The Chairman of FIRS, Muhammad Nami, has projected that about N4 trillion would be generated from the extractive sector in 2020.
The FIRS has set a deadline for all taxpayers and organisations to obtain Tax Identification Numbers (TINs).
Foreigners with business visas are reportedly taking advantage of the Free Trade Zones to evade tax payment for businesses and work done in Nigeria.
FIRS has tightened regulations regarding payments of Stamp Duty, Withholding Tax and Company Income Tax .
In a bid to ensure total tax compliance in the country, the FIRS has disclosed plans to put new policies in place.
LIRS is cracking down on companies in Lagos, leading to the shutdown of 16 companies for allegedly not remitting N126.19 million consumption tax.
In a bid to track all tax evaders and defaulters in the country, the FIRS has launched a national intelligence gathering system.
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 Federal Inland Revenue Service (FIRS) has said that the implementation of the Finance Act would lead to richer Nigerians paying more taxes in the country.
The Executive Chairman of FIRS, Mohammed Nami, says tax administrators need to tax street traders, artisans and other jobs in the informal sector.