Worried by the growing impact of fluctuating exchange rates for calculating import duties at the ports, the presidential committee on fiscal policy and tax reforms has advised the federal government to adopt an exchange rate of N800 per dollar for…
The Federal Government is working on a system that will provide tax relief to 95 percent of the informal sector of the economy in the country. The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele…
Seplat Energy, an independent indigenous energy company, on Tuesday, said it had paid two billion dollars tax contribution to the Federal Government of Nigeria since its listing on the Nigerian Exchange Ltd.(NGX) in 2014. Mr Roger Brown, Chief Executive Officer(CEO),…
Private school owners in the Federal Capital Territory (FCT) have cried out over the imposition of five per cent annual tax on private schools, noting that it threatens the existence of the schools in Abuja. Speaking with journalists, the FCT…
According to the latest Company Income Tax (CIT) report released by the National Bureau of Statistics (NBS), tax payments from foreign companies operating in Nigeria have seen a significant decline of 45.3 percent within a span of three months. The…
Nigeria has experienced a notable surge in tax earnings from foreign firms, with figures nearly doubling within a year, signaling a significant fiscal boon for the country. This remarkable increase is attributed to the depreciation of the naira, which has…
The Lagos State Governor Babajide Sanwo-Olu has decried the existence of bottlenecks in the nation’s taxation system as an hindrance to the increase in the Internally Generated Revenue (IGR) of the state. Sanwo-Olu made this known when he received members…
Relief has come the way of taxpayers and businesses as the Federal Inland Revenue Service (FIRS) has granted them full waiver on accumulated penalties and interests for outstanding tax liabilities. Chairman of the revenue service, Zacch Adedeji, made the decision…
…ALTON, ATCON plan to increase tariff plans to cover costs …Airtel pays $1.5 million for 1st month …We are working to mitigate the effect — Minister By Blessing Emmanuel, Abuja Telecom Companies under the umbrella of the Association of Telecommunications…
By Seun Ibiyemi The Federal Inland Revenue Service (FIRS) has mandated all shipping companies operating in Nigeria’s territorial waters to regularise their outstanding tax return before 31st December 2023. The service disclosed this in a public statement made available to…
