FIRS Archives — City Business News

January 16, 2025 No Responses

NASS Raises FIRS 2025 Revenue Target To ₦25tri

The National Assembly has raised the revenue target for the Federal Inland Revenue Service (FIRS) following revelations by Executive Chairman, Zacch Adedeji, that it had surpassed its 2024 revenue collection target, exceeding the ₦19.4 trillion target set in the 2024 Appropriation...

November 9, 2024 No Responses

NLNG Bags FIRS’ Most Compliant Taxpayer Award

Nigeria LNG has received the prestigious award of Most Compliant Taxpayer by the Federal Inland Revenue Service (FIRS) at the 2024 FIRS Day, which took place during the Lagos International Trade Fair.This recognition is part of the FIRS Compliant Taxpayer...

October 3, 2024 No Responses

NPA Raises One Stop-Shop For Sale Of Crude In Naira To Dangote Refinery

The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, on Thursday, disclosed that the implementation of the Federal Government directive on sale of crude oil and Petroleum products to Dangote Refinery in Naira has commenced.Speaking whe...

April 3, 2024 No Responses

FIRS Apologises To Christians

The Federal Inland Revenue Service (FIRS) has apologised to Christians over its controversial Easter message which has stirred controversy. In its Easter message to Christians in Nigeria, the FIRS had shared a flier showing a Point of Sale (PoS) machine....

February 7, 2024 No Responses

Ministers, CBN, FIRS Pledge To Address High Cost Of Living

The Minister of Finance, Mr Wale Edun, and the Minister of Budget and National Planning, Atiku Bagudu, have assured Nigerians that the high cost of living being witnessed by Nigerians is currently being addressed. Mr Olayemi Cardoso, the Governor of...

January 25, 2024 No Responses

FIRS Targets N19tri In 2024, Attains N12tri In 2023

For the year 2023, the Federal Inland Revenue Service (FIRS), collected N12.374 trillion as tax revenue, surpassing the year’s target of N10.7 trillion. The Chairman of FIRS, Zacch Adedeji disclosed this at the opening of a two-day strategic management ...

November 22, 2023 No Responses

FG To Shipping Firms: Reconcile Tax Books With FIRS Before Dec 31

The Nigerian Government has directed all international shipping companies operating in the country to reconcile their books with the Federal Inland Revenue Service (FIRS) before December 31, 2023. Chairman of the Federal Inland Revenue Service, Zacch Adedeji w...

September 15, 2023 No Responses

Tinubu Appoints Adedeji FIRS Chairman

President Bola Tinubu has approved the appointment of Zaccheus Adedeji, as the new Acting Executive Chairman of the Federal Inland Revenue Service. This announcement coincides with the impending commencement of terminal leave for the former chairman, Muhammed ...

August 10, 2023 No Responses

Committee Projects FIRS As Sole Revenue Collection Agency For FG

Barring last-minute adjustment, a proposal by the Presidential Committee on Tax Policy and Fiscal Reforms may stop about 63 Ministries, Department and Agencies (MDA) from collecting revenue on behalf of the Federal Government. Some of the agencies are the Nige...

July 21, 2023 No Responses

FIRS Rakes In N5.5Trillion In Six Months

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. A statement issued by Johannes Oluwatobi Wojuola, Special Assistant to the Executive Chai...

June 22, 2023 No Responses

FIRS Partners Market Traders Association On VAT Remittance From Informal Sector

The Federal Inland Revenue Service (FIRS) has partnered Market Traders Association of Nigeria (MATAN) as part of measures to collect and remit Value Added Tax (VAT) to the FIRS from markets, especially in the informal sector. The Association which ...

June 8, 2023 No Responses

FIRS, LIRS, Seal MoU On Joint Tax Audit, Investigation

The Lagos Internal Revenue Service (LIRS) and the Federal Inland Revenue Service (FIRS) have issued a public notice on the Memorandum of Understanding (MoU) signed by both agencies to establish a Joint FIRS and LIRS Audit and Investigation Team aimed...

March 18, 2023 No Responses

FIRS, UK Sign Capacity Building MoU

Nigeria’s Federal Inland Revenue Service (FIRS) has signed a Memorandum of Understanding (MoU) with the United Kingdom’s His Royal Majesty’s Revenue and Customs (HMRC) aimed at fostering improved collaboration on capacity building between the two tax aut...

February 7, 2023 No Responses

LIRS, FIRS Seal Tax Audit Pact

The Lagos State Internal Revenue Service (LIRS) and Federal Inland Revenue Service (FIRS) on Monday, February 6, 2023, signed a Memorandum of Understanding on the exchange of information and implementation of joint tax audit and investigation exercise. ...