbers (TIN) online. According to the JTB […]
Tax transactions to be conducted online- Tunde Fowler Read More »
An aggressive tax drive through tech-driven process will wean federating States from overdependence on federal allocations, Lagos State Governor, Mr. Babajide Sanwo-Olu, has said. Lagos, Sanwo-Olu said, understood the challenges associated with overdependence on federal handouts early enough, prompting the State to pursue an inclusive revenue generation push to achieve financial autonomy and reduce its
Effective tax drive key to states’ financial independence Read More »
The Federal Inland Revenue Service has said that the Federal Government has cleared N33.13bn outstanding PAYE tax liabilities owed by Federal Ministries, Departments and Agencies to states from 2002 to 2016, in the South-West region. The chairman, Joint Tax Board, Mr Babatunde Fowler, disclosed this on Thursday when he inaugurated the new National Taxpayer Identification
The Rivers State Internal Revenue Service has dismissed claims in some quarters that the state government is planning to tax churches. The Chairman, RIRS, Adoage Norteh, told journalists in Port Harcourt on Thursday that the government had never contemplated collecting taxes from churches. Norteh explained that though he was of the view that workers, who
No plan to tax churches, Rivers revenue agency insists Read More »
Dame Gladys Simplice, Isaac Adedayo, Samuel Agbeluyi and Innocent Ohagwa have emerged in the new leadership team of the Chartered Institute of Taxation of Nigeria (CITN) with the mandate to pilot its affairs for the next two years. In a statement made available to Next Level in Lagos, the institute said while Simplice would be
Simplice, Adedayo, others emerge in CITN new leadership Read More »
OXFAM, an International Non-Government Organisation, has advised the Nigerian Government to review its policy on tax incentives currently costing the country a revenue loss of over N580 billion annually. The Country Director, OXFAM Nigeria, Constant Tchona, gave the advice on Wednesday in Abuja at the public presentation of the Fair Tax Monitor Index Report and
Nigeria loses billions in local, foreign tax evasions – Oxfam Read More »
Hearing in a N1.2 billion tax error claims filed by Joseph Daudu, SAN, at the Tax Appeal Tribunal was stalled on Wednesday due to the petitioner’s ill health. Mr Daudu, who is challenging alleged N1.2 billion error in his taxation, sent an affidavit for a motion for an adjournment in order for him to be
N1.2bn tax error claim: Ex-NBA president’s suit stalled due to ill health Read More »
Background Section 19 of the Companies Income Tax Act (CITA) imposes tax at 30% on a company where it declares and pays dividends in excess of its total profit. The relevant total profit is the profit of the year from which the dividend was declared and not the profit of the year in which the
Tax Appeal Tribunal Rules That Excess Dividend Is Liable To Tax At 30%. Read More »
The Senate on Wednesday urged revenue collecting agencies to ensure timely transfer of funds collected into the Federation Account. President of the Senate, Dr Ahmad Lawan, made the call in Abuja at a meeting with some of the revenue collecting agencies. Lawan also called for timely disbursement of funds to federal, states and local government
Senate calls for timely remittance of funds by revenue agencies Read More »
Often described as Britain’s “most hated tax”, inheritance tax seems uniquely able to enrage all sorts of people. Theoretically charged at 40 per cent on the value of an individual’s estate above £325,000, it is perceived as unfair for many different reasons. “Inheritance tax is a wholly voluntary tax,” reads the most recommended comment underneath
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