We must tax prudently and borrow less
Minister of Finance, Mrs Kemi Adeosun, gave conflicting signals recently when she said Nigeria will no longer borrow to fund the budget, only to recant shortly after. We are fully in support of the need to apply more caution in our current craze for borrowing because the economy is being increasingly over-burdened by debt.
We need effective tax system to rejuvenate economy in 2017 – Jibrin Musa
As experts raise issues on 2017 budget and measures needed to accerelate growth in the economy this year, trade facilitators are calling on effective taxation system, as one of the ways to boost growth in the system.
Scandal: Only 13.4 million Nigerians pay tax
The news came like a thunderbolt, and it is almost unbelievable, at least to those who are exposed to the normal ways governments are run in other climes. Chairman of the Federal Inland Revenue, Mr Babatunde Fowler, has disclosed that only 13.4 million, or about 16 per cent of an estimated population of 180 million Nigerians (out of which about 80 per cent are adults) pay their taxes.
Katsina State Govt. to sanction Glo telecom over alleged tax default
The Katsina State Urban and Regional Planning Board (KURPB), has threatened to seal 150 sites belonging to Glo telecommunications in the state for allegedly default in the payment of tenement rates to the government.
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.
Internal revenue seals18 hotels for tax evasion
The Lagos State Internal Revenue Service (LlIRS) says it has sealed 18 hotels for failing to remit N34.79 million hotel occupancy and consumption tax to the state government.
Anambra revenue agents, market women clash over tax
Determined to enforce the payment of an annual N30,800 per market woman at Nkpor Main Market in Idemili North Local Government Area of Anambra State, the state government revenue agents have allegedly locked up over 80 shops belonging to members of Nkpor Women Petty Traders Association and forcefully kicked them out of the market.
Reps summon FCT Minister over tax
The House of Representatives on Wednesday summoned the Minister of the Federal Capital Territory (FCT) Alhaji Mohammad Bello, to appear before its Committee on FCT over taxes being collected in the territory.
Akwa Ibom to collect tax for consumption of Alcohol
The Akwa Ibom Commissioner for Finance, Mr Akan Okon, said consumption of alcohol in hotels and beer parlours in the state would now attract tax.
FG mulls tax rebate for e-businesses
The Senior Special Assistant to the President on Job Creation/Youth Employment, Afolabi Imoukhuede, has said that the Federal Government is considering tax holidays and rebates for qualifying technology start-ups in the country so that they can employ more people and grow the entrepreneurial sectors of the economy.
How Buhari will raise trillions from tax
“Nigerians are naturally enterprising people. So we believe that if government can provide excellent infrastructure, roads, transport and power, they will no longer be waiting for government to provide jobs. They will create their own businesses” – Senator Udo Udoma, Minister for Budget and Planning, December 28, 2015.
