FIRS explained that the new policy was necessary so as to give the instruments the legal backing required.
These tier-1 banks may be entitled to tax exemptions in Q2 2020.
Nigerians have been reacting to the circular from the Executive Chairman of Federal Inland Revenue Service (FIRS), Muhammad Nami, to taxpayers over payment of taxes.
The FIRS, in its response to the impact of COVID-19 in its operations, has launched business continuity plan and measures to ensure the safety of taxpayers.
FG needs to do more to ameliorate the impact of the COVID-19 pandemic on Nigerians and businesses, according to analysts at KPMG Nigeria.
According to the Post Master General of the Federation, the removal of stamp duty collection from the duties of NIPOST is depleting their revenue.
FAAC disbursed a sum of N650.83 billion to the three tiers of government in December 2019 from the revenue generated in November 2019.
According to FIRS boss, several multinationals within the country have failed to remit the required tax payment to the service by lying on their pioneer status.
The Federal Inland Revenue Service (FIRS) has announced the commencement of its plans to deploy technology in collection of government revenue.
The FIRS has set a deadline for all taxpayers and organisations to obtain Tax Identification Numbers (TINs).
