New withholding tax regime to take effect from January 1st, 2025- FIRS
The Federal Inland Revenue Service (FIRS) has notified taxpayers that the newly gazette withholding tax regime will begin to take ...
Tag: firs
News and Analysis about firs
FIRS set to introduce e-invoice system to enhance Nigeria’s tax administration
The Federal Inland Revenue Service (FIRS) has announced plans to implement a digital solution, the FIRS e-Invoice, aimed at improving ...
Nigeria’s Company Income Tax (CIT) collection rises by 150% in Q2, 2024
The federal government’s Company Income Tax (CIT) collection in the second quarter of 2024 rose by 150.83% to N2.47 trillion.
VAT earnings doubled in seven months as Nigerians battle rising costs of living
Nigeria's Value Added Tax (VAT) earnings have more than doubled in the first seven months of 2024 compared to the ...
NNPCL deducts $262.55 million from remittances to FIRS as tax credit for road infrastructure
The Nigerian National Petroleum Company Limited (NNPCL) has deducted a total of $262.55 million from its remittances to the Federal ...
NNPCL pays government N1.17 trillion in taxes and royalties in 2023
The Nigerian National Petroleum Company Ltd (NNPCL) incurred a total of N2.69 trillion as tax in the full year 2023.
FG to meet N19.4 trillion revenue projection in 2024 – Zacch Adedeji
The chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has stated that the federal government is on track ...
Federal Government to introduce new tax laws by September, targets regulation of cryptocurrency industry
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, announced that the Federal Government is set ...
We support the government on windfall tax- Tony Elumelu
The Chairman of United Bank for Africa (UBA), Mr. Tony Elumelu has rendered his support for the recently passed windfall ...
FG to tax banks 50% of realised profits on FX gains in amended 2023 Finance Act
The federal government plans to tax bank 50% of profit realised from foreign exchange revaluation in 2023.
