Tax reforms and Nigerians abroad
Nigeria stands at the edge of a fiscal revolution. For decades, the country has struggled under the weight of a tax system that is tangled
How to end Tinubu’s tax-quake
By Luminous Jannamike NIGERIA is facing a significant change with the new Tax Reform Bill introduced by President Tinubu.This ambitious plan aims to consolidate 66 different taxes into just 8 and adjust the VAT (Value Added Tax) to align with other West African countries. While this sounds promising and could help the government generate more […]
Tax Reform Bills: People we’re trying to protect are fighting us – Oyedele
‘We thought the push-back would come from Lagos and Rivers. It’s almost like we ended up with the people we are fighting for are now fighting us”
Over centralisation of power responsible for tax reform controversy – Agbakoba
Agbakoba has attributed the ongoing controversy and opposition of the proposed Tax Reform Bills to over-centralisation of power
Tinubu can pass tax bills, but Nigerians will bear consequences – Zulum warns
“If the president wants to use his power to pass the tax bill, he may have his way, but it has its consequences on the people.”
Senate passes tax reform bills for second reading
Prior to debate on the bills, the Senators had gone into a closed door session from 11.55am to 12.42pm.
Non PAYE remittance has wider implications
It would be a shame and a travesty if someone whose monthly pay had been consistently deducted on account of PAYE has no such proof to tender when required
5% excise tax: Telcos’ll soon die like NITEL — MTN CEO, Toriola
He said the telcos existing at the moment are only spending their reserves, which will run out sooner than later
FG records tax revenue windfall, banks’ tax rises 109.6%
By Elizabeth Adegbesan There are indications that the Federal Government (FG) is having great times in its finances as its revenue from Value Added Tax (VAT) and Company Income Tax (CIT) rose by 85 per cent year-on-year, YoY, to N6.44 trillion in H1’24. The same period last year (H1’23) yielded only N3.48 trillion. Meanwhile, the leading […]
Oxfam warns of worsening inequality as 99% wealthy Nigerians evade tax
As hardship grips Nigerians, Oxfam in Nigeria raised alarm on Tuesday over the alarming trend of over 99% of wealthy Nigerians evading taxes while millions suffer from hunger.
Nigeria’s super-rich to pay 25% tax – Taiwo Oyedele
Nigeria’s wealthiest citizens will be subject to a Personal Income Tax (PIT) rate of 25% starting next year. Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, announced this during the ongoing #NES30 conference in Abuja.
New bill mandates tax ID for bankers, other financial professionals to operate bank accounts
federal government has introduced a new bill that could drastically reshape the financial services sector, requiring all individuals involved in banking, insurance, others…
Be sensitive to plight of masses, review multiple taxes – Reps tell FG
The House of Representatives has urged the Federal Government and relevant authorities to be sensitive to the plight of the masses by reviewing current tax policies to prevent the imposition of unnecessary and multiple taxes, particularly on essential goods and services.
Firm picks holes in FG’s withholding tax regulations, seeks urgent action
Kreston Pedabo, one of the major accounting firms in the country, has raised concerns about the recently updated Withholding Tax (WHT) regulations in Nigeria, highlighting potential uncertainty for taxpayers
Tinubu forwards four tax reforms bills to National Assembly, changes FIRS to NRS
President Tinubu said: “I am confident that these bills, once passed into law, will encourage and stimulate the economy”
Withholding Tax regulations gazetted; to be published today – Oyedele
“The only reason it hasn’t been published today (yesterday) is because it is a public holiday. So first thing tomorrow (today) you will see a copy of the gazette”
