Tax debtors/defaulters have till August 31 to pay to avoid penalty-FIRS
Businessam Staff
July 8, 2020
The Federal Inland Revenue Service has given tax debtors/defaulters till August 31, 2020 to pay up before the hammer of the Federal Inland Revenue Service (FIRS) descends on them. The FIRS which extended the window of its waiver of penalty and interest on tax debts owned by individuals and businesses from June 30, 2020 to […]
COVID-19: FIRS unveils automated tax system to boost revenue collection
Businessam StaffMarch 18, 2020
The newly appointed Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami. The Federal Inland Revenue Service (FIRS) says it has unveiled a new automated platform for taxpayers to file transfer pricing declaration and disclosures in Nigeria. The FIRS said the electronic system would also help block leakages in tax collection, especially the Stamp […]
Nami blames FIRS target failure on waivers, overheads
Businessam StaffFebruary 14, 2020
Mohammed Nami, the executive chairman, Federal Inland Revenue Service, has blamed the inability of the service to meet its revenue target on non-discretionary tax waiver grants, illicit financial flows abroad and high overhead costs. The FIRS had in recent times been unable to meet its revenue target a situation that made the Presidency to query […]
CITN lauds FIRS’ strategies towards improving Nigeria’s revenue generation
Adesola AfolabiSeptember 2, 2019
The Chartered Institute of Taxation of Nigeria has lauded achievements of the Federal Inland Revenue Service (FIRS) towards improving the revenue base for the country. According to the institute, The FIRS has done credibly well and needs to be commended by both government and well-meaning Nigerians. Adefisayo Awogbade, registrar/chief executive for the institute in a […]
Apple agrees to pay Ireland €13bn in back taxes after EU challenge
Businessam StaffDecember 5, 2017
Apple has agreed to pay Ireland up to €13bn (£11.5bn) in back taxes after the European Commission said it received unfair tax incentives. The European Commission ruled in 2016 that the tax arrangement was illegal under EU state aid rules, but Apple and Ireland have both appealed the order. In October, Europe’s competition chief Margrethe […]
Israel set to send tax bills to Facebook, Google
Businessam StaffNovember 15, 2017
Israel is planning to send tax bills within a year to internet companies, Google and Facebook, financial Media reported on Wednesday. Isreal is joining efforts by several countries, including the European Union, to get the internet giants to pay more tax. TheMarker quoted Moshe Asher, the Chairman of Israel’s Tax Authority, as saying work on […]
Lagos tax authorities issue guidance on taxation of foreigners with temporary work permit
Businessam StaffSeptember 25, 2017
The Lagos State Internal Revenue Service (LIRS) has issued a public notice regarding the taxation of non-nationals with temporary work permit (TWP), according to Deloitte Nigeria blog. Based on the notice seen by businessamlive, a non-national employee who pays income tax in a country that has a double tax treaty (DTT) with Nigeria only becomes […]