By Seun Ibiyemi Nigeria’s Federal Inland Revenue Service, FIRS, announced that it has extended the due date for submission of Companies’ Income Tax for the 2023 year of Assessment. The FIRS disclosed this in a statement on Monday afternoon stating…
By Seun Ibiyemi The Federal Government says it intends to recoup over N553 billion unremitted taxes from international petroleum shipping companies operating in Nigeria. The Director, International Tax, Federal Inland Revenue Service (FIRS), Mr Abdullahi Aliyu, said that recouping the…
By Ibiyemi Mathew The Federal Inland Revenue Service (FIRS) has revealed plans to commence digital taxation of market traders in the informal sector. The FIRS disclosed this in a statement stating that it is partnering with the Market Traders Association of…
The Federal Inland Revenue Service (FIRS) has partnered with the Market Traders Association of Nigeria (MATAN) to collect and remit Value Added Tax (VAT) to the FIRS from the country’s markets, especially in the informal sector. The Association which has…
Nigeria’s Tax-to-GDP ratio which, in the last 12 years, hovered between 5 per cent to 6 per cent rose to 10.86 per cent by the end of 2021. The new ratio was communicated to the Federal Inland Revenue Service (FIRS),…
…Also bags BusinessDay Newspaper Excellence in Public Service Award 2022 The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami has been named winner of the Institute of Chartered Accountants of Nigeria (ICAN) Merit Award 2023 in its Non-Members…
By Dr Gbenga Adeoye Let me start with three proverbs, if they don’t want you in a city, do not raise song. If you do, nobody will join you to sing it. Tax is not something people enjoy to pay…
Revenue collection by two key agencies of the Federal Government (FG), the Federal Inland Revenue Service (FIRS) and the Nigeria Customs Service (NCS), rose to N12.7 trillion in 2022 representing a 46.8 percent increase from N8.7 trillion collected in 2021.…
A Memorandum of Understanding between Nigeria’s Federal Inland Revenue Service (FIRS) and the United Kingdom’s His Royal Majesty’s Revenue and Customs (HMRC) was signed recently with the aim of fostering improved collaboration on capacity building between the two tax authorities.…
In order to achieve its mandate of implementing relevant policies, developing and regulating Information Technology for sustainable development, the National Information Technology Development Agency (NITDA) in collaboration with the Federal Inland Revenue Service (FIRS) has held a stakeholders’ engagement forum…
