Polaris Bank Limited, which was formerly operating as Skye Bank Plc, has won its case against the Abia State Government over a N1.528 billion tax assessment disagreement brought before a tax appeal tribunal sitting in Enugu State. The lender had taken the Abia State Board of Internal Revenue to the tribunal, seeking to determine if […]
Polaris Bank Floors Abia Govt at Tax Appeal Tribunal Read More »
The Ondo State Government has urged it’s citizens to make tax payment a priority for it to improve on the infrastructural projects in the state. Arakunrin Oluwarotimi Akeredolu stated this while declaring open a one day sensitization programme organized by the Ondo State Internal Revenue Service (ODIRS) in collaboration with the Chartered Institute of Taxation
ODSG Collaborates With CITN On Tax Sensitization Read More »
Recently, the National Bureau of Statistics (NBS) published Nigeria’s H1-19 Value Added Tax (VAT) report. According to the report, VAT revenue rose 12.0% y/y to N600.9bn, in H1-19. This as the Federal Inland Revenue Service (FIRS) continues to double efforts to increase tax revenue, amid FG’s dwindling and volatile oil revenue. Recent comments from the
Nigeria’s Tax Revenue: Plucking the low hanging fruits! Read More »
The culprits, Atime Orlu, Terhide Kumbul and Mzehemen Jaga were arrested at Luga in Gboko, near Tyogbenda Msa, in Ushongo and Awajir in Konshisha respectively. In furtherance of its resolve to eradicate illegal tax points, the Benue state special taskforce on illegal road blocks in collaboration with the Benue state police command, has arrested three
Traders at the Abakpa Main Market, Abakaliki, have denied the allegation of tax evasion of levelled against them by officials of the Ebonyi State Government as the reason for invading the market and compliance. The traders spoke at a press conference in Abakaliki on Friday and urged the public to discountenance the allegation of tax
Participants at a high-level session on tobacco tax earmarking convened by the Nigeria Tobacco Control Alliance (NTCA) and the Federal Ministry of Health have highlighted the importance of the establishment of Tobacco Control Fund for successful implementation of tobacco control policies in the country. The meeting, held in Abuja on Wednesday, was attended by senior
Stakeholders Advocate Tax Earmarking For Tobacco Control Read More »
The Chartered Institute of Taxation of Nigeria has expressed confidence that the current strategies and initiatives of the Federal Inland Revenue Service will improve revenue collections. The Registrar/Chief Executive, CITN, Adefisayo Awogbade, said the institute had observed that since August 2015, the FIRS target for two major non-oil taxes, Value Added Tax and Companies Income
FIRS strategies will improve tax revenue, says CITN Read More »
The Buhari Media Organisation (BMO) has expressed surprise that a company owned by a former President, Olusegun Obasanjo, is on the list of over 19,000 tax defaulters recently released by the Federal Internal Revenue Service (FIRS). The BMO, in a statement on Thursday by its chairman, Niyi Akinsiju, and Secretary, Cassidy Madueke, said it was
Stanbic IBTC Holdings PLC, a member of the Standard Bank Group, has announced its mid-year audited results for the period ended June 30, 2019, as it recorded a profit of N36.2 billion after tax. The Group also announced an interim dividend of 100 kobo. According to the Stanbic IBTC’s income statement, the Group recorded an
Stanbic IBTC records NN36.2bn profit after tax in 6 months Read More »
If you or a loved one has disabilities or special needs, you know that the costs related to care can be substantial. The good news is, you may be able to reduce these costs by maximizing the tax strategies available to you. Below I’ve outlined four main areas to focus on when assessing your tax
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