THE Federal Inland Revenue Service (FIRS) has responded to queries by the Special Adhoc Committee on Petroleum Subsidy Regime tasked to investigate petroleum products subsidy in Nigeria, that its role is purely the collection of revenue for government and not keeping records of how the monies are expended. Speaking at …
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WE are living in interesting times in Nigeria. Issues of public discourse never cease to amaze one in this country. When you think that you have seen and heard it all, something risible would just pop up like a bolt out of the blues to add to the dramatic turn …
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The Federal Inland Revenue Service (FIRS) zonal coordinator for Kebbi, Sokoto and Zamfara States Alhaji Mohammed Kudu Mawa, has been killed by suspected bandits. In the late hours of Sunday, August 7, 2022, the accountant was reportedly shot dead along Lapai-Lambata road, Niger State by bandits He was said to …
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Nigeria’s biggest network provider, MTN Nigeria has reversed itself on the claims that it remitted N757.5bn to the Federal Government in 2021. The company said last week that the actual amount paid to the tax authority- the Federal Inland Revenue Service in 2021 was N291.67bn. “Without prejudice but specific to …
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Upon the effluxion of the amnesty provided by the Voluntary Assets and Income Declaration Scheme (VAIDS) set up by the Federal Government of Nigeria through the Federal Ministry of Finance, the Joint Tax Board (JTB) in collaboration with the Federal Inland Revenue Service (FIRS) would immediately commence a “full scale …
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THE filing of Companies Income Tax Returns for the 2022 Year of Assessment, due on 30th June 2022, has been extended to 31st August 2022, for companies who were unable to meet up with the deadline as at the end of June, 2022. The extension of this deadline is contained …
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Accuses States of being ill-advised, beggarly and lazy The powers of the Federal Inland Revenue Service, (FIRS) to recover unremitted taxes deducted by States and Local Governments is well in order, and accords with the country’s fiscal laws. This position was stated by the Global Economic Policy Initiative (GEPiN), an …
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Leadership Newspaper’s MARK ITSIBOR writes on the need for Nigeria to improve its revenue by harmonising the current tax systems. Nigeria has three tax revenue objectives: to develop our economy that does not lean too heavily on resource wealth; institutionalise a healthy tax culture among Nigerians; and create a participatory …
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The Federal Inland Revenue Service (FIRS) has stated that it will embark on a nationwide value-added tax (VAT) and withholding tax (WHT) compliance monitoring exercise for all taxable persons from July 1. This was stated on Thursday by Muhammad Nami, executive chairman, FIRS in a circular published on its Twitter page. Withholding …
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FIRS, The New Number One Cash Cow By Mahmud Jega There has been a silent change of baton at the cash inflow pipeline into the Federation Account, the proverbial national cake. For decades the Nigeria National Petroleum Corporation [NNPC] held sway as the top national cash cow. Since last year, …
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