The last two editions of our InsideTax publication have focused on tackling tax leakages in the 21st century.  Without doubt, the need for revenue...

The Minister of Finance, Mrs Kemi Adeosun remarked that 87% of Nigeria’s VAT comes from four states and Federal Capital Territory (FCT) while only...

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr Tunde Fowler, stated that the service has automated VAT collection for the critical...

The Federal Inland Revenue Service (FIRS) has upgraded its web platform and as such has introduced some 6 new electronic solutions Nigerians can make...

Nairametrics| It is trite that around the world, entertainers and sportsmen are some of the highest paid individuals. Their sources of income are vast,...

Will Nigerians take that...

Deloitte| A Federal High Court (FHC) on 13 March 2017, delivered a judgment on the validity of the circular issued by Central Bank of...

Tax Deductibility Of Expenses Incurred Outside Nigeria: Are Days Of Arbitrary Awards Over? The increased pace of globalisation has not left Nigeria and Nigerian...

The Value Added Tax Act (VATA or the Law), 2007 governs the administration of VAT in Nigeria. VAT is levied at each stage of...

Another shot at...

New Update Subsequent to our recent tax alert on the ongoing tax amnesty, we have received further update from the FIRS regarding eligibility for the waiver....

Every "good thing" has a time...

It is typical for companies in a particular year, to pay dividends out of retained earnings and/or current year profits. But it could come...

This is for bloggers and news website owners like...

Let's explain this once and for...

The Federal Inland Revenue has made it clear to businesses in Nigeria that it has serious about tackling tax evasion. Since the new Chairman...

Any contractor that is unable to present evidence of tax payment to the Federal Inland Revenue Service (FIRS) will henceforth not be paid by...

Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, disclosed yesterday that the Nigerian National Petroleum Corporation (NNPC) has an outstanding tax debt...

The Federal Government has said that 363,000 companies doing business in Nigeria have never paid tax. Minister of Finance, Mrs. Kemi Adeosun, made this...

Chairman of the Federal Inland Revenue Service (FIRS) Babatunde Fowler on Monday, announced that the agency is targeting a revenue of N4.9 trillion in...

The Chartered Institution of Taxation of Nigeria (CITN), has said that Nigerians should not expect the economy to grow as long as companies in...

Lagos State Internal Revenue Service (LIRS) has shut 13 companies for failure to remit N33.78 million Personal Income Tax of members of their staff...

The Lagos State Internal Revenue Service (LIRS) has sealed six companies for failure to remit N18.73 million personal income taxes of their workers to the...

The Joint Tax Board (JTB) is proposing the commencement of joint audits by the FIRS and state tax authorities.  The proposal is meant to...

The Governor of Lagos State, Mr. Akinwunmi Ambode has appointed Mr. Olufolarin Ogunsanwo as the new Chairman, Lagos State Internal Revenue Service (LIRS). Ogunsanwo’s...

Acting Chairman of the Federal Inland revenue Service, FIRS, Mr. Tunde Fowler, has said that consultants will not be used to collect tax. He...

The Nigeria National Petroleum Cooperation (NNPC) has begun the process of recovering over $7 billion in over-deducted tax benefits from JV Partners on major...

A startling revelation was made at the weekend with the reported loss of N577billion (about $2.9 billion)  Nigeria on tax waivers to mostly multi-national...

The Government in May without much fanfare gazette an approved list of taxes and levies collectible by the three tiers of Government. The Schedule...

The Federal Inland Revenue Services (FIRS) is set to stop airlines that have failed to pay their Value Added Taxes (VAT) by the middle...