The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has said multiple taxation does not exist in the country’s tax system. This is just as he urged stakeholders both in the organised private and public sectors to expedite action in payment of taxes. Speaking in an interactive session held in Lagos, with the […]
Read More The Federal Inland Revenue Service (FIRS) says defaulting wealthy Nigerian taxpayers who have no Taxpayer Identification Numbers (TIN) have only a 30 days lien to do so. The agency also said other Nigerians and firms with a turnover of N100 million in their accounts, but not paying taxes have only a 30 days lien to […]
Read More The country’s taxpayer roll is set to hit 33 million. This was disclosed by Mr. Tunde Fowler, Chairman, Joint Tax Board (JTB) and Executive Chairman, Federal Inland Revenue Service (FIRS) at the 142nd meeting of the JTB in Bauchi Monday. According to Fowler, the ongoing database consolidation of the JTB, an initiative being executed in […]
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About 209 cases worth over ₦6 trillion are currently pending at the various zones of the Tax Appeal Tribunal across the country. The Permanent Secretary, Ministry of Finance, Mahmoud Dutse, said this at the inauguration of commissioners for the Tax Appeal Tribunal. The breakdown of the ₦6 trillion pending cases across the six geo-political zones […]
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The U.S. Ambassador to Nigeria, Mr Stuart Symington has attributed poor social infrastructure development in Nigeria to the weak system of tax collection in the Country. Symington made this known on Tuesday, while speaking at the 10th anniversary colloquium of the Nigerian Development Finance Forum, organised by Financial Nigeria Magazine in Abuja. He blamed the […]
Read More The Federal Inland Revenue Service has expressed its commitment to increase government’s revenue through taxation by 20 per cent before the end of the 2018 financial period. As part of efforts to achieve this target, the FIRS said it had started introducing some initiatives, according to a communiqué issued after a recent meeting of the […]
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The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has disclosed that the agency will soon target defaulting taxpayers who have billions in their bank accounts but refuse to honour tax obligations to the country. He said over 6,772 billionaire taxpayers had been identified by the service leveraging on bank data, […]
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The Lagos Chamber of Commerce and Industry (LCCI) on Thursday decried freezing of customers’ bank accounts based on “disputed tax assessments” by Federal Internal Revenue Service. The Director-General of LCCI, Mr Muda Yusuf, also described the new tax revenue recovery strategy adopted by FIRS as damaging to the economy. “The attention of LCCI has been […]
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The latest Global Wealth Migration review says rich people are leaving Lagos in droves for other cities because of taxes. According to the report, some of the reasons high net worth people are leaving their locations are taxes and increasing crime rates. Other cities affected are London and Istanbul. The report said 1000 wealthy people […]
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The Federal Government is targeting 15 per cent tax contribution to the Gross Domestic Product (GDP) through improved tax collection strategies, the Minister of Budget and National Planning, Senator Udo Udoma, has said. Udoma stated this in Lagos at the private equity summit organised by Udo Udoma and Belo-Osagie Law Firm with the theme “Nigeria: […]
Read More The Chairman, Joint Tax Board (JTB), Mr. Babatunde Fowler, says the board is set to capture 40 million Nigerians outside its tax net by March, next year. Fowler, who is also the Chairman, Federal Inland Revenue Service(FIRS) gave the new target in Sokoto on Monday during a courtesy visit to the Sultan of Sokoto, Sultan […]
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Italian tax authorities say Amazon will pay 100 million euros ($118 million) to end a dispute over its tax payments from 2011-2015. The agreement announced Friday comes as many European countries seek to close loopholes in tax payments by major multinationals. Amazon confirmed the agreement in a statement, without disclosing the amount it would pay. […]
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