LIRS Meets FMCG, Gaming and Multi-level Marketing Sector on Deduction of Withholding Tax on Commission
Tag: Tax
FG Grants Three-Year Tax Relief To 33 Companies, Bars 10 Firms
The Federal Government approved the application of 33 companies seeking pioneer status under the Industrial Development Income Tax Act in 2021.
Bringing Informal Sector To Tax Net Will Address Budget Deficit — FIRS Chairman
The Chairman of the Federal Inland Revenue Service, Mr Muhammad Nami, has said bringing the informal sector to the tax net would address the country’s budget deficit and increase revenue.
$2bn Tax: Court Strikes Out Suit As AGF Withdraws Demand From MTN
The Federal High Court in Lagos on Thursday struck out a N3bn rights enforcement suit filed by telecommunications firm, MTN Nigeria Communications Limited, against the Attorney General of the Federation, Abubakar Malami, SAN.
FIRS Realises N4.03tn From Tax In 2017
Over N4.03 trillion was collected as revenue in 2017 as the Federal Inland Revenue Service (FIRS) recorded 82.38 percent success in its projected income of N4.89 trillion for the year. However, the revenue is N720 billion more than the 2016 total collection figure of N3.3 trillion. Details of sectorial contributions showed that taxes from non-oil […]
Tax Year End: Is Your Business Pay-As-You-Earn (PAYE) Compliant And Ready For The New Tax Year?
Tax Year End: Is Your Business Pay-As-You-Earn (PAYE) Compliant And Ready For The New Tax Year? The Ghana Revenue Authority has embarked on an education drive to lift tax-to-GDP which currently stands at 16.5% West African governments are clamping down on non-compliance among business and individual taxpayers as they strive to improve their low […]
‘Age-Long Mindset That Akute Means Death Of Businesses Is False’
Oluwashola Andrey Jesuseitan is an entrepreneur, business coach and Chief Responsibility Officer of Petdavella Group. Over the years his organisation has provided trainings and seminars to give stability to businesses in Akute, Ogun State via seminars and counseling. In this interview, he told DAYO EMMANUEL what his organisation has done in the past years. His […]
Driving Automation Among Small Businesses Can Help Nigeria’s Tax Goals
The IMF has warned that Nigerian governments’ ability to effectively finance infrastructure and services is constrained by low tax collection Comments from the International Monetary Fund (IMF) (http://APO.af/e3xusi) around Nigeria’s low tax-to-GDP ratio highlight the importance of driving higher levels of payroll and accounting automation among the country’s businesses, especially small, micro and medium-sized enterprises, […]
Finally, FG to Tax First, Business Class Tickets
Finance Minister, Mrs. Kemi Adeosun, said Thursday that the federal government would begin to tax first and business class flight tickets in line with the new tax drive aimed at boosting revenue. The move is coming almost three years after the previous administration rolled out the initiative among a cocktail of measures to boost revenue […]
Expectedly, Lagos Tops IGR List as 35 States Pool N801.95bn in 2016
Lagos State topped the list of states with the highest internally generated revenue (IGR) in 2016 as the National Bureau of Statistics (NBS) released the figures at state level between January and December last year. Lagos State recorded the highest figure of N302.42 billion in full year 2016, closely followed by Rivers State with N85.29 […]