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.
Adeosun returns to England
On the 70th day after a detailed investigation revealed that the immediate past Finance Minister, Mrs. Kemi Adeosun used a fake National Youth Service Corps (NYSC) exemption certificate...
FEC okays N206 billion for Second Niger Bridge link roads
The Federal Executive Council (FEC) has approved N206 billion to facilitate the construction of associated infrastructures that would link the Second Niger Bridge in the southeastern part of Nigeria.
VAIDS and the trust deficit in taxation
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…
FEC okays tax law reforms as government recovers N30b under VAIDS
The Federal Executive Council (FEC) yesterday approved the review of the country’s tax law system to exempt the charges of Value Added Taxes (VAT) on some goods and services.FEC had on February 1, 2017, approved the revised National Tax Policy...
Whistleblowing policy: FG recovers N14bn from tax evaders
Minister of Finance, Mrs. Kemi Adeosun, has revealed that the federal government has so far recovered about N13.9billion from tax evaders through the assistance of volunteers who provided tips on evading tax companies in the country.
Buhari extends VAIDS deadline to June 30
President Muhammadu Buhari has approved the extension of the Voluntary Assets and Income Declaration Scheme (VAIDS) to June 30. The approval for the extension of the deadline is contained in a statement issued by the President’s Special Adviser on Media and Publicity, Mr Femi Adesina, in Abuja on Wednesday. According to the statement, the short…
‘Nigeria’s tax: GDP ratio remains one of the poorest in Africa’
Financial experts have lamented the country’s tax to GDP ratio, describing it as one of the poorest in Africa. The figure, which stands at just 6 per cent is significantly lower than Ghana and Egypt...