Recently, the Tax Appeal Tribunal (TAT) sitting at Lagos held that a taxpayer can object via online means to FIRS tax assessments. This decision was made in Earth Moving International Limited v FIRS. FIRS assessed Earth Moving International Limited (Earth Moving), to tax of over Twenty-Five Million Naira. Earth Moving objected to this tax assessment […]
THE TAX APPEAL TRIBUNAL ALLOWS ONLINE OBJECTION TO TAX ASSESSMENT Read More »
Oyo State Government has reiterated its assurance to the people of the state that the administration will not increase tax on business enterprises to increase the Internally Generated Revenue (IGR) of the state. Executive Chairman, Oyo State Internal Revenue Service (OYSIRS), John Adeleke, who gave the reassurance in a chat with journalists in his office,
We’ll not increase tax to improve IGR, Oyo State reassures entrepreneurs Read More »
Nigerians may have to pay 9 percent service tax for using communication service if the Communication Tax Bill before the Senate is passed by the two chambers and approved by President Muhammadu Buhari. The new Bill entitled ‘Communication Tax Bill, 2019 (SB.12)’ was sponsored by Senator Ali Ndume, Chairman of the Senate Committee on Army.
Senate to Reject VAT Increase, Proposes 9% Communication Tax Read More »
Nigeria’s experts kicked against the International Monetary Fund (IMF) call for a tax increase as a means to fund the country’s high cost of servicing debt. This was after the Debt Management Office (DMO) reported that Nigeria’s total debt rose by 5.11 percent or N1.3 trillion in the first half of 2019 to N25.701 trillion.
The Federal Government is planning to introduce more taxes and expand the incumbent tax base. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, disclosed this while speaking at the International Monetary Fund (IMF) and World Bank’s annual meetings in Washington DC, United States of America (USA). According to Ahmed, this was the
FG To Introduce More Taxes, Expand Present Tax Base Read More »
Following the plans by the Federal Government to impose Value Added Tax (VAT) on carbonated drinks, soft drinks and other important products, Financial experts have warned that it will not only have an effect on the company but will lead to loss of jobs in the country. Recall that the Minister of Finance, Budget and
Soft-Drink Tax: Experts Predict Hyperinflation, Job Loss Read More »
The mathematical theory of transitivity states that, if A is equal to B and B equal to C, then A is equal to C. Given the latest cuts in corporate taxes, one would hope that this theory was as simply applicable to India’s languishing capital expenditure cycle: that, by reducing corporate taxes, demand increases, capacity
Corporate tax cuts won’t spur capex cycle immediately Read More »
Benue Internal Revenue Service (BIRS), in collaboration with the operatives of the Operation Whirlstroke operating in SANKERA axis of Benue State have cleared all routes in the federal constituency of illegal check points. The operation which also had the leadership of the amalgamated traders union as part of the team, saw to the sanitation of
Nigerian Army, BIRS Remove Illegal Tax Points In SANKERA Read More »
The Academic Staff Union of Universities (ASUU) has rejected the decision of the management of Ekiti State University (EKSU) Ado-Ekiti to introduce a new tax regime to be paid by staff. Addressing newsmen on Friday in Ado-Ekiti, the ASUU-EKSU chairman, Dr Kayode Arogundade said members of the union had been subjected to poor treatment with
ASUU rejects introduction of new tax regime in Ekiti varsity Read More »
The big pot of water half buried at the middle of Malam Bizi’s expansive compound has served the family and guests for about two decades, providing cool water for drink especially during the dry season in northeast Maiduguri, known for its hotness in dry season. But something unusual is happening to the mud pot. It
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