Tax Archives — Page 3 of 7 — City Business News

November 1, 2022 No Responses

Reps Panel Accuses Oil Firms Of Tax Evasion

The House of Representatives ad hoc committee investigating the structure and accountability of the Joint Venture (JV) businesses and production sharing contracts (PSCS) of the Nigerian Petroleum Corporation (NNPC) has accused oil companies of tax evasion. The Chairman of the...

September 3, 2022 No Responses

Nissan To Leverage US Tax Credit On Electric Vehicles

Nissan will more aggressively push electric vehicles to take advantage of a new US law that gives up to $7,500 in tax credits, the Japanese automaker said on Friday. President Joe Biden signed the landmark climate change and health care bill into...

August 22, 2022 No Responses

SEC Seeks Tax Exemption On Corporate Bonds

The Securities and Exchange Commission (SEC) has urged the federal government to consider its proposal to exempt corporate bonds from the payment of tax. Speaking in Lagos at an interactive session with Journalists on the outcome of the second...

August 22, 2022 No Responses

NLNG Receives Road Infrastructure Tax Credit Certificate For Bonny – Bodo Road From FIRS

The Nigeria Liquefied Natural Gas Limited (NLNG), one of the companies undertaking the construction of roads under the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, has received its Tax Credit Certificate from the Federal Inla...

July 28, 2022 No Responses

NEPZA, FIRS Agree To Adjust FTZs New Tax Administration Pact

The Nigeria Export Processing Zones Authority (NEPZA) and the Federal Inland Revenue Service (FIRS) have agreed to adjust some sections of the recently signed Memorandum of Understanding (MoU) on effective tax administration, to accommodate some salient concer...

July 7, 2022 No Responses

Tax Development: FIRS Boss Harps On Collaboration Among Regulatory Bodies

The Federal Inland Revenue Service (FIRS) has described collaboration among regulatory bodies as critical in deepening FIRS institutional framework through qualitative reporting and effective representation of their clients. Mr Muhammad Nami, the Executive C...

July 5, 2022 No Responses

Income Tax Returns: FIRS Extends Due Date For Companies

The filing of Companies Income Tax Returns for the 2022 Year of Assessment, due on 30th June 2022, has been extended to 31st August 2022, for companies who were unable to meet up with the deadline as at the end...

June 11, 2022 No Responses

FIRS Embarks On Nationwide Tax Compliance Campaign

The Federal Inland Revenue Service (FIRS) is to embark on a compliance exercise from July, 2022 on Value Added Tax (VAT) and Withholding Tax (WHT). The announcement is contained in a public notice signed by the FIRS Executive Chairman, Muhammad...

June 8, 2022 No Responses

NEPZA, FIRS Sign MoU On Effective Tax Administration In Free Trade Zones

The Nigeria Export Processing Zones Authority (NEPZA) has signed a Memorandum of Understanding (MoU) with Federal Inland Revenue Service (FIRS) for effective administration of taxes in the free trade zones. Signing the MoU on Tuesday in Abuja, the Execut...

May 30, 2022 No Responses

2021: TAJBank Reports 433 Per Cent Increase In PBT

TAJBank Limited, the second non-interest bank, recorded more milestones in its second year of operations with its profit before tax (PBT) surging to N1.6 billion in FY2021, representing 433% improvement over the preceding year’s profit. This is even as...

May 16, 2022 No Responses

NLNG Tops Tax Compliance Firms In Nigeria

The Federal Inland Revenue Service (FIRS), on Monday, listed Nigeria’s top-performing taxpayers in the year 2021 and commended them for their exceptional efforts in contributing towards providing the necessary funds for the government to meet its social cont...

April 28, 2022 No Responses

GTCO Declares N54.3b Profit Before Tax In Q1

Guaranty Trust Holding Company Plc, (GTCO) has released its unaudited financial results for the first quarter of 2022 to the Nigerian Exchange Ltd., (NGX) and London Stock Exchanges, declaring a profit before tax of N54.3 billion. The group, in a...

February 23, 2022 No Responses

Stanbic IBTC Bank Customer Protests Alleged Frozen Of Account

Chief Oluwarotimi Fadoju, a Customer at the Stanbic IBTC Bank, Ring Road branch, Ibadan, Oyo State, on Tuesday created scene inside the banking hall, protesting alleged frozen of his account over Tax Identification Number (TIN) certificate. Fadoju, who c...

December 7, 2021 No Responses

FIRS Urges Comprehensive Revenue Inclusion

Executive Chairman, Federal Inland Revenue Service (FIRS) Muhammad Nami, on Monday in Abuja called for the aggregation of all revenues generated at national and sub-national levels. This, he said, would enable proper determination and accurate computatio...