News

Eid-el-Kabir: FIRS felicitates with Muslims, extends filing deadline for taxpayers

Ihesiulo Grace 30 July 2020 0

As the Muslim world celebrates the Eid-el-Kabir today, the Federal Inland Revenue Service (FIRS) has joined the rest of the country to felicitate with Muslims nationwide, Daily Times gathered.  In the spirit of the festivities and further to earlier palliative measures rolled out by the Service

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FIRS further extends tax debt payments to August 31st 

Ihesiulo Grace 8 July 2020 0

The Federal Inland Revenue Service (FIRS) has further extended the closing date of its waiver of penalty and interest window on tax debts owned by individuals and businesses from June 30, 2020, to August 31st, 2020. In a statement released to the newsmen on Wednesday morning by its Director, Communications and Liaison Department, Abdullahi Ismaila […]

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FIRS to collect stamp duty on rents, lease, others

Ihesiulo Grace 3 July 2020 0

The Federal Inland Revenue Service (FIRS) has declared that documents pertaining to rent or lease agreements for homes or offices, including certificate of occupancy as well as business-related transactions are subject to stamp duty payment. According to the FIRS Director, Communications and Liaison Department, Abdullahi Ahmad, this is necessary in order to give the

Business

House rent agreement, C of O, others must carry stamp duty, says FIRS

Ihesiulo Grace 3 July 2020 0

The Federal Inland Revenue Service (FIRS) has alerted Nigerians and others resident in the country to make sure that documents pertaining to rent or lease agreements for their homes or offices, Certificate of Occupancy (C of O) as well as a list of other common business-related transaction instruments are subject to authentication with the new […]

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Lawan charges FIRS to widen tax net

Ihesiulo Grace 1 July 2020 0

President of the Senate, Ahmad Lawan, on Tuesday, tasked the Federal Inland Revenue Service (FIRS) to consider widening the tax net rather than overburden the people and business concerns. Lawan was the Guest Speaker at the inauguration of the Inter-Ministerial Committee on the Audit and Recovery of back years Stamp Duties and FIRS’ formal launching […]

News Opinion

Nami and new spirit of teamwork at FIRS

Ihesiulo Grace 23 June 2020 0

In the 21st century, rating effective leadership is now based on leaders’ possession of ‘soft skills’. Leadership today is no longer rated by intimidating or swaying charisma like that of Adolf Hitler. Soft skills, according to Joana Marques in ‘Leadership Today’ include purpose, morality, values, vision, authenticity, empathy and emotional intelligence, spirituality, and

Business

NCC, FIRS sign MOU to ascertain tax transactions of telcos

Ihesiulo Grace 11 June 2020 0

Consistent with its inter-agency  collaboration policy, the Nigerian Communications Commission (NCC), has signed a Memorandum of Understanding (MoU) with the Federal Inland Revenue Service (FIRS) to enable the tax agency to verify the completeness and accuracy of Value Added Tax) elements and other taxes payable in the transactions of telecom

Business

FIRS clarifies VAT charges on ATM transactions, WhatsApp

Ihesiulo Grace 3 June 2020 0

.As FG slashes revenue projections for relevant agencies The Federal Inland Revenue Service has clarified on the recent announcement regarding charges on Automated Teller Machine (ATM) transactions as well as WhatsApp messages. Speaking to Daily Times, the Director  Communications department of the FIRS, Abdullahi Ismaila Ahmad said details of the planned charges are

Economy

Nigerians to pay 50 naira stamp duty on electronic receipts

Ihesiulo Grace 30 May 2020 0

Nigerians will now pay stamp duties on all forms of electronic notifications acknowledging receipts of funds. This includes SMS and messages on any electronic platform such as emails and Whatsapp messages. This is according to a circular that was signed by FIRS’ Executive Chairman, Muhammad Nami, as seen on the tax agency’s website. Part of […]

Business

Mixed reactions trail FIRS memo to telcos, financial institutions, others

Ihesiulo Grace 27 April 2020 0

Mixed reactions have trailed the statement released by the Federal Inland Revenue Service (FIRS) and addressed to essential service providers on payment of taxes during the COVID-19 lockdown In a personally signed press release, Executive Chairman of FIRS, Muhammad Nami acknowledged the difficulties being faced by businesses as the COVID-19 pandemic ravages on.

Business

FIRS increases revenue collection by 15% to N1.2trn in Q1 2020

Ihesiulo Grace 17 April 2020 0

The Federal Inland Revenue Service (FIRS) has increased revenue collection by 15 per cent to the total sum of N1.2 trillion for the first quarter of 2020, as against  N1.04 trillion reported in the corresponding period of 2019. This was contained in a statement by the Director, Communications and Liaison Department, FIRS, Abdullahi Ismaila Ahmad and made […]

Business

Nami describes FIRS as ‘failed institution’ under previous administration

Ihesiulo Grace 14 April 2020 0

The Federal Inland Revenue Service (FIRS), virtually collapsed under its previous management, its new chief has said. Muhammad Nami, who assumed office as chairman last December, said he had to “build the entire structure of the service again from scratch. “This is not the first time Mr Nami is criticizing the administration of his predecessor, […]

Business

Covid-19: FIRS rolls out palliative measures for taxpayers

Ihesiulo Grace 7 April 2020 0

The Federal Inland Revenue Service says it is rolling out palliatives to cushion the effects of COVID-19 on Nigeria’s taxpayers. FIRS chairman, Muhammad Nami in a statement said that following the Federal Government’s lockdown of FCT, Lagos, and the Ogun States on 29th March 2020 as one of the measures to contain the spread of […]

News

Group lauds FIRS for 10.4% increase in revenue intake amidst Covid -19

Ihesiulo Grace 6 April 2020 0

As the COVID-19 19 pandemic continues to affect the global economy, the Federal Inland Revenue Service (FIRS) has received accolade for surpassing target revenue for the first quarter of 2020. The Buhari Media Organisation (BMO) on Subday commended FIRS Chairman,  Muhammad Nami and its management team for recording  10.4 per cent increase in its collection […]

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FIRS increases tax revenue by 7% to N1.1trn in Q1

Ihesiulo Grace 3 April 2020 0

Despite the crumbling of the global economy due to Coronavirus pandemic, especially the sharp fall in the prices of crude oil, the Federal Inland Revenue Service (FIRS) has recorded an increase of 7.3 per cent revenue collection target for the First Quarter (Q1) of 2020, compared to the corresponding period of 2019. The spokesperson of […]

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Shake up in FIRS as board appoints new directors, retires others

Ihesiulo Grace 26 March 2020 0

The Board of Federal Inland Revenue Service (FIRS) has approved the appointment of four Coordinating Directors (CD) and two Group Leads (GL) in acting capacity and retired some directors. Mr. Abdullahi Ismaila, Director, Communications and Liaison Department of the service, made this known in a statement in Abuja on Wednesday. Ismaila said the appointment was […]

News

Breaking: FIRS sacks, appoints directors

Ihesiulo Grace 25 March 2020 0

Directors of the Federal Inland Revenue Service that have served eights years and above as directors in the service have been relieved of their appointments The decision according to a memo dated March 24, 2020, titled: “Notification,” and signed by the FIRS Executive Chairman, Muhammad Nami, was taken at the emergency meeting of the Board […]

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FIRS collects N338.1bn revenue in January

Ihesiulo Grace 23 March 2020 0

The Federal Inland Revenue Service (FIRS) has collected the sum of N338.1 billion revenue for January 2020 as a against N620.2 billion tax target for the month. According to an FIRS document obtained by the News Agency of Nigeria (NAN) in Abuja on Sunday, the figure represents the aggregate collection by states’ coordinating units on […]

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FIRS collects N338.1bn revenue in January

Ihesiulo Grace 22 March 2020 0

Abuja – The Federal Inland Revenue Service  (FIRS ) has collected the sum of N338.1 billion revenue for January 2020 as a against N620.2 billion tax target for the month. According to an FIRS document obtained in Abuja on Sunday, he figure represents the aggregate collection by states’ coordinating units on monthly basis. The new […]

Business

FIRS moves to block PAYE tax leakages in MDAs, others

Ihesiulo Grace 6 March 2020 0

The Federal Inland Revenue Service (FIRS) is working closely with Ministries, Departments and Agencies (MDAs) to increase the rate of compliance with the remittance of Pay-As-You-Earn (PAYE) tax and block loopholes being exploited by the MDAs to pay lesser tax than they should pay under the Progressive Tax System which Nigeria operates. Chairman, FIRS, Mr […]