* Service vows to ensure elites pay more tax in 2020 Statistics from the Federal Inland Revenue Service (FIRS) has shown that despite Nigeria’s revenue deficit, the country is losing about $10 billion of tax collections. These leakages are through illegal profit shifting by multinational
The Federal Inland Revenue Service (FIRS) says it is targeting N8.5 trillion revenue for the country in 2020. The Executive Chairman of FIRS, Mr Muhammad Nami, disclosed this at the 2020 Corporate Plan Retreat in Abuja on Friday. 7.5% VAT deductions on voice calls is under FIRS, says Minister Nami said that the 2020 target […]
Mr Akinsanya Niyi, 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. Breaking: Buhari seeks Senate’s confirmation of […]
Following the decision of the Nigerian Senate to levy a 9 per cent communication service tax on Electronic Communication Services, the Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, has said that there was no harm in introducing the tax. He also went ahead to berate Nigerians for reacting to the decision of […]
…As States IGR grew by 46.11% to N1.16trn in three years As part of efforts to increase the nation’s revenue through taxation, Federal Inland Revenue Service (FIRS) has said about 45 million Nigerians will be captured as taxpayers before December 2019. Also, the Internally Generated Revenue (IGR) collection at the sub-national level grew exponentially by […]
Philip Clement – Abuja The Federal Inland Revenue Service (FIRS) says it will commence the imposition of value-added tax (VAT) on online transactions, both domestic and international, starting from January 2020. FIRS executive chairman, Babatunde Fowler made this disclosure yesterday at the African Tax Administration Forum (ATAF) technical workshop in Abuja. Fowler
The Buhari Media Organisation (BMO) has expressed surprise that a company owned by former President Olusegun Obasanjo is on the list of over 19,000 tax defaulters recently released by the Federal Inland Revenue Service (FIRS). BMO says this is because of Obasanjo’s status as a national leader who has, since leaving office in 2007, been […]
Ladesope Ladelokun The Association of Telecommunications Companies of Nigeria (ATCON) has passed a vote of confidence on the newly-appointed Board Chairman of MTN Nigeria, Dr Ernest Ndukwe, expressing confidence in what it described as his dynamic leadership style to positively impact the company. ATCON President, Mr Olusola Teniola, made this known in a statement made
Motolani Oseni The Chairman, Joint Tax Board (JTB), Mr. Tunde Fowler, on Monday, said that the Internally Generated Revenue (IGR) of the 36 states and FCT grew by more than 46.1 per cent to N1.16 trillion in 2018. Fowler made this known at the Go-Live Ceremony for the New National Tax Identification Number (TIN) Registration […]
Isaac Oguntoye The 2019 edition of African Business Summit (ABS) and Development In Africa Merits Awards (DAMA) is set to hold this year at the Sheraton Hotel, Ikeja, on the 24th of May 2019. With prominent individuals and companies like Chairman of Federal Inland Revenue Services (FIRS) Babatunde Fowler, Nigeria Stock Exchange Chief Executive, Oscar […]
