The Nigerian Government has stopped revenue-generating agencies from deducting portions of the funds they collect as the cost of collection,…
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A coalition of 52 civil society organizations (CSOs) has called for an immediate investigation into the Minister of the Federal…
The Federal Inland Revenue Service (FIRS) has clarified that Nigerians will not be required to obtain a separate Tax Identification…
The Federal Government has ended Value Added Tax (VAT) and duty exemptions for airlines. This means that from January 1,…
President Bola Ahmed Tinubu has signed the much-anticipated Tax Reform Bills into law, ushering in sweeping changes aimed at restructuring…
The Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji has stated that the tax reforms being executed by the Federal government will not introduce new taxes or increase the tax rate for existing ones.
The Federal Inland Revenue Service (FIRS) says the number of new taxpayers in Nigeria has increased by 170,000 and tax compliance also improved by 20 per cent over a year.
“The key changes introduced are to address the identified challenges and specifically include the exemption of small businesses from withholding tax compliance; reduced rates for businesses with low margins; exemptions for manufacturers and producers such as farmers; measures to curb evasion and minimise tax avoidance and the ease of obtaining credit and utilisation of tax deducted at source.”
A Federal High Court in Abuja on Friday, discharged the executive of Binance Holdings Limited, Tigran Gambaryan, and his fleeing colleague, Nadeem Anjarwalla, from the alleged tax evasion charge preferred against the company by the Federal Inland Revenue Service (FIRS).
The new approvals brought the number of companies benefitting from the 3-year tax holiday to 104 at the end of Q1, 2024.