The Federal Inland Revenue Service (FIRS), has mandated  its staff to halt the implementation of the sections of the controversial tax law that has brought untold hardship to insurers. The Partner & Head, Tax, Regulatory & People Services, Wole Obayomi, disclosed this  at the recent  Voluntary Assets Declaration (VAID)  Scheme  awareness Public  Lecture organised  by the

The insurance industry is one of the specialised businesses having a peculiar business model and corresponding distinct tax considerations in Nigeria. The core business of insurers/insurance companies, simply put, is to provide cover to another party (insured), against possible financial loss within a specified period. In return, the insured pays an insurance premium at the

The federal government is ready to prosecute, name and shame tax evaders that fail to utilize the tax amnesty programme, the Voluntary Assets and Income Declaration Scheme (VAIDS), to regularize their tax profiles, the Minister of Finance, Kemi Adeosun, declared yesterday. She also disclosed that the federal government would strictly adhere to the confidentiality of