News

Revenue : NASS tasks FIRS  to generate  N25 trillion in 2025

DailyTimesNGR DailyTimesNGR 16 January 2025 0

…commends it for hitting N21.6trillion in 2024  By Tunde Opalana The National Assembly has set a revenue target of N25 trillion for the Federal Inland Revenue Service (FIRS) in the 2025 fiscal year. This is as the  Executive Chairman of FIRS,  Mr Zacch Adedeji was

Opinion

What to expect from FIRS in 2025

DailyTimesNGR DailyTimesNGR 12 January 2025 0

By Arabinrin Aderonke Chairman of the Federal Inland Revenue Service FIRS, Dr. Zacch Adedeji, and his team did so much in 2024 that one can’t help but wonder what 2025 holds. This is a man who is not only ready to work, but also committed to doing what is necessary in the tax sector. But […]

Headlines

Tax reform Bill not to increase payment – FIRS

DailyTimesNGR DailyTimesNGR 17 October 2024 0

By Tom Okpe Chairman, Federal Inland Revenue Service, FIRS, Zack Adedeji, has said the tax reform Bill recently presented to the National Assembly is not aimed at increasing tax or introducing new taxes into the nation’s tax books. He also said the four tax reform Bill’s aim is to harmonise all tax laws, scattered in […]

Headlines

FIRS to introduce e-invoice to enhance Nigeria’s tax system

DailyTimesNGR DailyTimesNGR 19 September 2024 0

The Federal Inland Revenue Service (FIRS) says it will introduce the FIRS e-Invoice, a digital solution for managing invoices, in line with the Tax Administration and Enforcement Act 2007. Executive Chairman, FIRS, Dr Zacchaeus Adedeji, stated this on Wednesday in Lagos at the LCCI-FIRS Organised Private Sector Stakeholders Engagement with the theme: “Emerging Tax

News

Nigerians in Diaspora group says FIRS Boss Zacch Adedeji Crypto tax reforms a game changer

DailyTimesNGR DailyTimesNGR 26 August 2024 0

The Nigeria Professionals in Diaspora group has praised Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), for his innovative crypto tax reforms, describing them as a game changer for Nigeria’s economy. In a statement delivered during a press conference in Abuja and signed by Dr. Obiora Okereke, President, and Chief Mrs. […]

News

1000 CSOs Laud FIRS Boss Zacch Adedeji for Championing Nigeria’s Crypto Tax Revolution

DailyTimesNGR DailyTimesNGR 26 August 2024 0

About 1000 Coalition of Civil Society Organisations (CSOs) has commended Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), for his pioneering efforts in revolutionizing Nigeria’s tax system to accommodate cryptocurrencies. In a press conference addressed in Abuja on Monday and signed by Mallam Yakubu Mohammed, National Coordinator,

News

Court discharges Binance executive, Gambaryan, in FIRS’s tax evasion charge

DailyTimesNGR DailyTimesNGR 15 June 2024 0

BY ANDREW OROLUA The Federal High Court sitting in Abuja on Friday discharged Tigran Gambaryan, a 39-year-old American, and fleeing Nadeem Anjarwalla from the tax evasion charges preferred against them and the cryptocurrency exchange platform, Binance by the Federal Inland Revenue Service (FIRS). The court made the decision in a short ruling following an amended […]

Business

Tax Default: Reps urges FIRS to recover N5.19trn taxes from MDAs, oil Companies

DailyTimesNGR DailyTimesNGR 8 March 2024 0

By Tom Okpe The House of Representatives had urged the Federal Inland Revenue Service, (FIRS) to recover taxes of over N5.19trn owed the Federal Government by Ministries, Departments and Agencies, Oil Companies and individuals. The House, arrived at this resolution following adoption of a motion at plenary on Thursday, moved by Rep Esosa Iyawe, representing […]

News

FIRS Chairman’s office renovation justifiable, don’t listen to cheap blackmail – Source

DailyTimesNGR DailyTimesNGR 4 March 2024 0

By Tunde Opalana A source within the Federal Inland Revenue Service (FIRS) has described as cheap blackmail a claim that the chairman, Mr. Zacc Adedeji has approved renovation of an office he wished to occupy without recourse to due process of contract award. There was an allegation that the chairman approved that a sum of […]

Headlines

Senate, FIRS fault Buhari’s N2.59trn road tax credit scheme

DailyTimesNGR DailyTimesNGR 15 February 2024 0

By Tunde Opalana The Tax Credit Scheme introduced by the past administration of President Muhammad Buhari and continued by the Bola Tinubu administration for road construction has come under fire from the Senate and the chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacheus Adedeji. During an interactive session organised by the Senate Committee […]

Headlines

No plans to tax online content creators – FIRS

DailyTimesNGR DailyTimesNGR 13 February 2024 0

The Federal Inland Revenue Service (FIRS), says it has no plans to tax online content creators. According to a staff of the agency who spoke under the condition of anonymity, skit makers are individuals who do not fall within the purview of the FIRS. “FIRS does not tax Personal Income Tax, States governments do. “FIRS […]

Business

FIRS commences nationwide tax compliance monitoring

DailyTimesNGR DailyTimesNGR 18 October 2023 0

By Motolani Oseni Federal Inland Revenue Service (FIRS) has concluded plans to commence a nationwide Value-Added Tax (VAT) and Withholding Tax (WHT) compliance monitoring exercise for all taxable individuals effective 23 October 2023. The Acting Executive Chairman of the FIRS, Zacch Adedeji, in a statement explained that the initiative is designed to improve tax compliance

Business

FIRS posts highest tax revenue of N5.5trn in six months

Ihesiulo Grace 21 July 2023 0

By Motolani Oseni The Federal Inland Revenue Service (FIRS) has announced a total tax revenue collection of N5.5 trillion for the half-year period of January to June 2023. This is the highest tax revenue collection ever recorded by the Service in any first six months of a fiscal year, the agency said in a statement […]

News

FIRS to begin VAT compliance monitoring exercise July 1

Ihesiulo Grace 10 June 2022 0

The Federal Inland Revenue Service (FIRS) says it will embark on a nationwide value-added tax (VAT) and withholding tax (WHT) compliance monitoring exercise for all taxable persons from July 1. Executive chairman, FIRS, Muhammad Nami said this on Thursday in a circular published on its Twitter page. Withholding Tax (WHT) is a method used to […]

Headlines News

FIRS seeks tax compliance approval for holding political offices

Ihesiulo Grace 25 May 2022 0

The Federal Inland Revenue Service (FIRS) says tax compliance should be a prerequisite for clearing aspirants to contest elective positions. Muhammad Nami, executive chairman, FIRS and chairman, Joint Tax Board (JTB) made the recommendation on Tuesday at a meeting with the Independent National Electoral Commission (INEC) in Abuja. The meeting was aimed at strengthening

News

Digital technology deployment, key to improving revenue generation — FIRS

Ihesiulo Grace 20 November 2021 0

The Federal Inland Revenue Service (FIRS) says the deployment of digital technology is key to improving revenue generation, hence, the need to speed up digitalization of internal processes. Mrs. Angel Fadahunsi, Director, Department of Career and Skill Development, FIRS, stated this on Friday in Abuja during a capacity building workshop aimed at highlighting the importance

Business Headlines

FIRS generated N4.2trn between Jan and Sept 2021, despite COVID-19 — Chairman

Ihesiulo Grace 12 November 2021 0

The Federal Inland Revenue Service (FIRS) says it generated the sum of N4.2 trillion between January and September 2021, in spite of the challenges posed by COVID-19. Executive chairman of FIRS, Mr. Mohammad Nami made the disclosure during FIRS Special Day at the 2021 Lagos International Trade Fair (LITR), on Thursday, in Lagos. The News […]

News

NYCN backs FIRS reforms, flays critics

Ihesiulo Grace 26 October 2021 0

By Doosuur Iwambe, Abuja The National Youth Council of Nigeria (NYCN), has said the ongoing reforms in the Federal Inland Revenue Service (FIRS) are tailored towards strengthening the nation’s economy. The NYCN position is coming on the heels of reports that the service in its 2022 budget proposal allocated outrageous sums for uniforms, meals, allowances […]

Business Headlines

FIRS has statutory powers to collect VAT — Maduabuchi

Ihesiulo Grace 27 September 2021 0

As the controversy over the collection of Value Added Tax (VAT) rages, a Senior Advocate of Nigeria (SAN), Chief Oba Maduabuchi, has said the provisions of the 1999 Constitution and the Value Added Tax Act which empowers the Federal Inland Revenue Services (FIRS) to collect VAT should be respected. The controversy over the subject matter […]

Business

FIRS targets N10.104 tr revenue in 2022

Ihesiulo Grace 3 September 2021 0

*Achieved 47% of 2021 collection in six months Tunde Opalana, Abuja The Federal Inland Revenue Service (FIRS) has projected a revenue collection of N10,104,154,060,640.10 in the 2022 fiscal year. The projected collection was presented in the 2022-2024 Medium Term Expenditure Framework (MTEF) of FIRS to the Senate Committee on Finance at a 3 days MTEF/ […]