FG rakes in N17bn from Tax Amnesty scheme
The federal government has received N17 billion from the Voluntary Assets and Income Declaration Scheme, VAIDS, that commenced July 2017.
Tax incentive to Dangote and our failed Federal Govt
Milton Friedman must have had the Federal Government of Nigeria in mind when he penned the above words. Just like Obafemi Awolowo rightly warned against unitary Nigeria in his book ‘Thoughts on The Nigerian Constitution’ in 1967, the Federal Government of Nigeria is now afflicted with ashes touch. Said Awo: ‘Besides, it is not difficult to forecast that the work of government in Nigeria under a unitary constitution is bound to become unduly complex, inextricably tangled,extremely unwieldy and wasteful, and productive of disunity and discontent amongst the people. Unless we have veritable supermen at the helm of affairs,the administrative machinery would eventually disintegrate and break down under the crushing weight of ‘bureaucratic centralism’.
VAIDS: The Tax Game Changer
A seismic change began in the country’s tax system on 29 June, when an Executive Order signed by Vice President Yemi Osinbajo (then Acting President) gave life to the Voluntary Assets and Income Declaration Scheme (VAIDS).
Delta govt seeks compliance with new consumption tax
WARRI—Delta State government has urged residents to comply with the new Consumption Tax as the state’s Board of Internal Revenue, DBIR, perfects its implementation modalities.
Delta revenue board seals 12 companies over tax liabilities
The Delta Board of Internal Revenue (DBIR) on Friday sealed 12 companies, hotels and schools in Warri, over tax liabilities.
Adverse tax on dividends scares investors – Anono
The issue is that of multiple taxation on individual investors is worrisome because whenever a company declares dividend, before it gets to you, they will deduct 10 percent withholding tax and this is after the government must have taxed the company’s profit.
FIRS moves to combat tax evasion, signs multinational agreemeents
EXECUTIVE Chairman of Federal Inland Revenue Service, FIRS, Mr. Tunde Fowler, has signed two major multilateral instruments – Multilateral Convention to Implement Tax Treaty Related Measures to prevent Base Erosion and Profit Shifting, MLI, and the Common Reporting Standard Multilateral Competent Authority Agreement (CRS MCAA).
No Nigerian can evade tax payment with VAIDS– FIRS boss
The Chairman, Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler says with the introduction of Voluntary Assets and Income Declaration Scheme (VAIDS), no Nigerian can evade tax payment.
Grant tax relief to industries operating in Nigeria, broker appeals to FG
Chief Angus Uzoamaka, an Abuja-based insurance broker, has urged the Federal Government to consider tax relief for industries operating in Nigeria in order to boost economic development.
Inadequate data hinders effective administration of property tax – don
Prof. Timothy Nubi of University of Lagos on Thursday identified inadequate data and poor documentation as impediments to effective administration of property tax in the country.
Football greats fall foul of Spanish taxman
From Barcelona’s star striker Lionel Messi to his arch-rival Cristiano Ronaldo at Real Madrid, many football stars have fallen foul of the Spanish taxman over the past few years.
