Tag Archives: Tax

Nigeria’s journey toward a more efficient, fair, and customer-friendly tax system has taken a giant leap forward with the recent passage of the Tax Reform Bills by the National Assembly.

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Lagos State Governor, Mr. Babajide Sanwo-Olu, and his counterparts from Sokoto and Borno States have emphasised the need to make the country’s tax system more transparent and accountable to Nigerians to boost confidence and voluntary compliance

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LIRS Meets FMCG, Gaming and Multi-level Marketing Sector on Deduction of Withholding Tax on Commission

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The Federal Government approved the application of 33 companies seeking pioneer status under the Industrial Development Income Tax Act in 2021.

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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.

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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.

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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 sources accounted for 63 per …

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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 tax-to-GDP ratios or internally generated …

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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 outfit has been able to …

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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, says Magnus Nmonwu (http://APO.af/j24b88), Regional …

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