The Federal Inland Revenue Service (FIRS) has issued a directive mandating strict compliance with withholding tax regulations on interest earned from short-term securities to avoid the imposition of penalties.
The Federal Inland Revenue Service (FIRS) has notified taxpayers that the newly gazette withholding tax regime will begin...
The Federal Government has categorized all electricity companies including the generation and distribution companies (GenCos and DisCos) as part of those exempted from payment of withholding tax in the country.
The federal government has approved a new withholding tax regime for the country and introduced key changes to the previous tax regime such as reduction of rates for businesses with low margins and measures to curb evasion.
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele has stated that the committee has proposed an exemption of manufacturers and farmers from paying withholding tax as a way of reducing the tax burden on businesses.
The FCT-IRS, the internal revenue generating agency for Nigeria’s Federal Capital Territory (FCT), has urged Ministries Departments and Agencies (MDAs), and contractors in the territory to remit Withholding Tax (WHT) appropriately.
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There are inherent difficulties in obtaining WHT credit, which makes it appear unfavorable to taxpayers.
Ever hear people use words relating to the stock market in a conversation or in the news?
