The immediate past National President/Chairman of the Council of Association of Professional Bodies of Nigeria, Mr Gabriel Fasoto, has disabused the minds of many young tax practioners when he said the practice of taxation as a profession is a distinct discipline from accountancy. The past president, Chartered Institute of Taxation said the clarification was necessary […]
Taxation, a different profession entirely, says Fasoto Read More »
The Executive Chairman, Federal Inland Revenue Service (FIRS) Mr. Tunde Folwer, has stated that revenues generated through taxation and borrowing would play a key role in supporting State Governments to finance their expenditure infrastructure and social services. Fowler, who disclosed this yesterday in Lagos at the Maiden Edition of the Nigeria Corporate Services with theme:
The Federal Inland Revenue Service (FIRS) on Tuesday said it will surpass in 2019 the N5.32 trillion it generated in 2018. The N5.32 trillion remains its highest yearly collection so far. In a paper titled: “The imperatives of regulatory processes, procedures and compliance in the Nigerian business sector” presented at a forum organised by the
FIRS will exceed N5.32trn revenue collection in 2019 – Fowler Read More »
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), has commended the decision of the Federal Government to remove Value Added Tax (VAT) from domestically produced Liquefied Petroleum Gas otherwise known as Cooking Gas. According to the association, the Federal Government signed the approval of VAT removal on LPG and gazetted same, after several pleas
NALPGAM hails removal of VAT on LPG, seeks reduction in duty Read More »
With the price of oil tumbling drastically to $48.86 per barrel in October 2015, after which it slid further to $44.82 the following month and $37.80 in the last month of the year, the signs were bold that Nigeria was facing a major economic crisis. The implication of the slump in revenue derivable from oil,
The Federal High Court sitting in Lagos, on Tuesday, 21st May 2019, has for the umpteenth time held that only members of the CITN can practice taxation in Nigeria pursuant to the relevant provisions of the CITN Act. This was the outcome of the suit instituted in 2018 by five members of ICAN by way
The Small – scale Consultative Forum, Abuja branch, has commended the Corporate Affairs Commission (CAC) and its acting registrar-general, Lady Azuka Azinge, for what it called the life-touching reforms she has so far introduced in the commission since assuming office in 2017. The body in a communiqué released to journalists and signed by Mr Komolafe
Business Stakeholders Commend Cac Over Ease Of Doing Business Read More »
Benue State Internal Revenue Service (BIRS) has fingered politicians, traditional rulers and local government officials in the state over collection of illegal taxes in the state. It also said that no fewer than 76 persons had so far been arrested by the board in connection with the setting up of illegal road blocks in the
BIRS Fingers High Profile Persons Over Illegal Tax Collection In Benue Read More »
AS the first term of President Muhammadu Buhari winds up within the next nine days, it is understandable that Nigerians are looking back at the passing four years to see if (and where) the “change” the ruling All Progressives Congress, APC, promised showed up beyond mere propaganda. While the regime’s performance in the economic sector
The Federation Accounts Allocation Committee (FAAC) has queried revenue shortfall of about N26.7 billion cby the Federal Inland Revenue Service (FIRS). The amount is in variance to the balance in the Central Bank of Nigeria (CBN’s) coffers. The difference in the figure spread across revenue channels under the purview of FIRS. These include the Petroleum
FAAC queries N26.7bn shortfall in FIRS’ revenue remittances Read More »
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