The 2021 Finance Bill must be tailored towards enabling an efficient tax system that works for every Nigerian. This was the position of the Federal Inland Revenue Service (FIRS) disclosed by its Executive Chairman, Muhammad Nami to journalists after a…
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…
By Moses Adeniyi The House of Representatives has commenced processes to recover N2.6trillion debt owed to the Federal Government by oil and gas companies operating in Nigeria. The green chamber on Wednesday consequently constituted an adhoc committee to interface with no…
The Federal Inland Revenue Service (FIRS) has explained why Nigeria did not sign the Organisation for Economic Cooperation and Development (OECD) G20 Inclusive Framework two-pillar solution to tax challenges of the digitalized economy. The OECD G20 Inclusive Framework two-pillar solution…
The Federal Inland Revenue Service (FIRS) has stated that it would commence back-end tax audit on operators in the maritime and aviation industries. The Executive Chairman, Muhammad Nami, disclosed this Thursday (October, 28, 2021) while delivering an address at the…
As a follow-up to its efforts in sustaining the current smooth supply and distribution of petroleum products nationwide within the festive period and beyond, the Nigerian National Petroleum Corporation (NNPC) has engaged critical stakeholders so as to find lasting solutions…
Amid the dispute between the Federal Inland Revenue Service and the Rivers State Government over the collection of Value Added Tax and the order by the Court of Appeal directing the parties to maintain the status quo, the Lagos Chamber…
By Samuel Omojoye BACKGROUND TO THE DISPUTE It is apparent from ongoing discourse that the judgment of the Federal High Court (FHC) in the case of Attorney General for Rivers State (“AG Rivers”) v Federal Inland Revenue Service (FIRS) &…
…demands exclusive collection of VAT, approval of Federal Revenue Court In the wake of measures by State Governments in the Country to secure legal frameworks for the collection of Value Added Tax (VAT), reports have shown that the Federal Inland…
…Urges tax payers not to panic The Federal Inland Revenue Service (FIRS) has urged taxpayers not to panic over the recent court ruling by the Federal High Court sitting in Port Harcourt which dismissed its motion for stay of execution…
