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).

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.

The Delta Board of Internal Revenue (DBIR) on Friday sealed 12 companies, hotels and schools in Warri, over tax liabilities.

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.

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).

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.

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.

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.

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.

Due to the laziness and incompetence of our successive governments Nigeria has failed to establish such a quick-check system.