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FIRS
News and Analysis about firs
The Federal Inland Revenue Service (FIRS) has announced plans to implement a digital solution, the FIRS e-Invoice, aimed at improving tax administration and compliance in Nigeria.
The federal government’s Company Income Tax (CIT) collection in the second quarter of 2024 rose by 150.83% to N2.47 trillion.
Nigeria's Value Added Tax (VAT) earnings have more than doubled in the first seven months of 2024 compared to the same period last year.
The Nigerian National Petroleum Company Limited (NNPCL) has deducted a total of $262.55 million from its remittances to the Federal Inland Revenue Service (FIRS) as part of the Road Infrastructure Tax Credit Scheme (RITCS).
The Nigerian National Petroleum Company Ltd (NNPCL) incurred a total of N2.69 trillion as tax in the full year 2023.
The chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has stated that the federal government is on track to achieve its N19.4 trillion revenue target for 2024.
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, announced that the Federal Government is set to introduce new tax laws by September, which will include regulations for the cryptocurrency industry.
The Chairman of United Bank for Africa (UBA), Mr. Tony Elumelu has rendered his support for the recently passed windfall tax on the foreign exchange revaluation gains of commercial banks.
The federal government plans to tax bank 50% of profit realised from foreign exchange revaluation in 2023.
KuCoin's 7.5% VAT on Nigerian crypto transactions, effective July 8, 2024, ignites backlash amid calls for cohesive regulatory policies.
A High Court in Abuja has scheduled the verdict for the tax evasion trial against the popular cryptocurrency platform Binance for October 11, 2024.
The Federal Inland Revenue Service (FIRS) says tax collection in the first quarter of the year increased by 56% to N3.94 trillion when compared to the N2.52 trillion it collected in the same period of last year.