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FEDERAL INLAND REVENUE SERVICE
FIRS has tightened regulations regarding payments of Stamp Duty, Withholding Tax and Company Income Tax .
The Executive Chairman of FIRS, Muhammed Nami, said FIRS might not be able to meet the N8.5 trillion revenue target set by President Buhari.
In a bid to ensure total tax compliance in the country, the FIRS has disclosed plans to put new policies in place.
The reasons the FIRS failed to attain its tax revenue projections under former Executive Chairman, Babatunde Fowler, have been disclosed by his successor.
FG made N1.1 trillion from VAT in twelve months, an amount lower than the projected N1.7 trillion, which the Federal Government set in the 2019 budget.
The MD of Citadel Oracle Concepts Ltd, Benjamin Joseph, reportedly cried and rolled on the floor of a courtroom, after he was denied a chance to testify.
The Executive Chairman of FIRS, Mohammed Nami, says tax administrators need to tax street traders, artisans and other jobs in the informal sector.
PricewaterhouseCoopers has enumerated important areas the Federal Inland Revenue Service, under Muhammad Nami, should be focusing on.
About 50 directors, deputy directors, and assistant directors have been redeployed by the new Executive Chairman, FIRS, Muhammad Nami. The move is to meet the agency's N8.5 trillion target revenue. #FIRS
The Federal Government has disclosed that it will begin implementation of the 7.5% Value-Added Tax (VAT) from the first of February.
WEMPCO Steel Mill Limited is close to shutting down after the Federal Inland Revenue Service (FIRS) placed a lieu on the company’s account. #WEMPCO #FIRS
The Federal Government has withdrawn its demand for the sum of N242 billion and $1.2 billion from telecommunications company, MTN Nigeria.