A financial adviser and business mentor, Mr. Abikure Tega, has said that the easiest and most efficient way to address issues of fraud in the country’s taxation system is through the block-chain technology. Tega, Chief Executive of Kurecion Foundation, who spoke at a training programme at the weekend organised by his outfit, said the efficacy […]
Financial expert proffers solutions to tax fraud in Nigeria Read More »
Trading floor of NSE, Lagos The emergence of the Nigerian Stock Exchange (NSE) as the third best performing stock in the world last year has impacted on its performance for the 2017 financial year, resulting to an operating surplus after tax or Profit After Tax (PAT) of N3.79 billion. The NSE made this known at
Stock Exchange makes N3.8 billion record high profit Read More »
The new policies entail VAT exemption for life insurance, public transportation, residential buildings, etc; while taxes on SMEs will now be reduced from 20 to 15%. The new policies entail VAT exemption for life insurance, public transportation, residential buildings, etc; while taxes on SMEs will also be reduced from 20 to 15%. Kemi Adeosun, Nigeria’s
Nigeria relaxes tax policies to reduce burden on citizens Read More »
Recently, the Federal Government of Nigeria introduced the voluntary assets and income declaration scheme (VAIDS), encouraging Nigerians to declare their tax liabilities in exchange for amnesty. Most Nigerians have a perception of tax as part of several official legislations used by public officials to proverbially rob Peter to pay Paul. Moreover, they view taxation with
Risk management in tax administration: Sn examination of VAIDS, WHT and VAT Read More »
Pursuant to the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004 Debt Management Office on behalf of the Federal Government of Nigeria Offers for Subscription and is authorized to receive applications for the Federal Government of Nigeria Savings Bond at the following interest rates
June 2018 FGN Savings Bonds Offer for Subscription Read More »
The Personal Income Tax (PIT) is the most common tax type in the country. Interestingly, many taxpayers don’t understand the way this tax is deducted and as a result, there are often questions about it. #1 What is PIT? The origin of the PIT can be traced to the Personal Income Tax Act No
Personal Income Tax in Nigeria: All You Need to Know Read More »
The Federal Executive Council on Wednesday approved the report of the National Tax Policy Implementation Committee on Tax Laws Reform. The Minister of Finance, Kemi Adeosun, disclosed this to State House correspondents after the council meeting presided over by President Muhammmadu Buhari. She recalled that the FEC had, last February, approved the revised National
The Chairman, Federal inland Revenue Service (FIRS) Mr Tunde Fowler has said the Voluntary Assets and Income Declaration Scheme (VAIDS) policy has raked in about N300billion from previous tax defaulters. Speaking yesterday in Abuja while declaring open, the official presentation of VAIDS certificates to chairmen of states’ tax revenue authority, Fowler said the N30bn recovered
VAIDS: FIRS rakes in N30bn as deadline ends June 14 Read More »
Brief Introduction of the MSMEDF The CBN launched the MSME Development Fund on August 15, 2013 with a share capital of N220 billion. The Fund was established in recognition of the significant contributions of the Micro, Small and Medium Enterprises (MSME) sub-sector to the economy and the existing huge financing gap. Ten (10) percent of
Micro, Small and Medium Enterprises Development Fund (MSMEDF) Read More »
CENTRAL BANK OF NIGERIA Financial Policy and Regulation Department Central Business District P.M.B. 0187 Garki, Abuja. June 6, 2018 CIRCULAR TO ALL BANKS ON THE REDESIGNED CRMS: NOTICE OF COMMENCEMENT OF CRMS COMPLIANCE STATUS CHECKS The CBN Circular Ref: FPR/DIR/GEN/CRM/06/012 (dated February 27 2017), on ‘Regulatory Guidelines for the Redesigned Credit Risk Management System for
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