CITN decries corruption in tax administration in Nigeria
The Charted Institute of Taxation of Nigeria, CITN, has attributed the low tax culture among taxable adults and businesses in Nigeria to lack of accountability and transparency in the expenditure of tax money by tiers of government.
BBNaija 2020: Lagos Govt awaits Laycon to pay tax in 2021
By David Royal The Lagos State Internal Revenue Service, LIRS, while congratulating the winner of Big Brother Nigeria reality Tv show season 5, Olamilekan Agbeleshe, popularly known as ‘Laycon’ urged him to be ready to pay his tax in the year 2021. The agency made this known in a tweet on Monday. It said “Congratulations […]
Osinbajo calls for overhaul of tax system
Vice President Yemi Osinbajo has called for an overhaul of the international tax system to tackle the scourge of illicit financial flow, IFF, and related vices negatively impacting progress in developing countries, especially in Africa. He made the call at the virtual press launch of a publication by the United Nations Conference on Trade and […]
Students in Ogun are not to pay tax – OGIRS Chairman
In an effort to drive revenue and encourage taxable adults in Ogun State to be Tax compliant, newly admitted students into the State Tertiary Institutions are expected to present their parent’s Tax Clearance Certificate (TCC) or evidence of payment of tax as part of admission processes. The Chairman, Ogun State Internal Revenue Service (OGIRS) Mr […]
Tax revenue key to funding operations of govt at all Levels — FIRS Executive Chairman, Muhammad Nami
COVID-19 pandemic has impacted negatively on the Government’s revenue sources. In June 2020, the Federation Accounts Allocation Committee (FAAC) shared a total of N696 billion to the three tiers of the Government of Nigeria. FIRS alone contributed 70 percent of the amount shared while other revenue-generating agencies altogether contributed 30 percent. The Executive Chairman of FIRS, Muhammad Nami, in a recent telephone interview with NigeriaInfo (95.1FM) said without revenue from taxes, the Government would be unable to fund her programmes and activities. Nami also clarified why paying Stamp Duty on tenancy agreement should not cause a price increase in house rent.
EY advocates reshaping of tax agenda for Nigeria, other African countries
…Holds tax summit By Peter Egwuatu Ernst & Young, EY has explained the need for Nigeria and other African countries to reshape its tax agenda in view of the coronavirus, COVID-19 pandemic. To this development, EY Africa has concluded all necessary arrangements towards hosting one of the biggest Tax Summit in the Continent. This year’s […]
