By Olasunkanmi Akoni Tough time seems to await prospective property owners as Lagos State Government said that henceforth, it would only attend to applications for housing transactions that are accompanied with evidence of tax payments by applicants. The move, it was gathered, was part of tax net drive to boost the Internally Generated Revenue, IGR, […]

By Olasunkanmi Akoni The Lagos State Government has said that henceforth, it will only attend to applications for housing transactions that are accompanied with evidence of tax payments by applicants. The move, it was gathered was part of tax net drive to boost the Internally Generated Revenue, IGR, of the state, put at an average […]

By Johnbosco Agbakwuru The Federal Government on Wednesday approved the automated platform for the issuance of Import Duty Exemption Certificate (IDEC)  as well as vehicle identification and registration number.    The platform is for government to effectively track and manage all revenue accruable from import duties and other charges. The Minister of Finance, Budget and National […]

Mr Niyi Akinsanya, a financial expert has urged the newly appointed executive chairman of Federal Inland Revenue Service (FIRS) to improve on deployment of Information Technology (IT) system to expand tax net. Niyi gave the advice on Tuesday while speaking with the News Agency of Nigeria (NAN) in Abuja. The expert while reacting to appointment […]

Capital market operators on Tuesday urged the new Federal Inland Revenue Service (FIRS) chairman to ensure the removal of Value Added Tax on capital market transactions to boost investment in the country. They said this in separate interviews with the News Agency of Nigeria (NAN) in Lagos while reacting to the appointment of Mr. Muhammad […]

Emma Ujah There is palpable anxiety among management and senior staff of the Federal Inland Revenue Service (FIRS) as the four-year tenure of the Executive Chairman, Mr Tunde Fowler ended yesterday without a word from the Presidency. Fowler’s tenure is renewable but there has not been any movement in that regard, as at the time […]

By Dennis Agbo Tax: Enugu State Internal Revenue Service, ESIRS, has sealed no less than 40 business premises in the state for their inability to comply with taxations. Chairman of the ESIRS Board, Mr. Emeka Odo said the service has penciled down 3,000 financial, educational and other related institutions and business concerns that would be […]

ALL over the world, governments use tax revenues to provide jobs, build dams and roads, operate schools and hospitals, provide medical care and for hundreds of other purposes. Without taxes to fund its activities, government could not actually exist.

WHEN the tenure of a chief executive is coming to an end, there’s usually a feverish outbreak of schemes to push him over the edge, for good or bad reasons. Lobbyists are masters of the game. They keep a diary of appointment and termination dates – including possible renewal where the law permits – and also […]

Jordi Cruyff believes that players are leaving Spain because there are more lenient tax laws elsewhere. The Dutchman was speaking about the possibility of Neymar returning to Barcelona and hinted that tax laws in Spain are a disadvantage at attracting and keeping top players. ALSO READ: The day Ruud Van Nistelrooy made Cristiano Ronaldo cry “Neymar […]

By whatever yardstick it is measured, the current management of Federal Inland Revenue Service (FIRS) has, with its performance in the last four years, actually outperformed its predecessors. This is despite the recession that lasted from 2016 to 2017 occasioned by the steep crash in oil price. They performed better in terms of non-oil revenue. This was achieved through innovative thinking introduced by Babatunde Fowler-led management.

Soni Daniel – Abuja The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has seized 44 property valued at N14.7 billion belonging to 32 firms over tax evasion. The confiscated property, according to a statement by the Spokesperson to the commission, Mrs. Rasheedat Okoduwa, are made up of mansions, factory and 27 plots of […]

Emma Ujah – Abuja The Federal Government has paid the sum of N157.35 billion Pay As You Earn (PAYE)  tax arrears to state governments. It represented liabilities owed by Federal Ministries, Departments and Agencies, MDAs to states, Executive, Chairman, Federal Inland Revenue Service (FIRS) and Chairman of the Joint Tax Board, (JTB), Mr Tunde Fowler, […]

  President Donald Trump’s longtime accounting firm must hand over eight years of his tax returns to New York prosecutors, a U.S. appeals court ruled Monday in the latest setback for Trump in his tenacious efforts to keep his finances secret. The ruling by a unanimous three-judge panel of the New York-based 2nd U.S. Circuit […]

By Emeka Anaeto and Babajide Komolafe Still pushing for an improvement in Nigeria government’s performance in fiscal policy, the International Monetary Fund (IMF), yesterday, recommended a Tax-to-GDP ratio of 15 per cent for the country. Presently Nigeria is at about six per cent, considered one of the lowest in the world. The IMF is focusing […]