Tax – City Business News

December 31, 2025 No Responses

Tinubu: New Tax Laws To Commence Jan 1 As Planned

The new tax laws, including those that took effect on June 26, and others scheduled to commence on January 1, 2026, will be implemented as planned, President Bola Tinubu has declared.The president disclosed this in a statement on Tuesday.Tinubu described...

November 17, 2025 No Responses

Again, FIRS Honours NLNG As Most Compliant Taxpayer

Again, NLNG has been recognised as the Most Compliant Taxpayer in corporate Nigeria by the Federal Inland Revenue Service (FIRS).The award comes under the FIRS Compliant Taxpayer Award and Recognition Programme, an initiative of the Taxpayer Services Departmen...

November 14, 2025 No Responses

Edo-IRS, NFIU Sign Strategic Partnership To Expand Tax Net

The Edo State Internal Revenue Service (EIRS) has announced a major breakthrough in its revenue modernization agenda with the signing of a Memorandum of Understanding (MoU) with the Nigerian Financial Intelligence Unit (NFIU).The agreement, sealed on Friday in...

March 29, 2025 No Responses

GTCO Declares N1.2tri For 2024

For the 2024 financial year, GTCO Plc declared N1.266 trillion, profit before tax, up from N609.3 billion a year earlier. The Group, in its audited financial statement released on the Nigerian Exchange Limited on Friday, also disclosed a profit after...

January 29, 2025 No Responses

IGR: Edo Inland Revenue Service Lauds NNPC

The Executive Chairman, Edo State Internal Revenue Service (EIRS,) Hon. Oladele Bankole-Balogun has commended the leadership of the Nigerian National Petroleum Corporation (NNPC) E&P Limited for their contributions to the Internally Generated Revenue (IGR)...

January 29, 2025 No Responses

FCT-IRS Seeks EFCC’s Collaboration In Tackling Tax Fraud

The Federal Capital Territory Internal Revenue Services (FCT-IRS) has called on the Economic and Financial Crimes Commission, EFCC, to assist it in tackling tax liability of suspects being investigated for any form of economic and financial crime and other act...

January 17, 2025 No Responses

Tinubu Lauds Govs For Supporting Tax Reform Initiatives

President Bola Tinubu has expressed his appreciation for the Nigeria Governors’ Forum following their unanimous endorsement of the four Tax Reform Bills currently under consideration by the National Assembly.President Tinubu lauds the governors for their...

January 16, 2025 No Responses

NPA: NASS Raises 2025 Revenue Target To ₦1.7tri

The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, on Wednesday disclosed that the agency generated N753 billion in 2024. The NPA boss who stated this during a presentation on NPA’s 2024 revenue performance and 2025 projections to ...

January 13, 2025 No Responses

Lagos Sets January 31 Deadline For Annual Tax Returns Filing

The Lagos State Internal Revenue Service (LIRS) has issued a reminder to all employers in Lagos State to fulfill their statutory obligation to file annual tax returns for the 2024 financial year on or before January 31, 2025. City Business...

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 29, 2024 No Responses

Northern Govs Faults Proposed Tax Reform Bill

The Northern Governors Forum has kicked against the proposed Tax Reform Bill that was forwarded to the National Assembly. It stated that the proposed tax bill is against the interests of the North and other sub-nationals. In a communique read...

October 4, 2024 No Responses

Tinubu Submits Tax Reform Bills To NASS

The Senate has received President Bola Tinubu’s communication seeking consideration and passage of the proposed Fiscal Policy and Tax Reform Bill to align with ongoing financial reforms of the Federal Government and enhance efficiency in tax compliance. The ...

May 31, 2024 No Responses

Committee Seeks Exception Of Manufacturers, Farmers From Withholding Tax

As part of measures to reduce tax burden on businesses, the Presidential Committee on Fiscal Policy and Tax Reforms has proposed an exemption of manufacturers and farmers from paying withholding tax. Chairman of the Committee, Taiwo Oyedele di...