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Business News

FIRS issues 30-day window to obtain tax clearance certificates

The Federal Inland Revenue Service (FIRS) has given taxpayers 30 days window to secure their 2020 tax clearance certificates. 
The 30-day window, which starts on January 2, 2020, is one of the major directives issued by the tax collector’s new Executive Chairman, FIRS

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The Federal Inland Revenue Service (FIRS) has given taxpayers 30 days window to secure their 2020 tax clearance certificates. 

The 30-day window, which starts on January 2, 2020, is one of the major directives issued by the tax collector’s new Executive Chairman, FIRS, Muhammad Nami since he was appointed by President Muhammadu Buhari.

FIRS believes the window would ease the process of obtaining the tax clearance certificates, which can be used by contractors and service providers to seek contracts, obtain loans, renew permits, registration, franchises, and sign agreements. 

[READ ALSO: Nigeria’s taxpayer roll expected to reach 45 million soon(Opens in a new browser tab)]

The exercise, which ends by January 31, 2020, is in line with the provisions of Section 101 (1) of Companies Income Tax Act 2004 and in conformity with Self-Assessment Regulation, 2011. 

“Notice is hereby given that the Service has put in place machinery to issue 2020 TCC for all eligible taxpayers from 2nd January to 31st January 2020. 

“The issuance of the TCC to ease the burden of taxpayers is in line with the provisions of Section 101 (1) of CITA LFN 2004 and in conformity with Self-Assessment Regulation, 2011. 

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“Taxpayers are therefore encouraged to take advantage of this initiative and apply for their 2020 TCC as soon as possible.” 

Nami sends warning to defaulters: The FIRS boss said the agency would not hesitate to place a lien on the bank accounts of companies that default on tax and mislead the tax administrator on their tax compliance level. 

Nairametrics had previously reported that in a renewed bid to bring tax defaulters to book in the country, the FIRS announced its intention to commence nationwide tax enforcement on December 18, 2019.

FIRS disclosed plans have been concluded to begin tax enforcement against tax defaulters as they continue to fail in fulfilling their tax obligations. The FIRS acting Chairman also advised defaulting taxpayers to “settle their tax liabilities within Seven days of the publication to avoid any inconveniences or interruptions in their operations. 

If a lien is imposed on a bank account, some or all of the account’s funds cannot be withdrawn and used by the account holder. This is because a creditor or attorney has filed legal paperwork with tax defaulter’s bank in a bid to freeze defaulter’s funds.

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Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: [email protected]

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Hospitality & Travel

How air passengers can save more

Recent airfare hike has created holes in the pockets of air passengers.

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It is no longer news that air tickets have increased by over 100%, as reported by Nairametrics a few weeks back.

This development has created holes in the pockets of air travel patrons, especially those who chose the medium of transportation due to several cases of kidnappings and attacks witnessed on the road.

While some travellers doubt that it is possible to save on airfare, others, especially business travellers, argue that saving money at the point of purchasing the flight ticket is achievable. Here are some ways to spend less on air travel tickets.

Make findings on prices across many carriers

Fares for similar flights can vary dramatically from airline to airline. A quick search for a non-stop flight (both local and international) on online travel sites can help you uncover airlines offering cheaper ticket prices.

But where exactly should you search?

“There are several places to search for airfares online. You could search each airline’s website individually, but that could take some time. A more convenient way is to search a travel website like Travelstart.com, Orbitz.com, Travelocity.com, Kayak.com, Hipmunk.com or Dohop.com. You should also compare the prices on travel websites with those on the actual websites of each airline to confirm the prices.” Samuel Olafimihan, a travel agent, explains.

Sign up for alerts

Osagie Ehi, another travel agent, explained that to save more, air passengers should sign up for online alerts that will inform them of discount deals by airlines. According to him, the alerts often promote deeply discounted fares on a few seats in order to earn the airline some goodwill and free word-of-mouth advertising.

He said, “Most carriers allow you to sign up for these messages on their websites and customise them to your favoured airport. Many alerts are delivered by e-mail, but airlines are now using social media outlets like Facebook and Twitter to distribute them as well.

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You can also receive alerts through a number of third-party websites, which will send you alerts about low prices on a variety of airlines. The sites will let you know when a great fare becomes available for your area.”

Book different flights

For passengers flying a long distance, Olafimihan had this to say:

“The trip to a particular stopover might be cheap for one airline, and the trip from that stopover to the final stop cheaper for another. If you can afford a layover of a day or two, then book the flights separately. Though you are likely to get to your destination a little later, you would have saved some thousands of naira.”

Go for a one-way ticket

This, according to Ehi, allows passengers to book another airline on the return trip if that airline is cheaper, or book at the time of the return trip at a cheaper rate than when setting out.

What you should know: Last week, Nairametrics reported that airfares across Nigeria had doubled. Ticket fares to cities like Port Harcourt, Ilorin, and northern states like Kebbi, Borno, Adamawa and Kano have increased by as much as 100% in the last one month.

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What they are saying: Travel agents, in separate interviews, told Nairametrics that not only are airfares becoming more unpredictable in Nigeria due to exchange rate and other factors, the fares may also not come down anytime soon. This is why it is advised that you explore the options listed above while trying to book a ticket.

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Business

Twitter to establish its first African presence in Ghana

Twitter has announced Ghana as headquarter of its operations in Africa.

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Jack Dorsey, CEO of Twitter Inc has announced today in a tweet that the company is establishing a presence in Africa.

“Twitter is now present on the continent. Thank you, Ghana and Nana Akufo-Addo,” Dorsey tweeted.

As part of its mission to serve the public conversation, Twitter is making it easier for everyone to join in and provide more relevant experiences for people across the world.

Why Ghana as a choice…

Twitter stated that it chose to expand to Ghana first because the country is an advocate of free speech, online freedom, and the Open Internet.

In a blog post the company said, “In line with our growth strategy, we’re excited to announce that we are now actively building a team in Ghana. To truly serve the public conversation, we must be more immersed in the rich and vibrant communities that drive the conversations taking place every day across the African continent.”

“Furthermore, Ghana’s recent appointment to host The Secretariat of the African Continental Free Trade Area aligns with our overarching goal to establish a presence in the region that will support our efforts to improve and tailor our service across Africa.

“Whenever we enter new markets, we work hard to ensure that we are not just investing in the talent that we hire, but also investing in local communities and the social fabric that supports them. We have already laid foundations through partnerships with Amref Health Africa in Kenya, Afrochella in Ghana, Mentally Aware Nigeria Initiative (MANI) in Nigeria, and The HackLab Foundation in Ghana. As part of our long-term commitment to the region, we’ll continue to explore compelling ways we can use the positive power of Twitter to strengthen our communities through employee engagement, platform activation, and corporate giving,” Twitter stated.

The company is also looking to hire specialists to join several teams to operate in product, design, engineering, marketing and communications.

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Reacting to Dorsey’s announcement, Ghanaian President, Nana Akufo-Addo, in a tweet said that the government and people of Ghana welcome welcomed the micro-blogging site.

“The choice of Ghana as HQ for Twitter’s Africa operations is excellent news. Government and Ghanaians welcome very much this announcement and the confidence reposed in our country,” President Akufo-Addo tweeted.

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