Tag: Tax

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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Crash Figures: Expert faults FRSC, tasks financial institutions, religious leaders
October 4, 2017 No Responses

Crash Figures: Expert faults FRSC, tasks financial institutions, religious leaders

By citybusinessnews@yahoo.com –    About 100 persons lose their lives as a result of road traffic crashes on Nigerian roads, which brings the total to over 36,000 deaths every year, prominent road safety advocate, Adenusi Patrick has said.   This...
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PwC tax academy hosts 200 business executives, reviews LIRS reforms
September 29, 2017 No Responses

PwC tax academy hosts 200 business executives, reviews LIRS reforms

Over 200 business executives including a live online audience within and outside Nigeria are scheduled to attend PwC tax academy scheduled to hold on Friday, September 29, 2017 in Lagos State.   City BusinessNews Online (www.citybusinessnews.com) gathered th...
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FG to publish names of tax defaulters
June 30, 2017 No Responses

FG to publish names of tax defaulters

The Federal Government is to publish names of tax defaulters with effect from March 31, 2018.    Speaking in Abuja on Thursday during the unveiling of Voluntary Assets and Income Declaration Scheme (VAIDS), Acting President, Yemi Osinbajo explained that VAID...
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Dangote Flour unveils new pasta, declares N11.82b profit after tax for 2016
May 22, 2017 No Responses

Dangote Flour unveils new pasta, declares N11.82b profit after tax for 2016

For the year ended December 31, 2016, Dangote Flour Mills Plc has declared profit before tax of N11.82billion  The Chairman of Dangote Flour Mills, Asue Ighodalo, while addressing shareholders at the 11th Annual General Meeting in Lagos said “Despite the...
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FIRS targets N5.2b from new taxpayers
September 23, 2016 No Responses

FIRS targets N5.2b from new taxpayers

The Federal Inland Revenue Service (FIRS) is to generate not less than N5.2 Billion from 10 million new taxpayers in 2017.  According to the Executive Chairman of FIRS, Babatunde Fowler, about 700,000 firms that have never paid taxes are to...
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