Business

Tax reforms to ease hardship, lift income for over 90% of workers

DailyTimesNGR DailyTimesNGR 5 May 2025 0

BY TUNDE OPALANA Nigeria’s tax reform bills, currently awaiting Senate approval, are poised to significantly boost disposable income, lower living costs, and protect low-income earners, according to the Presidential Committee on Fiscal Policy and Tax Reforms. Chairman of the Committee, Dr.

News

Tax evasion: FCT-IRS seals Phase3 Telecom, Cilantro restaurant in Maitama

DailyTimesNGR DailyTimesNGR 21 March 2025

By Ukpono Ukpong The Federal Capital Territory Internal Revenue Service (FCT-IRS) has sealed the business premises of Phase3 Telecom and Cilantro Restaurant in Abuja after repeated warnings over unpaid tax obligations. Speaking during the enforcement exercise, the Acting Director of Legal Services and Head of the Enforcement Team, Festus Tsavsar, stated that the affected

Business

97% of informal sector exempted from tax under new reform bill, says Oyedele

DailyTimesNGR DailyTimesNGR 19 February 2025 0

BY MOTOLANI OSENI The chairman of the Presidential Tax Reform Committee, Mr Taiwo Oyedele, has revealed that the proposed tax reform bill will exempt 97 per cent of Nigeria’s informal sector from taxation, stressing that the bill’s passage is imminent. Speaking at the Agusto & Co. 2025 Economic Roundtable in Lagos, Oyedele emphasised the need […]

Headlines

HoR Passes Tax Reforms Bills for second reading

DailyTimesNGR DailyTimesNGR 13 February 2025 0

By Tom Okpe The House of Representatives has passed through second reading the four tax reforms Bills, initiated by President Bola Ahmed Tinubu. The Bills which includes, Nigeria Tax; Nigeria Tax Administration; Nigeria Revenue Service and Joint Revenue Board of Nigeria, Establishment Bills, 2024 we’re read by the Speaker, Rep Tanudeen Abbas, at plenary on […]

Headlines

Tax Reform: Northern Group kicks against VAT hike

DailyTimesNGR DailyTimesNGR 20 January 2025 0

By Samuel Luka Group under the platform of Coalition of Northern Groups (CNG) has opposed the bill that seeks to impose tax on family wealth or inheritance of Nigerians. The National Coordinator of the group, Comrade Aliyu Jamilu Charanchi who disclosed this while addressing a press conference in Bauchi at the weekend commended the Nigerian […]

News

NASS Prioritizing The Politicized Tax Reforms

DailyTimesNGR DailyTimesNGR 15 January 2025 0

By Andrew Oota The National Assembly has reconvene from its end of the year break and top on its agenda are the passages of two major legislations : The 2025 Money Bill and the Tax Reform Bills The Senate and House of Representatives have commenced engaging ministries , parastatals and agencies of Government in the […]

Politics

Tax Reform Bills ‘ll not distract us from passing 2025 budget – NASS

DailyTimesNGR DailyTimesNGR 7 January 2025 0

…says January-December budget circle sacrosanct By Haruna Salami The National Assembly said not even the tax reform bill could distract the parliament from passing the 2025 budget of the federal government on January 31, 2025. This Chairman, Senate Committee on Appropriations, Senators Adeola Olamilekan who disclosed this on Monday at a crucial meeting with chairmen […]

Politics

Southern Caucus lawmakers, welcomes Tinubu’s Tax reform bills

DailyTimesNGR DailyTimesNGR 13 December 2024 0

…says it is open to more dialogue, views from Nigerians By Tom Okpe Southern Caucus of the House of Representatives, said the tax reform bills initiated by President Bola Ahmed Tinubu is a welcome development in the country. Leader of the caucus, Rep Nicholas Mutu however while briefing the media said they are open to […]

News

Tax Reforms Will Reinvigorate Northern Economy – Experts

DailyTimesNGR DailyTimesNGR 9 December 2024 0

**Dispel Rumour of Plot Against Poor States A group of experts from Northern Nigeria have thrown their weight behind the Tax Reform Bills proposed by President Bola Tinubu, saying they will reinvigorate the northern economy. The experts, who spoke as resource persons in a town hall meeting in Abuja organised by 200 civil society organisations, […]

Headlines

Tax Reform Bills: Atiku urges NASS to ensure transparency, objectivity in conducting public hearing

DailyTimesNGR DailyTimesNGR 2 December 2024 0

By Samuel Luka As the tax reform bill of President Bola Ahmed Tinubu generates public discourse, former Vice President and 2019, 2023 People’s Democratic Party (PDP) Presidential candidate, Alhaji Atiku Abubakar has called for objectivity and transparency in conducting public hearing regarding the bill. Alhaji Abubakar who made this known in Facebook post during the

News

Tax reform bills: Afenifere calls for understanding, says it’s not targeted against any region

DailyTimesNGR DailyTimesNGR 17 November 2024 0

BY STEPHEN GBADAMOSI The pan-Yoruba socio-cultural and socio-political organisation, Afenifere, has stated that the tax reform proposed by the Federal Government has a lot of beneficial potentials. In a press statement released by its National Publicity Secretary, Comrade Jare Ajayi, the body submitted that no region in the country should entertain any fear regarding the

News

Appreciating Adedeji’s Efforts On Nigeria’s Tax Landscape

DailyTimesNGR DailyTimesNGR 30 October 2024 0

As President Bola Tinubu’s administration charts a bold course towards economic diversification, one man stands out as a driving force behind Nigeria’s vision for a financially robust future: Dr. Zacch Adedeji, Executive Chairman and CEO of the Federal Inland Revenue Service (FIRS). Since assuming office in September 2023, Adedeji has spearheaded a

News

Tax Reforms: FIRS allays fears, says no introduction of new taxes

DailyTimesNGR DailyTimesNGR 16 October 2024 0

BY TUNDE OPALANA Federal Government tax reformation proposals will not lead to job loss or infect more pains on Nigerians. Chairman of Federal Inland Revenue Service ( FIRS ), Zacch Adedeji, allayed the fears of Nigerians on possible introduction of new taxes through proposed tax reform laws . He assured Nigerians , that the tax […]

Headlines

Tax Reforms: FG mulls changing FIRS to NRS

DailyTimesNGR DailyTimesNGR 4 October 2024 0

…as Tinubu forwards Tax reforms bills to National Assembly By Tunde Opalana The Federal Government is planning far reaching reformation in the nation’s taxation regime, notably is mulling the renaming of Federal Inland Revenue Service ( FIRS ) to Nigeria Revenue Service ( NRS). President Bola Tinubu on Thursday transmitted an executive bill to both […]

Headlines

FG boosts revenue with N4.03trn in tax collections in Q2 2024

DailyTimesNGR DailyTimesNGR 10 September 2024 0

BY TEMITOPE ADEBAYO The Federal Government saw a significant boost in tax revenue, raising N4.03 trillion through Company Income Tax (CIT) and Value Added Tax (VAT) in the second quarter of 2024. This marks a sharp increase compared to the first quarter of the year, highlighting the government’s strengthened tax collection efforts. According to data […]

Headlines

FCT’s 5% tax on private schools will kill business – School owners

DailyTimesNGR DailyTimesNGR 31 March 2024 0

Imposition of 5 per cent annual tax on private schools in the Federal Capital Territory (FCT) would be injurious to business and drive the school owners out of business. The submission was made on Saturday in Abuja by the National Association of Proprietors of Private Schools (NAPPS), reiterating its immediate reaction when the measure was […]

Headlines

Nigeria loses N17trn to tax waivers

DailyTimesNGR DailyTimesNGR 20 February 2024 0

By Tunde Opalana Nigeria lost N17 trillion to tax waivers within the last years, the Federal Inland Revenue Service (FIRS) has revealed. The FIRS made the revelation on Monday during its budget presentation session with the Senate Committee on Finance. Describing the development as unacceptable, the Senate committee ordered FIRS to suspend tax waivers on […]

Money

2023 Annual Tax Returns: Oyo govt insists on Jan’ 31 deadline for employers of labour

DailyTimesNGR DailyTimesNGR 12 January 2024 0

BY STEPHEN GBADAMOSI The Oyo State government has said that January 31, 2024 is the deadline for filing the year 2023 annual tax returns by corporate employers of labour. The government also said individual employers of labour had the 31st of March 2024 as deadline. The annual tax returns require every taxpayer to state the […]

News

Financial experts support government’s proposal to tax wealthy Nigerians

DailyTimesNGR DailyTimesNGR 21 October 2023 0

Financial experts have voiced their support for the Federal Government’s proposal to tax additional wealthy Nigerians, viewing it as a means of income redistribution that can bolster the country’s fiscal revenues. Dr. Muda Yusuf, the Chief Executive Officer of the Center for the Promotion of Private Enterprise (CPPE), welcomed the government’s proposal as

Politics

Abuse of Tax Incentives: HoR to end sabotage, ensure transparency, accountability

Ihesiulo Grace 31 August 2023 0

By Tom Okpe Against allegations and abuse of Tax breaks, the House of Representatives has reiterated its commitment to end sabotage of incentives and ensure transparency and accountability in the country. Speaker of the House, Rep Abbas Tajudeen made this declaration in Abuja on Thursday, while inaugurating, House Ad’hoc Committee on ‘Investigation of