Tax

How current tax regime discourages informal businesses in Nigeria – PwC expert

A tax expert and partner with Price water Cooper (PwC), Taiwo Oyedele, has said the current tax regime in Nigeria does not encourage informal businesses aspiring to formalize their operations. Oyedele spoke during a panel discussion at the Special Policy Dialogue Colloquium, entitled “Policy Change – The Enabler of Sustainable Growth”, organized by the Financial […]

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Investors may lose N2.5 billion annually to VAT enforcement – Reports

Following the expiration of the five-year Value-Added Tax (VAT) exemption on Stock Exchange transactions, it has been revealed that investors may lose as much as N2.5 billion yearly as additional costs on transactions. Reports said stakeholders in the Nigerian capital market have been expressing concerns on the matter just as the non-reversal of VAT payment

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‘Strengthen tax system to improve governance’

The Executive Director, Rural Women and Youth Development (RUWOYD), Sokoto State, Abudu Yusufu has urged governments to institute effective tax structures to increase the size of national budgets by raising corporate tax payment. Speaking at a Stakeholders Forum on Tax and Gender-Responsive schools under the ActionAid initiative of ‘Tax Justice & Gender Responsive Public Services

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Fowler inaugurates members of National Tax Policy

The Executive Chairman of the Federal Inland Revenue Service (FIRS) and Chairman of the Joint Tax Board (JTB), Tunde Fowler, has inaugurated a team of tax experts charged with the responsibility for implementation of the National Tax Policy. He also inaugurated a Technical Tax Policy Drafting Committee which began a workshop on National Tax Policy

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Diversification’ll enhance tax administration –Ede, ex-CITN president

Dr. Cyril Ikemefuna Nwobodo Ede the immediate President of the Chartered Institute of Taxation of Nigeria (CITN) For us to be truly seen as making a determined push to diversify the economy away from taxes, what we require is a sustained effort towards investing in critical infrastructure such as power and transportation which impacts greatly

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FIRS Tasks Technical Committee on Harmonisation of Tax Reforms

The Federal Inland Revenue Service (FIRS) has directed the newly inaugurated Technical Tax Policy Drafting Committee to harmonise the various tax and excise law reforms in the proposed Finance Bill. The FIRS Chairman, Mr Babatunde Fowler, gave the directive at the inaugural meeting of the Reconstituted National Tax Policy Implementation Committee (NTPIC) in Abuja on

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MAN decries Nasarawa’s gaseous emission tax

The acting Chairman of the Manufacturers Association of Nigeria, Nasarawa State chapter, Mr Alfred Alogana, has expressed the body’s displeasure over the unfavourable tax regime in the state. He made special reference to the Gaseous Emission Tax, which manufacturers and producers of goods are subjected to by various agencies of the state government. Alogana stated

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