The Federal Inland Revenue Service is to dispose of the properties of 52 companies over tax debts valued at about N3.4bn. Investigations by our correspondent in Abuja showed that already, the Legal Department of the Service had begun the process to sell the properties in a bid to effectively implement the initiative. It was learnt […]
N3.4bn tax debt: FIRS to sell properties of 52 firms Read More »
The Federal Inland Revenue Service has appointed Sterling Bank Plc as a collecting agent to recover taxes from 2,933 defaulting companies. This was disclosed in a letter signed by the Chairman, FIRS, Mr Tunde Fowler, and addressed to the Managing Director/Chief Executive Officer, Sterling Bank, Abubakar Suleiman. The letter, which was obtained by our correspondent,
Tax defaulters: FIRS appoints Sterling Bank as recovery agent Read More »
Oil and gas companies operating in Nigeria got a total of 12,383 service permits in 2018 for the services rendered in the sector. The Department of Petroleum Resources said the service permits were issued in three categories. In a document detailing some of its achievements in 2018, which was obtained by our correspondent from the
Oil firms get 12,383 service permits in one year Read More »
The Federal Inland Revenue Service (FIRS) says it will go after estimated 40, 000 millionaire tax defaulters in 2019. Mr Wahab Gbadamosi, the Head Communications and Servicom Department of FIRS, disclosed this in a statement in Abuja on Thursday. Gbadamosi quoted the Executive Chairman of the service, Mr Tunde Fowler, as making this disclosure when
FIRS to go after 40, 000 millionaire tax defaulters in 2019 Read More »
A Federal High Court in Lagos on Thursday, fixed March 26 to hear a preliminary objection to a suit by MTN Nigeria Communication Ltd, against the Attorney General of the Federation, over alleged N242 billion and 1.3 billion dollars import duties and withholding tax assessments. The News Agency of Nigeria reports that MTN instituted the
$1.3bn tax assessment: Court to hear AGF’s objection to MTN’s suit March 26 Read More »
The Nigeria Labour Congress has called for an amendment to the present Income Tax Law so that the new National Minimum Wage of N30,000 will not be taxed. NLC’s General Secretary, Dr. Peter Ozo-Eson, made the call in Abuja in an interview with the News Agency of Nigeria on Wednesday. Ozo-Eson was reacting to a
The Nigeria Labour Congress has called for an amendment to the present Income Tax Law so that the new National Minimum Wage of N30,000 will not be taxed. NLC’s General Secretary, Dr. Peter Ozo-Eson, made the call in Abuja in an interview with the News Agency of Nigeria on Wednesday. Ozo-Eson was reacting to a
LAGOS – To ensure the industry overcome its current challenges, the Association of Bureaux de Change Operators of Nigeria (ABCON),yesterday emphasized the need for the Central Bank of Nigeria(CBN) to exempt bureau de change operators from payment of Value Added Tax (VAT). The association’s president, Alhaji Aminu Gwadabe, stated this in his speech at the
Summary On 11 December 2018, the Court of Appeal (COA or the Court), in the case between Best Children International Schools Limited (BCIS Limited or the Company) vs Federal Inland Revenue Service (FIRS), held that the Company is liable to Companies Income Tax (CIT), regardless of its claim to be an educational institution. The Court
COURT OF APPEAL RULES ON THE TAXABILITY OF AN EDUCATIONAL INSTITUTION Read More »
Apple said on Tuesday it had reached an agreement with French authorities to settle 10 years of back taxes, becoming the latest US company to reach a deal with France which has led a European push for higher taxes on tech giants. French news weekly reported that Apple had paid nearly 500 million euros ($570
Apple agrees to pay €500m as tax settlement in France Read More »
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