Tag: Tax

Shell To Pay First UK tax In Five Years
January 7, 2023 No Responses

Shell To Pay First UK tax In Five Years

Shell has said it will pay tax in the UK for the first time since 2017 after making huge global profits last year.  The energy firm said it expected to “take a hit” of around $2bn (£1.7bn) on profits in...
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FIRS: Tax Clearance Certificate, Now Available In “One Click”
January 3, 2023 No Responses

FIRS: Tax Clearance Certificate, Now Available In “One Click”

The Federal Inland Revenue Service (FIRS) has announced that taxpayers can now get their Tax Clearance Certificate in a single click via its flagship Taxpro Max solution.  The TaxPro Max, a tax administration solution introduced by the apex tax authority....
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ExxonMobil Sues EU To Block Energy Windfall Tax
December 31, 2022 No Responses

ExxonMobil Sues EU To Block Energy Windfall Tax

US energy giant ExxonMobil is suing the European Union (EU) in a bid to stop its new windfall tax on oil firms.  A windfall tax is imposed on firms that benefited from something they were not responsible for.  Energy firms...
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FCT-IRS Insists On Tax Clearance For Vehicle Registration, Building Approval    
December 15, 2022 No Responses

FCT-IRS Insists On Tax Clearance For Vehicle Registration, Building Approval    

Federal Capital Territory (FCT) residents will henceforth present Tax Clearance Certificate (TCC) to carry out certain transactions, the Acting Chairman, Federal Capital Territory Internal Revenue Service (FCT-IRS), Mr Haruna Abdullahi, has said   Abdulla...
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FIRS Seeks Harmonised Systems Among Tax Administrators 
November 29, 2022 No Responses

FIRS Seeks Harmonised Systems Among Tax Administrators 

The Executive Chairman, Federal Inland Revenue Services (FIRS), Muhammad Nami has appealed for harmonisation of tax systems among member states of Commonwealth Association of Tax Administrators (CATA).  Nami made the appeal on Monday in Abuja at the 42nd ...
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Reps Panel Summons FIRS Chairman Over Alleged Tax Evasion By Oil Companies
November 17, 2022 No Responses

Reps Panel Summons FIRS Chairman Over Alleged Tax Evasion By Oil Companies

The House of Representatives Ad hoc Committee Investigating the Structure and Accountability of Joint Venture (JV) Business and Production Sharing Contracts (PSCS) of Nigerian National Petroleum Corporation (NNPC) Ltd has summoned the Chairman of Federal Inlan...
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Reps Panel Summons Total, Others Over $85b Tax
November 16, 2022 No Responses

Reps Panel Summons Total, Others Over $85b Tax

The House of Representatives ad hoc Committee on structure and accountability of Joint Venture (JV) Business and Production Sharing Contracts (PSCS) of Nigerian National Petroleum Company (NNPC) Ltd. has summoned Total Upstream over tax claims of 85 billion do...
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FIRS Boss: Dialogue Crucial In Strengthening Tax Administration
November 6, 2022 No Responses

FIRS Boss: Dialogue Crucial In Strengthening Tax Administration

Tax dialogue is a tool for engendering tax compliance as well as means of strengthening tax systems, the Executive Chairman, Federal Inland Revenue Service (FIRS), Muhammad Nami, has said.  Nami said this at the 2022 Kaduna State Tax Dialogue, held...
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Reps Panel Accuses Oil Firms Of Tax Evasion
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.&nbs...
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Nissan To Leverage US Tax Credit On Electric Vehicles
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...
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SEC Seeks Tax Exemption On Corporate Bonds
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...
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NLNG Receives Road Infrastructure Tax Credit Certificate For Bonny – Bodo Road From FIRS
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...
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NEPZA, FIRS Agree To Adjust FTZs New Tax Administration Pact 
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...
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Tax Development: FIRS Boss Harps On Collaboration Among Regulatory Bodies
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...
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