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FIRS
News and Analysis about firs
The Nigerian Government revealed that the Federal Inland Revenue Service will begin the collection of taxes usually operated by 62 other agencies including the Nigerian Customs Service.
In a bid to ensure ease of doing business, transparency and efficiency in revenue collection, the Federal government has mooted plans to reduce the number of taxes from 52 to 10 and also change the Federal Inland Revenue Service (FIRS) to Nigeria Revenue Service (NRS) which will harmonise all tax collection activities of the Federal government.
The Federal Inland Revenue Service (FIRS) has reported a tax revenue collection of N5.5 trillion between January and June of 2023.
LCCI has called on Tinubu to ensure that the proposed merger of NIMASA, FIRS & NCS into the NRS does not impede the ease of doing business.
Nigeria’s Federal Inland Revenue Service, FIRS, announced that it has extended the due date for submission of Companies' Income Tax for the 2023 year of Assessment.
The Nigerian Government revealed that it plans to recover N553 billion in unremitted taxes owed by international petroleum shipping companies operating in Nigeria.
FG partnering with MATAN to collect and remit Valued Added Taxes from their members, especially those in the informal sector.
Freight forwarding agents have advised against the merger of NCS, NIMASA, and FIRS into NRS, warning of potential administrative catastrophe.
Tinubu Policy Advisory Council has proposed the merger of the Federal Inland Revenue Service (FIRS), Nigerian Customs Service (NCS), and the Nigerian Maritime Administration and Safety Agency (NIMASA) into the Nigerian Revenue Service.
Some oil tanker owners are avoiding Nigeria due to backdated taxes running into millions of dollars. The backdated taxes are being issued by the Federal Inland Revenue Service (FIRS).
Nigeria's Tax-to-GDP ratio in the last 12 years hovered between 4-6% and rose to 10.86% by the end of 2021
Nigerians using Mailchimp will have to pay more from April 20th as the company implements 7.5% VAT.