tax

Tax: well done, FIRS

The Federation Account Allocation Committee (FAAC) meeting for June 2016 revenue distribution was delightful on account of the huge surge in resources shared amongst the tiers of government. A total of N559 billion was shared as against N305 billion in the previous month.
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Messi’s humble image faces tax evasion test

Idolised for his immense skill on the field, four-time World Footballer of the Year Lionel Messi’s squeaky-clean image off the pitch will come under scrutiny on Friday when he faces a judge accused of tax evasion.

Evading tax responsibility

ON Tuesday, July 30, 2013, a bizarre drama played itself out at the Benin City airport when passengers coming into or leaving the ancient city found to their dismay both the entrance and exit points under lock and key.

Jonathan charge Fed Agencies to pay N2.5billion tax owed to Edo Govt

THERE are indications that President Goodluck Jonathan may have ordered all Federal Government agencies in Edo state to pay the over N2.5billion owned to the state government from Pay As You Earn (PAYE) tax so as to avoid such crisis that led to the closure of the Benin Airport last week.

FIRS’s new drama series harps on tax compliance

The high rate of corruption in the land can be attributed to the inability of people to do their duties well and worse still those who fail to obey the law are not punished. It is a binding duty for all to pay their taxes, partake in environmental sanitation exercise, use the pedestrian bridges while crossing the express ways and other civic duties. But to many, the Nigerian factor where anything goes has taking the upper side to the extent that when you see one who wants to follow due process, the person is regarded as not normal.

Tribunal orders oil firm to pay $1.7m tax default to FIRS

BENIN—Two days after Edo State Government and Federal Airport Authority of Nigeria, FAAN, bickered over tax payment, the Tax Appeal Tribunal, TAT, South-South Zone, has ordered Global Marine Baltic Incorporation, a multi-national oil company to pay $1,770,995 (about N279.8 million) tax due to the Federal Inland Revenue Service, FIRS.

FG earns N522bn from fuel tax, royalties

The Federal Government earned about N522.1billion from Petroleum Profit Tax, PPT, royalties and domestic crude oil and gas sales in May 2013, according to data released by the Central Bank of Nigeria, CBN.

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