Experts in Nigeria’s real estate sector have identified over taxation, weak regulation, quackery among major inhibitors to the nation’s housing development. Speaking at a talk show organized by Photizo Properties in Lagos, Chief Executive Officer, Photizo Properties, Patrick Oriyomi, said investors shy away from real estate because of lack of trust. According to him, real…

South African President, Cyril Ramaphosa has congratulated President Muhammadu Buhari on his victory in last Saturday’s election. He also commended Nigerians for their peaceful conduct during the elections and their patience even after the elections was postponed by a week. President Ramaphosa, in his congratulatory message yesterday, expressed his commitment to working closely with President…

Telecommunications operating companies in Nigeria have again urged the federal government to review the Amended Tax Order of 2015 to reduce multiple taxation. To them, the current heavy taxes imposed on telecoms companies at the federal, state and local government levels, have been major obstacle, which retards economic growth, limits profits, compromises quality of service…

Governor Ben Ayade has encouraged the Igbo and other residents of Cross River State to resist unnecessary taxation. There have been cases of multiple and unnecessary taxation in the state despite the governor’s friendly tax regime to businesses. Reacting to complaints of extortions by tax officials at his installation as Eze Ndi Igbo in Cross…

Not-for-Profit Organisations (NFPOs) are the third sector of the economy in Nigeria and it is mostly neglected compared to the public and private sectors that have received a lot of recognition amongst people. The main aim of the social sector is to achieve social development that is, providing basic needs to the people. Not-for-Profit describes…

For allegedly collecting arbitrary taxes and levies from Whitesand trailer park owners, a group, Human Rights Monitoring Agenda (HURMA), has called on Apapa-Iganmu Local Council Development Area (LCDA), Lagos State to urgently investigate the allegation. HURMA in a petition addressed to the chairperson of the council, Mrs. Oluwafunmilayo Akande Mohammed, said such double taxation is…

In 2017, the Federal Government of Nigeria launched the Voluntary Asset and Income Declaration Scheme (VAIDS) as a “time-limited opportunity for taxpayers to regularise their tax status relating to previous tax periods and pay any taxes due. “In exchange for fully and honestly declaring previously undisclosed assets and income, tax payers will benefit from forgiveness…

The 58 underwriting companies operating in the nation’s insurance industry have attributed increasing multiple taxes they are subjected to by authorities as a setback that made them lose about N23 billion in the past and the current financial year.   In the 2016 financial year, insurers paid N11 billion as taxes from a Profit Before Tax…

Akinwale Goodluck is Head of Africa, Global System for Mobile Communications Association (GSMA), a trade body that represents the interests of mobile network operators worldwide. A solicitor of the Supreme Court, he has had a career spanning investment banking and legal practice. In the last 15 years, Goodluck has been engaged in the information and…

The Federal Government is reported to have directed money deposit banks to release information on the income and assets of their customers to the tax authorities with a view to enforcing extant tax regulations. This step is within the context of the Common Reporting Standard (CRS) programme agreed by several countries to enable them exchange…

The noble aim of course, is to ensure the highest welfare for the greatest number of the citizenry through a fair distribution of financial resources.

With taxation becoming the new “TINA” in Nigeria’s fiscal and economic space, there is a general consensus that the prospects for enhancing non-oil revenue generation through taxation rests ...