“No tax ID, no account”- New bill enforces tax ID for opening financial accounts

Business a.m. Nigeria’s lawmakers are set to introduce a groundbreaking legislative proposal, requiring all individuals engaged in financial services, including banking, insurance, and stock broking, to provide their Tax Identification Number (TIN) before opening new accounts or operating existing ones. The proposed legislation, titled “A Bill for an Act to Provide for the Assessment, Collection […]

FIRS innovates tax payment system with USSD Code *829#

…Becomes 6th African nation to embrace USSD innovation Business a.m. The Federal Inland Revenue Service (FIRS) has unveiled a Unstructured Supplementary Service Data (USSD) code *829#, aimed at enhancing taxpayers’ satisfaction and ease of doing business in Nigeria.  This initiative makes the country the sixth African nation to integrate USSD code technology into tax payment […]

CITN lauds FIRS’ strategies towards improving Nigeria’s revenue generation

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

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

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 […]