Tag Archives: Tax

IN an era marked by swift technological advancements, growing social inequalities, and shifting economic paradigms, tax reform emerges as a pivotal tool for societal transformation. Properly implemented, it can reduce poverty, bridge social divides, and catalyse sustainable development. Far from being a mere administrative necessity, tax systems can become a …

President Bola Ahmed Tinubu has appointed a University of Ibadan, UI, 400-level student, Orire Agbaje as member of the Presidential Committee on Fiscal Policy and Tax Reforms. The committee was inaugurated on Tuesday in Abuja.   The presidency in a tweet on Tuesday said, “one of the members of the …

President Bola Tinubu has, on Tuesday, set up and inaugurated the presidential committee on fiscal policy and tax reforms at the State House in Abuja. The committee would be chaired by Fiscal Policy Partner and Africa Tax Leader at PriceWaterhouseCoopers, Taiwo Oyedele.   The Special Adviser to the President on …

For Nigeria to attain optimum tax revenue collection capacity across the Federal, States and Local Government tax authorities, the country must make hard but necessary reforms that would yield long term benefits. This was the position stated by the Chairman of the Joint Tax Board (JTB), Mr. Muhammad Nami, who …

  By Salisu Na’inna Dambatta   It is common truth that no country on earth, including Nigeria, is able to tax all the taxables, or even bring all the untaxed into the tax net. Tax registers everywhere rarely contain all the untaxed as required by the tax laws. Even though the …

In a bid to address concerns raised by manufacturers and other stakeholders regarding recent tax changes, President Bola Tinubu has signed three executive orders suspending major tax measures. The move comes as a response to the need for clarity and adequate notice for tax adjustments, as specified in the 2017 …

The Centre for the Promotion of Private Enterprise has urged the Federal Government to deploy measures such as the introduction of tax incentives for low-income employees and small businesses and the reduction in import duty on certain products to mitigate the effect of the current reforms on Nigerians. According to …

It is common knowledge that taxation plays a vital role in the economic development of every country whether developed, developing or under developed, and Nigeria is no exception. Government at all levels depends on the tax it collects to run the affairs of the State and it is the duty …

The Lagos State Government has given popular Nollywood actress, Iyabo Ojo seven days to pay the sum of N18,640,092.00 as personal income tax or risk jail. The Lagos government in a letter sent to the actress accused her of owing N7,376,000.00 tax for the year 2022 and N11,264,092 in back …

Nigeria’s Tax-to-GDP ratio which, in the last 12 years, hovered between 5% to 6% rose to 10.86% by the end of 2021. The new ratio was communicated to the Federal Inland Revenue Service (FIRS), via a letter signed by the Statistician-General of the Federation, Prince Adeyemi Adeniran, on the 25th …