Nigeria’s leading banks have paid a total of N751.796 billion in income tax to the Federal and State Governments, as well as various agencies, for the 2024 financial year, which concluded on December 31, 2024. This sum represents a substantial…
Dangote Industries Limited and its subsidiaries has disclosed that it paid over N402 billion in taxes in 2024, making it the highest taxpayer in the country. Dangote’s Chief Branding and Communication Officer, Anthony Chiejina, declared during a meeting with some…
The Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reaffirmed the Federal Government’s commitment to strengthening Nigeria’s tax system by ensuring the curtailment of tax evasion. He made this known during the inauguration of the…
The Federal Capital Territory Internal Revenue Service (FCT-IRS) has urged all private companies, Ministries, Departments, Agencies (MDAs), and other employers in the FCT to submit their employee annual tax returns for 2024 before the January 31, 2025, deadline. This reminder…
Oyo State Government, on Friday, warned business owners domiciled in the state and residents against invading taxes, just as it said it might use legal action against such an individual. The Executive Chairman of the state Board of Internal Revenue,…
By Gbenga Olaseinde The Coordinating Minister of Health and Social welfare, Dr Muhammad Ali Pate, has disclosed that Nigeria is one of the Countries faced with growing health crisis with Sugar Sweetened Beverages (SSB) related diseases such as obesity and…
The Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has denied a media report on the proposal to reduce the Federal Government’s share from the Federation Account Allocation Committee. While reacting to a report published by an…
The Federal Government has unveiled new tax regulations aimed at reducing the tax burden on the manufacturing sector and small businesses. This was disclosed in the “Deduction of Tax at Source (Withholding) Regulations, 2024,” signed by the Minister of Finance…
By Esther Agbo The Federal Government has reaffirmed its commitment to empowering micro, small, and medium enterprises (MSMEs) through tax incentives, aimed at spurring growth, fostering innovation, and ensuring the sector’s sustainability. This reaffirmation was made by the Executive Chairman…
The Special Adviser to the President, Information and Strategy, Bayo Onanuga has said that foreigners earning income in Nigeria will henceforth pay taxes under a proposed amendment to the National Identity Management Commission (NIMC) Bill, 2024. Onanuga said this while…
