Nigeria earns N43.2b from solid minerals as government, others share N9.9b
The Nigeria Extractive Industries Transparency Initiative (NEITI) yesterday in Abuja said Nigeria’s solid minerals sector contributed a total of N43.22billion to government revenue in 2016.
FIRS generates N4.3trn tax revenue from January to October - Fowler
The Federal Inland Revenue Service (FIRS) on Friday said it generated N4.3 trillion as tax revenue between January and October this year. FIRS Executive Chairman, Babatunde Fowler, disclosed this during the “Federal Inland Revenue Service Special Day” at the ongoing Lagos International Trade Fair held at Tafawa Balewa Square. Represented by Mrs Angel Fadahunsi, FIRS…
The safe harbour provision in the 2018 TP Regulations: what can be done to make it effective?
One of the changes in the 2018 TP Regulations is the complete overhaul of the safe harbour provision. In this article, we examine these changes and provide recommendations for dealing with some of the shortcomings we have identified.
Deloitte sees automation transforming tax administration in Nigeria
Experts in tax administration have said automation will transform taxes for companies and regulators in the very near future, as technology is expected to impact satisfaction level positively.
ATAF re-elects Fowler as African tax chief
The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Tunde Fowler, has been re-elected as Council Chairman of the African Tax Administration Forum (ATAF) for a fresh two-year term.
Freezing taxpayers’ accounts and rights of appeal
In recent times, the Nigerian government, in a quest to diversify the economy and increase tax revenue has introduced numerous measures to widen the tax base at the domestic level and internationally.
Stakeholders urge taxation review
Industry operators have called on the government to support the sector’s growth and development by collaborating with stakeholders to work out ways of streamlining the huge taxes against the sector.
Constitutionality of banks as tax collectors
The Association of Bureau De Change Operators of Nigeria recently raised an alarm over the on-going practice of banks denying their members access...
FIRS gets N13 billion from defaulting taxpayers
Less than a month into the unveiling of its account substitution policy of defaulting taxpayers, the Federal Inland Revenue Service (FIRS) has announced the collection of N12.66 billion revenue. The Executive Chairman, Tunde Fowler, disclosed this at the weekend when he received the new Minister of Finance, Hajia Zainab Ahmed, during her tour of the…
FIRS freezes 6,772 accounts, generates N3.5 trillion in eight months
The Federal Inland Revenue Service (FIRS) has said it generated N3.5 trillion for Federal Government between the months of January and September 2018.The Executive Chairman, FIRS, Tunde Fowler, who disclosed this in Lagos, during a stakeholders meeting, said the amount generated was N1trillion....