The court ordered that the forfeited sum be deposited in the Treasury Single Account of the Federal Government. A Kano division of the Federal High Court has ordered an interim forfeiture of the sum of N1,000,494,000, suspected to belong to former First Lady, Patience Jonathan, to the Federal Government. According to an investigation conducted by […]
FG secures N1bn EFCC traced to Patience Jonathan Read More »
The Corporate Affairs Commission (CAC), yesterday, described the passage of the Companies and Allied Matters Bill by National Assembly as a feat, monumental and demonstrative of the harmonious relationship existing between the two chambers of the Eighth Assembly. Reacting to the passage of the bill by the House of Representatives after Third Reading on Tuesday,
CAC applauds NASS on passage of Companies and Allied Matters bill Read More »
The Lagos State Internal Revenue Service (LIRS) has extended the statutory deadline for employers to file their annual Pay-As-You-Earn (PAYE) tax returns by six working days from 31 January 2019 to Friday 8 February 2019. The extension became necessary to accommodate the significantly high number of taxpayers who are yet to file their PAYE tax
LIRS Extends The Deadline For Filing 2018 PAYE Returns Read More »
SEVERAL years ago, fourth President of the United States of America, James Madison said that the power of taxing people and their property is essential to the very existence of government. Similarly, Franklin D. Roosevelt, the only US President to serve three terms also underscored the importance of tax when he asserted that: “Taxes, after
The Federal High Court (FHC) sitting in Abuja recently gave a judgement in favour of Theodak Nigeria Limited (TNL or “the Company” or “the plaintiff”) in its lawsuit against the Federal Inland Revenue Service (FIRS or “the defendant”). The issue for determination was whether the FIRS had statutory power to deem the value of the
Federal High Court Rules Against Income Tax Assessment Based on the Value of a Property Read More »
The House of Representatives has approved the sum of N30,000 as the new national minimum wage. The approval followed the adoption of the report by the ad hoc committee set up on the New Minimum Wage Bill presented to the National Assembly by President Muhammadu Buhari on Thursday. Passing the bill for the third reading
The Federal Inland Revenue Service (FIRS) on Saturday urged Small and Medium Enterprises (SMEs) to pay taxes to attract investors. FIRS Deputy Director, Mrs Angel Fadahunsi, made the appeal at the Techpoint Build expo held in Lagos. The News Agency of Nigeria (NAN) reports that Techpoint Build is a conference and exhibition that connects startups
The Laws and Rights Awareness Initiative has, through its trustees, brought an action against the Federal Inland Revenue Service (FIRS) at the Abuja Division of the Federal High Court. In the suit, the Laws and Rights Awareness Initiative is challenging the power of the FIRS to provide commercial sponsorship or support to entertainment concerts and
NGO Sues Federal Internal Revenue Service Over Sponsorship of Entertainment Concerts Read More »
The Corporate Affairs Commission (CAC) has approved the name for non-governmental organisation called Edubox International Foundation. Founder of the foundation, Tosin Sanusi said the aim of the NGO is to help position Nigerian students and youths to become relevant to the country and the entire world by supporting their academics and empowering them with the
CAC Approves Name for Edubox International Foundation Read More »
The Executive Chairman, Federal Inland Revenue Service, Mr Babatunde Fowler, has said that the service will this year surpass the N5.3tn revenue generated in the 2018 period. He said this during a chat with finance journalists on Thursday in Abuja. Fowler said that the service had embarked on a series of reforms aimed at making
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