Tax Archives — Page 5 of 7 — City Business News

April 3, 2021 No Responses

WTO To Work With Europeans On Legality Of EU Carbon Tax Plan

World Trade Organization will work with a number of European countries to ensure a proposed EU carbon tax will respect international trade rules.French Finance Minister, Bruno Le Maire and the WTO’s new leader, Ngozi Okonjo-Iweala told a press conference in Geneva that they would...

March 23, 2021 No Responses

Lagos Gives Tax Evaders March 31 Deadline

The Lagos Internal Revenue Service (LIRS) has warned tax evaders in the state, saying that the Service would wield the stick on defaulters who insist on shortchanging the State Government. Mr Seyi Alade , Director, Legal Services, LIRS, gave the...

January 12, 2021 No Responses

FIRS Creates 35 Tax Audit Units

The Federal Inland Revenue Service (FIRS) has created 35 additional Tax Audit Units across the country to address illicit financial flow. Mr Abdullahi Ahmad, Director, Communications and Liaison Department of the service, made this known in a statement i...

December 5, 2020 No Responses

FIRS Generates N4.17tri In Ten Months

Between January and October, 2020, the Federal Inland Revenue Service (FIRS) generated a total of N4.17trillion. Chairman, FIRS, Muhammad Nami, represented by Mr Ezra Zubairu, Coordinating Director, Enforcement Support Group, ...

November 27, 2020 No Responses

FG Generates N416.01b As Company Income Tax In Q3

The Federal Government generated N416.01 billion as Company Income Tax (CIT) in the third quarter of 2020. According to the National Bureau of Statistics (NBS) in its “Company Income Tax by Sectors 2015 – Quarter Three (Q3 2020)’’, the amoun...

September 3, 2020 No Responses

GTBank Declares 30k Interim Dividend

Guaranty Trust Bank Plc on Wednesday announced an interim dividend of 30k per share for the half year ended June 30, 2020. The bank stated this in its audited financial results released to the Nigerian Stock Exchange and London Stock...

July 24, 2020 No Responses

NLC Condemns 6% Stamp Duty On Tenancy, Lease Agreements

The Nigeria Labour Congress (NLC) on Friday condemned six per cent stamp duty fee introduced by the Federal Inland Revenue Service (FIRS) for every tenancy and lease agreement in Nigeria. NLC President, Comrade Ayuba Wabba, in a statement on...

July 21, 2020 No Responses

FIRS Clarifies Stamp Duty Rates

The Federal Inland Revenue Service (FIRS) has published detailed information to guide taxpayers and the general public on rates payable as stamp duty. Director Communications and Liaison Department of the FIRS, in a statement on Tuesday said the clarification ...

July 1, 2020 No Responses

FIRS Generates N66b From Stamp Duty In Five Months

Between January and May, this year, the Federal Inland Revenue Service (FIRS) generated the sum of N66 billion from stamp duty. In a statement on Tuesday, Abdullahi Ahmad, the FIRS Director, Communications and Liaison Department explained that the Executive Ch...

May 27, 2020 No Responses

Lagos Further Extends Deadline For Filing Annual Tax Returns To June 30

The Lagos State Government, through its Internal Revenue Service (LIRS), has further extended the deadline for filing of Annual Tax Returns to June 30, 2020. The Executive Chairman of LIRS, Mr Ayodele Subair, said in a statement on Tuesday that...

March 4, 2020 No Responses

FIRS Targets N4trillion Tax From Oil, Gas

The Federal Inland Revenue Service (FIRS) said it would rake in four trillion naira as tax revenue from the extractive sector of the Nigerian economy in the 2020 fiscal year. The FIRS made this known in a statement issued by ...

February 14, 2020 No Responses

Nigeria loses N1.3tri To Tax Waivers

Nigeria lost 1.3trillion naira to granting of tax waivers to companies operating in three sectors of the economy in the last five years, the Federal Inland Revenue Services (FIRS) has said. Chairman of FIRS, Mr Muhammad Nami, made the disclosure...

October 18, 2019 No Responses

Nigeria To Impose Taxes On Soft Drinks

The Nigerian Government is to impose taxes on soft drinks, the Minister of Finance, Budget and Planning, Mrs. Zainab Ahmed, disclosed on Thursday. In an interactive session with Journalists on the sidelines of the ongoing Annual Meetings of the International.....

August 10, 2019 No Responses

Presidential Panel Partners FIRS On Recovery Of Tax Revenues

The Special Presidential Investigation Panel for the Recovery of Public Property (SPIP) is to partner Federal Inland Revenue Service (FIRS), to recover tax revenues from companies who hitherto have been evading payment. Ms Lucie-Ann Laha, the panel spokesperso...