If MDAs owe N115bn in tax, Adeosun must start campaign in-house—Nigerians
If the recent revelation that Ministries, Departments and Agencies (MDAs) of the federal and state governments owe over N115bn in tax liabilities by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), is anything to go by, it then means that…
Sealing up tax defaulters premises now a continuous drive nationwide—FIRS
The management of the Federal Inland Revenue Service (FIRS) has said that its ongoing crackdown on tax-defaulting companies in Abuja, Lagos and other parts of the country has become a continuous process designed to deepen tax culture. In an exclusive…
Airlines give conditions for seamless remittance of VAT, others
The joint team of delegation from Airline Operators of Nigeria (AON) and the International Air Transport Association (IATA) who paid the Chairman of Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler has given terms and conditions for a smooth administration…
FIRS causing service providers to pay double VAT by hoarding receipts
Whereas the federal government through the Federal Inland Revenue Service (FIRS) is working to raise tax compliance in the country, indication has emerged showing high incidence of double payment of Value Added Tax (VAT) by companies. A number of tax…
FIRS plans tax remittance soft landing for airlines to remain afloat
As part of new moves to save the ailing aviation sector from suffocations caused by tax related challenges, the Federal Inland Revenue Service (FIRS) has proposed a flexible tax payment regime that will meet their Value Added Tax (VAT) remittance…
Osinbajo signs another Order on tax evasion, offers 9 months grace period to evaders
The federal government on Thursday, gave more bite to its ongoing crusade to deepen tax compliance and inclusion of more citizens both corporate and individuals into the shallow tax basket. Currently, only 214 Nigerians pay taxes of about N20m annually…
FIRS: Comparative analysis shows ups, downs in different taxes in Q1 2016, ‘17
Just as the Federal Inland Revenue Service (FIRS), has disclosed that it generated N778.19 billion revenue in the first quarter (Q1) of 2017, deeper review of the earnings indicates no straight flow of increments amongst different kinds of taxes collected…
FG sending conflicting signals on tax as agencies evade in states
Whereas the federal government has stepped up campaigns for Nigerians to pay taxes as and when due, there seems to be no corresponding compliance in paying taxes by several agencies of the federal government. Only recently, the Ministry of Finance,…
Stop using property value for assessment of Company tax, LCCI tells FG
The leadership of the Lagos Chamber of Commerce and Industry (LCCI) has called on the Federal Inland Revenue Service (FIRS) to upgrade itself and begin to use technology and reliable indices in assessing values of companies in times of computing…
FIRS generates N3.30trn revenue, explains why 2016 budget was in reds
The Federal Inland Revenue Service (FIRS) has not only revealed that it collected N3.30 trillion revenue from taxes in 2016, but opened up on why the year’s budget was enmeshed in deficit. Speaking on the last day of a three-day…
