TAXATION

The Federal Government on Monday disclosed that over N200 billion tax appeal cases are pending  before the newly- strengthened Tax Appeal Tribunal (TAT). The government also revealed that it is working towards the strengthening of the operations and legal framework of the Tax Appeal Tribunal in line with the recommendations...

  The Federal Inland Revenue Service (FIRS) has announced the collection of N12.66 billion revenue less than a month into the unveiling of its account substitution policy of defaulting taxpayers. The Executive Chairman of FIRS, Mr. Tunde Fowler, disclosed this at the weekend when he received the new Minister of...

  The Lagos Chamber of Commerce and Industry (LCCI) and the Association of Bureau De Change Operators of Nigeria (ABCON) have rejected the move by the Federal Inland Revenue Service (FIRS) to freeze accounts of tax defaulters. The bodies described the decision as an act of intimidation which will affect...

  Executive Chairman, Federal Inland Revenue Services (FIRS), Mr. Babatunde Fowler, has said that taxation is the way to achieving a sustainable economy and a robust funding of government infrastructures and social services. Fowler said this while speaking on the theme: “Tax: An Old Wave on a New Shore” at...

The Federal Inland Revenue Service (FIRS) has said that it realized a total of N2, 529,615,174,601.25 (Two trillion, five hundred and twenty-nine billion, six hundred and fifteen million, one hundred and seventy-four thousand, six hundred and one naira, twenty-five kobo) from various taxes from January to June 2018. The amount...

  Chairman of the Federal Inland Revenue Services (FIRS), Babatunde Fowler, has declared that there is no case of multiple taxation in the country, contrary to the widely held notion. The FIRS boss who stated this while briefing State House Correspondents after a session with the Federal Executive Council (FEC),...

The Federal Government has mandated all Ministries, Departments and Agencies of government (MDAs) and the Federal Inland Revenue Service (FIRS) to authenticate all Tax Clearance Certificates (TCCs) presented by companies and individuals engaged in public procurement processes. This directive is in response to the proliferation of forged TCCs purportedly issued...

  FG to present certificates to taxpayers under VAIDS The Federal Government has approved the issuance of a Declaration Certificate to taxpayers under the Voluntary Assets and Income Declaration Scheme (VAIDS) even as it has said a total of N30 billion has been recovered under the scheme. The Declaration Certificates,...

  The Distillers and Blenders Association of Nigeria (DIBAN) says it rejects the new ”astronomical increase” in excise duty being imposed on domestic wines and spirits. Tax The Chairman of DIBAN, Chief Patrick Anegbe told newsmen on Wednesday in Lagos, that the hike was a threat to the N420 billion...

  President Muhammadu Buhari has approved the extension of the Voluntary Assets and Income Declaration Scheme (VAIDS) to June 30. The approval for the extension of the deadline is contained in a statement issued by the President’s Special Adviser on Media and Publicity, Mr Femi Adesina, in Abuja on Wednesday....