Zinox and TD Africa have been vindicated as court rules on N170 million FIRS contract scandal.
VAT revenue grew by 29.3% compared to N1.18 trillion recorded in 2019 as professional services sector tops with N162.3 billion remittance
President Buhari has directed the FIRS and other related government agencies to ensure strict compliance of tax payments by foreign companies.
Buhari has directed all government agencies and business enterprises to grant FIRS access to their systems for a seamless connection.
FIRS has announced that it generated N4,952,243,711,728.37 as tax revenue in the 2020 fiscal year.
The FIRS has added additional 35 tax audit units nationwide, to stem the high rate of illicit financial flow in the country.
The FIRS has stated that it shall recover all outstanding debt with penalties and interest from January 1, 2021.
The NSE has given clarifications on the public notice released by the FIRS, itemizing contract notes at an ad valorem rate of 0.08%.
Total company income tax generated increased by 3.48% in Q3 2020, compared to N402.03 billion recorded in Q2 2020.
The sectoral distribution of VAT data increased from N327.20 billion in the Second quarter of 2020 to N424.71 billion by the end of Q3 2020.