Tax & Financial Services in Nigeria

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THE International Monetary Fund (IMF) has said that Nigeria and other countries outside the Organisation for Economic Co-operation and Development (OECD) group lostabout $200 billion annually due to unfair global corporate ta...

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The Federal Inland Revenue Service (FIRS) yesterday explained that the Value Added Tax (VAT) is a consumption tax primarily designed to support poor people, and not to create hardship for them. It’s Executive Chairman, Babatu...

A member of the OPS has warned that more manufacturers might be in the process of shutting down, if government fails to address the problem of multiple taxation, poor infrastructure and the proposed increase in value added ta...

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Introduction In August 2018, taxpayers were awakened to sudden freezing of their bank accounts for alleged non-payment of taxes and this marked the beginning of an "account- freezing" operation by the Federal Inland Revenue S...

The Society of Women Accountants of Nigeria (SWAN) Kwara Chapter, on Tuesday pledged the commitment of the association to continue stimulating the desire of young Nigerian females in Accountancy profession. Dr Khadijat Yahaya...

The International Monetary Fund says the Nigerian economy is recovering with increased Gross Domestic Product (GDP) in 2018 and falling inflation at the end of 2018. The Executive Board of the IMF stated this in its report at...

The assets of all public officials and senior political office holders will soon be open for public knowledge and scrutiny, says Director, Nigerian Financial Intelligence Unit (NFIU), Modibbo Hamman-Tukur. Mr Hamman-Tukur dis...

The Federal Government, through the Federal Inland Revenue Service, plans to generate N4.3tn from petroleum profit tax and N1.7tn through the Value Added Tax in 2019, The amount is part of the N8.8tn tax revenue needed by the...

As federal government continues to contemplate ways to cover its increasing recurrent expenditure, the effect of tax burden on the citizens must be considered, writes Obinna Chima. The federal government recently gauged the w...

A tax expert, Taiwo Oyedele, has urged the Federal Government to review its Value Added Tax (VAT) law and better policing of its borders to improve its VAT collections. Oyedele, Head of Tax and Corporate Advisory Services, Pr...

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The Court of Appeal, Lagos Division, on Friday, set aside a judgment of the Federal High Court in Lagos which exempted the Nigerian Liquefied Natural Gas Limited from levies payable to the Nigerian Maritime Administration and...

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The Katsina State Government said it would tax borehole owners and operators in the state as part of measures aimed at generating revenue for the state and also to address indiscriminate drilling of borehole by several privat...

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Mr Bharat Vora, a Plaintiff, on Monday prayed a Federal High Court in Abuja to award him N2 billion against the Federal Inland Revenue Service (FIRS) for shutting his business. Vora, the Managing Director of Mutunci Company N...

Mr Bharat Vora, a Plaintiff, on Monday prayed a Federal High Court in Abuja to award him N2 billion against the Federal Inland Revenue Service (FIRS) for shutting his business. Vora, the Managing Director of Mutunci Company N...