The directive was given so that they would not run foul of the Stamp Duty Act.
Tax debtors are to liquidate their outstanding tax liabilities on or before August 31.
This will also allow them to easily request loans and credit facilities from financial institutions.
NEITI in its quarterly review. has announced that the FAAC, shared the sum of N1.945 trillion to FG and others in the first quarter of 2020.
The Federal Internal Revenue Service (FIRS) has assured all taxpayers with outstanding tax debt that interests and penalties will be waived but with a condition.
The report stated that the agency, under Fowler, failed to collect taxes worth about N41 billion in Lagos as it has not been able to meet...
The solid minerals sector contributed N52.75 billion to federation revenue in 2017, a 21% increase on the N43.22 billion contributed by the sector in 2016.
The Executive Chairman, of the Federal Inland Revenue Service (FIRS), Babatunde Fowler is worried that several people are successfully evading tax.
FRC has asked the senate to prevail on revenue generating agencies to go with the statutory requirement.
The Minister of Finance has lamented Nigeria's poor collection rate of VAT, saying it is 0.2%, lower than the African average of 0.33%.