The National Assembly has passed a new law, the National Housing Fund (Establishment) Act 2018. The key provisions of the Bill include the following: Mandatory 2.5 percent contribution of monthly income by employees earning minimum wage and above in public and private sectors to be deducted and remitted monthly by all employers 2.5 percent […]
President Muhammadu Buhari has said that the Federal Government will continue to sensitize and encourage Nigerians to cultivate the culture of paying taxes by ensuring fair implementation of policies and effective utilisation of resources. Mr Femi Adesina, the Special Adviser to the President on Media and Publicity, said Buhari stated this when he received the
Taxation: We need to enhance and expand govt’s revenue base —Buhari Read More »
The Water Supply and Sanitation Collaborative Council on Tuesday called on the Federal Government to reduce tax paid on the importation of sanitary pads to promote menstrual health in the country. Dr Virginia Kamowa, the Technical Expert on Menstrual Hygiene Management, WSSCC made this call at the ongoing Training of Trainers Workshop on Menstrual Hygiene
Sanitation council calls for tax reduction on sanitary pads Read More »
PWC Nigeria has stressed the need for tax administrators to simplify tax payment process in Nigeria, to increase compliance level. The Head of Tax, PwC Nigeria, Taiwo Oyedele, while speaking at the firm’s Tax Academy in Lagos, on Wednesday, said Nigeria’s tax revenue to GDP ratio ranked among one of the lowest in the world.
PWC canvasses simpler tax process for enhanced compliance Read More »
Taxation globally is seen as a way of mobilising and supporting a nation’s financial resources. In this vein many nations have been taking the initiative to ensure that the tax administration is efficiently operated. The Nigerian tax system is beset by myriad of challenges, such as non-availability of tax statistics, inability to prioritize tax effort,
How new reforms are impacting on tax revenue generation Read More »
Anderson Tax Wednesday launched its review on Transfer Pricing (TP) Development in Africa, in Lagos. The 45-page report was aimed at providing tax payers and investors with the required insight into TP in Sub-Sahara African countries, particularly Nigeria. Addressing journalists, the Chairman, Anderson Tax Africa, Mr. Seyi Bickersteth, said the “report presents our findings from
Section 41 of the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended) requires all individuals to submit their individual tax returns (Form A) with the relevant tax authority. This return is for all income earned from all sources in the preceding year and it is due for submission by 31 March of
Deadline For Filing Of Annual Employees’ Tax Returns (Form A) Read More »
The Executive Secretary of the Economic Commission for Africa, Vera Songwe, has called on countries on the continent to improve their fiscal policies, as well as expand their tax base, so they have resources to fund their development projects. Songwe made this call at the 38th meeting of the Committee of Experts of the Conference
Tax experts at PwC Nigeria have said digitising the processes of tax payment in the country will increase compliance level, among other benefits. The Head of Tax, PwC Nigeria, Mr Taiwo Oyedele, said this on the sidelines at the PWC Tax academy held in Lagos recently. He lamented the stress and some of the issues
Abuja, March 20, 2019 (TNE) The Tax Appeal Tribunal sitting in Abuja on Wednesday adopted the terms of settlement entered by 44 insurance companies and the Federal Inland Revenue Service (FIRS) over N579.5 million overpaid stamp duties charged the companies. The companies on Nov.19, 2018, filed a motion for an order for variation of a
Tribunal adopts terms of tax settlement between 44 insurance coys and FIRS Read More »
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