Tag Archives: Tax

Tax administrators must keep up with the dynamics occasioned by disruptive new technologies of the 21st century, and arm themselves with the necessary skills, capacity and character for effective and efficient tax administration in the fourth industrial revolution age. This was the position expressed by the President of the Commonwealth …

The International Fiscal Association (IFA) has thrown its weight behind Nigeria for refusing to endorse the Organization for Economic Cooperation and Development (OECD) G20 inclusive Framework two-pillar solution to the taxation of the digital economy, saying it will be an infringement on Nigeria’s sovereignty. The Federal Inland Revenue Service (FIRS) …

The Chartered Institute of Taxation of Nigeria (CITN) has been urged to support the Federal Inland Revenue Service (FIRS) in its drive towards full digitalisation of tax administrative processes. Vice President Yemi Osinbajo SAN made this call in his speech at the Chartered Institute of Taxation of Nigeria’s (CITN) 24th …

Taxpayers who have outstanding foreign currency tax liabilities can now take advantage of the Federal Inland Revenue Service (FIRS) one-month window to settle these liabilities in Naira, with effect from the 1st of March, 2022, to 31st March, 2022, this is according to a Public Notice released by the Service …

The Executive Chairman of the Federal Inland Revenue Service, (FIRS) has received encomiums from the Global Economic Policy Initiative (GEPIn) for what the group describes as “fiscal prudence over the affairs of the FIRS, and ensuring maximum efficiency with minimal resources.” In a statement shared to the media by the …

The Federal Inland Revenue Service (FIRS) has stated that it achieved over a hundred percent of its collection target for the year 2021, despite the global economic challenges occasioned by the Coronavirus pandemic, as well as the disruption of business activities in 2020 by nationwide protests. “Notwithstanding the limitations faced …

The Federal Inland Revenue Service (FIRS) has disclosed why it developed a portal called Deposit Money Banks (DMBs). It said this was done as part of efforts to provide information of corporate customers’ transactions above ₦10 million and individuals above ₦5 million and this initiative was awarded the International Standard Organization …

By Bernard Okri In the second week of December 2019, when President Muhammadu Buhari announced the nomination of a certain Muhammad Nami to be the forerunner of the Federal Inland Revenue Service, many were taken by surprise. Known very well to the staff of the FIRS, who he met during …

When Muhammad Nami was appointed to take over the helm of affairs at the Federal Inland Revenue Service (FIRS), many were of the view that the appointment is to sate the demands of some influential persons as his antecedents doesn’t show him as one that can lead the revenue collection …

The Executive Chairman of the FIRS, Muhammad Nami has highlighted the need to include all revenue generated at the national and sub-national levels in order to properly determine the accurate computation of Nigeria’s tax-to-GDP ratio. He stated this in his welcome remarks at the “National Symposium On Taxation And Challenges …