The Federal Inland Revenue Service (FIRS) has grossed ₦4 trillion in taxes last year. This was disclosed yesterday by the FIRS Chairman, Mr. Babatunde Fowler, during a visit of the members of the Senate and House of Representatives Finance Committees to the palace of the Oba of Lagos, Oba Rilwan Babatunde Akiolu. The visit was […]
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Having grossed ₦23 billion from the Voluntary Assets and Income Declaration Scheme (VAIDS) in 2017, the Federal Government expects to net considerable tax revenue this year through the scheme. According to Mr. Tunde Fowler, Chairman of the Federal Inland Revenue Service (FIRS), VAIDS had earned the Federal Government the sum of ₦17 billion by early […]
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The Federal Government has agreed to look into claims of surrounding states losing revenues to the Federal Capital Territory, FCT, Abuja. Minister of Finance, Mrs Kemi Adeosun made the offer yesterday when she received the Niger State Governor, Alhaji Mohammed Bello in her office in Abuja. Adeosun lamented that losing N1 billion monthly to the […]
Read More The Nigerian Government expected to rake in an additional ₦6 billion from the implementation of the Voluntary Assets and Income Declaration Scheme before the end of the year, the Executive Chairman, Federal Inland Revenue Service, Mr. Babatunde Fowler, has said. Fowler said that a total of ₦17 billion had been realised from the scheme in […]
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The Central Bank of Nigeria and other agencies involved in the implementation of the Financial System Strategy 2020 will converge on Lagos this week to mark 10 years of strategising to bring into existence the programme. The objective of the event, which holds on Wednesday and Thursday, is to review the status of the FSS […]
Read More Four months after the Federal Government launched the Voluntary Assets and Income Declaration Scheme (VAIDS), which commenced on July 1, an estimated $50 million has already been raised by tax authorities. The Chairman of Federal Inland Revenue Service (FIRS), Babatunde Fowler, made the disclosure at the Nigeria Governors’ Forum Secretariat (NGFS) annual IGR Peer Learning […]
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The Federal Inland Revenue Service (FIRS) and the Institute of Chartered Accountants of Nigeria (ICAN), yesterday, disagreed over Senate’s move to alter the Company Income Tax Act (CITA), which seeks to increase pioneer status to new companies in Nigeria from five to 10 years. While FIRS opposed the proposal, ICAN supported it. The two institutions […]
Read More The Executive Chairman of the Federal Inland Revenue Service’s, Tunde Fowler yesterday said that a total of ₦2.5 trillion was added to the Federal Government’s coffer by the agency between January and August, 2017, despite the harsh economic climate. Speaking at a public lecture organised by Finance Correspondents Association of Nigeria (FICAN) Abuja branch to mark […]
Read More The United Nations Secretary-General, Antonio Guterres, has named Tunde Fowler, Executive Chairman, Federal Inland Revenue Service, FIRS, as a member of the International Experts Committee on Tax Matters. The committee has 25 members worldwide. Mr. Fowler’s appointment was conveyed by Bolaji Akinremi, Minister Plenipotentiary of Nigeria Permanent Mission, New York, in a mail to the […]
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The Nigeria’s Federal Inland Revenue Service (FIRS), through tax collections, generated the sum of ₦2.11 trillion as revenue from January to July, 2017. This is contained in a progress report of the FIRS from Jan. to July, 2017 obtained by the News Agency of Nigeria (NAN) on Monday, showing their revenue performance and impact of […]
Read More The Federal Inland Revenue Service on Wednesday closed down an MRS Oil’s facility in Lagos over a tax debt amounting to ₦497.1m, an action the agency described as part of measures being taken against tax-defaulting companies in the country. An enforcement team, led by Mrs. Anita Erinne, reportedly sealed off the premises of the MRS […]
Read More The Federal Inland Revenue Service on Monday sealed off four companies in Lagos and Port Harcourt over their alleged failure to meet their tax obligations totalling ₦630m. The affected firms include Charcoal and Spices Restaurant Limited, GRA, Port Harcourt, and Cioscon Nigerian Limited, Aba Road, Port Harcourt. The leader of the FIRS enforcement team, Mrs. […]
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