Tag: Tax

Union Bank Explains N12.1b Profit Before Tax
July 30, 2019 No Responses

Union Bank Explains N12.1b Profit Before Tax

Union Bank of Nigeria (UBN) Plc has  declared  profit before tax of N12.1 billion for the half year ended June 30, 2019. The profit represented a growth of four per cent when compared with N11.7 billion achieved in the comparative...
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2018 Q4: Nigeria Generates N298b From VAT
February 23, 2019 No Responses

2018 Q4: Nigeria Generates N298b From VAT

For the fourth quarter, 2018, Nigeria generated N298.01 billion from Value Added Tax (VAT).  The National Bureau of Statistics ( NBS ) gave the update on its website  in  a Sectoral Distribution of VAT report for the fourth quarter, 2018....
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FIRS Boss At MAN Interactive Forum, Secures Unpaid N23b From Firms
February 22, 2019 No Responses

FIRS Boss At MAN Interactive Forum, Secures Unpaid N23b From Firms

The Federal Inland Revenue Service (FIRS) has generated over N23billion in unpaid taxes from the suspended substitution exercise on corporate bank accounts, marked by the imposition of restriction on the accounts of tax-defaulting organisations. FIRS Chairman,...
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Nigeria’s Taxpayers Database Hits 35m
December 31, 2018 No Responses

Nigeria’s Taxpayers Database Hits 35m

The taxpayers’ data base has expanded from 20 million to 35 million, the Joint Tax Board (JTB) has said through its Executive Secretary, Oseni Elamah. Elamah said the development was achieved as a result of the ongoing database consolidation of...
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Brazil Approves Tax Holiday For Ford, Others
November 12, 2018 No Responses

Brazil Approves Tax Holiday For Ford, Others

 Brazil‘s President Michel Temer has signed into law hundreds of millions of dollars in incentives for automakers such as General Motors Company  and Volkswagen to produce locally and continue developing engines that run on both gasoline and ethanol. ...
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Oando: Court Orders Wale Tinubu’s Firms to Pay Volpi $680 Million
July 16, 2018 No Responses

Oando: Court Orders Wale Tinubu’s Firms to Pay Volpi $680 Million

The London Court of International Arbitration (LCIA) has issued an award against two companies owned by the Chief Executive Officer of Oando Plc, Mr. Wale Tinubu and his deputy, Mr. Mofe Boyo to pay a total debt of US$680 million...
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Nigeria Reconstitutes Tax Appeal Tribunals
July 13, 2018 No Responses

Nigeria Reconstitutes Tax Appeal Tribunals

The Federal Government has reconstituted the Tax Appeal Tribunals in the six geo-political zones as well as Lagos and Federal Capital Territory.   The reconstitution of the Tribunals is in accordance with Section 2(1) of the Fifth Schedule of the...
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FG Insists Tax Evaders Risk Prosecution, Seizure of Properties
April 1, 2018 one Response

FG Insists Tax Evaders Risk Prosecution, Seizure of Properties

The Minister of Finance, Mrs. Kemi Adeosun, on Saturday confirmed that the Federal Government was currently reviewing the requests by the States and Private Sector for an extension of the tax amnesty programme, the Voluntary Assets and Income Declaration Schem...
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Tax: FG Probes 130,000 Firms, Individuals
March 7, 2018 No Responses

Tax: FG Probes 130,000 Firms, Individuals

The data mining efforts of the Federal Government through the Federal Ministry of Finance has identified a new batch of over 130,000 high net worth individuals and companies that have potential tax underpayments.   The Minister of Finance, Mrs. Kemi...
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Adeosun: FG to name, shame, prosecute tax evaders from March 31
March 2, 2018 No Responses

Adeosun: FG to name, shame, prosecute tax evaders from March 31

The Federal Government is ready to prosecute, name and shame tax evaders that fail to utilise the tax amnesty programme, the Voluntary Assets and Income Declaration Scheme (VAIDS), to regularise their tax profiles, the Honourable Minister of Finance, Mrs. Kemi...
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VAIDS: El-Rufai, Adeosun meet Kaduna business leaders, tax payers
February 26, 2018 No Responses

VAIDS: El-Rufai, Adeosun meet Kaduna business leaders, tax payers

Executive Governor of Kaduna State, Mallam Nasir el-Rufai and the Honourable Minister of Finance, Mrs. Kemi Adeosun, will on Thursday, March 1, meet with business leaders, business owners and tax payers in Kaduna over the Voluntary Assets and Income Declaratio...
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Nigerians who own property in UK panic over new law
February 12, 2018 No Responses

Nigerians who own property in UK panic over new law

Nigerians, who own properties in the United Kingdom, have inundated the Federal Ministry of Finance’s Voluntary Assets and Income Declaration Scheme (VAIDS) hotlines with calls, causing the lines to crash on Friday.  A source at the VAIDs office, told the.....
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FG revokes residence permit of expatriate staff of six firms
November 16, 2017 No Responses

FG revokes residence permit of expatriate staff of six firms

The Federal Government, through the Nigeria Immigration Service (NIS), has revoked the residence permit of expatriate staff of six companies operating in the country.  The Comptroller-General of the NIS, Mr Muhammad Babandede, announced this in Abuja on Wedn...
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Lagos to shut headquarters of banks, others November 20
November 13, 2017 No Responses

Lagos to shut headquarters of banks, others November 20

The Lagos State Government on Sunday said it would begin to shut the corporate headquarters of organisations that had defaulted in remitting statutory taxes to the government from November 20, 2017.  The Commissioner for Finance, Mr Akinyemi Ashade, who made....
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