Tag Archives: Federal Inland Revenue Service (FIRS)

…as Commission Targets N19.4 Trillion for 2024 The Federal Inland Revenue Service (FIRS) says an executive bill which seeks to restructure revenue administration in Nigeria, including regulation of the cryptocurrency industry, is being drafted for transmission to the national assembly. Zacch Adedeji, FIRS chairman, spoke on Saturday at a stakeholders’ …

The federal government has generated  a total of N1.188 trillion as Value Added Tax (VAT) in the first six months on 2022. Data from the National Bureau of Statistics (NBS) indicated that was 18.14 per cent increase compared to the N1.0 trillion generated in the first quarter of 2021. A …

The Federal Inland Revenue Service (FIRS) has stated that it would embark on a nationwide Value Added Tax (VAT) and withholding tax compliance exercise from July 2022. This is according to the Special Assistant to the Executive Chairman, FIRS (Media & Communication), Mr Johannes Oluwatobi Wojuola. The information was contained …

…Approximately 13.5% of total FIRS collection in 2021 …recognised as one of the top 20 taxpayers by FIRS …Named Best Tax Compliant Organisation in Nigeria MTN Nigeria Communications Plc (MTN Nigeria) has revealed that for the year 2021 a total of N6.4 trillion was paid as the tax revenue to …

…Says developing countries have shown remarkable progress in using the personal income tax. Nigeria and other developing countries have been recommended by the International Monetary Fund (IMF) to investigate the revenue potential of personal income tax and, if necessary, expand it. This was revealed in a new IMF study that looked into …

The Federal Inland Revenue Service (FIRS) issued tax credit to the tune of N147.8 billion in 2021, to some private investors and the NNPC. This was disclosed by Tolu Ogunlesi, the special assistant to President Muhammadu Buhari on Digital and New media on his verified Twitter handle. Mr Ogunlesi said …

The Federal Inland Revenue Service (FIRS) said it would give priority to the taxation of the digital economy this year. It added that it would deploy technological tools in assessing entities that fall within the Significant Economic Presence (SEP) threshold and relevant turnover generated from Nigeria. Recall, it was reported …

The Federal Government has said telecommunications and digital economy sector would remain central to the future growth and prosperity of the country. The Minister of Communications and Digital Economy, Prof. Isa Pantami who disclosed this, said the sector generated over N1 trillion to the Government coffers between 2019 and 2021. …

To help cover Nigeria’s revenue shortfall, the Federal Inland Revenue Service (FIRS) says it is proposing the introduction of road infrastructure tax by making the informal sector contribute to building a modern society. The Executive Chairman of FIRS, Mr Muhammad Mamman Nami said this when a delegation of the Nigeria …

President Muhammadu Buhari has ordered  deployment of technology to tax all digital transactions carried out across the country. The Secretary to the Government of the Federation (SGF), Mr Boss Mustapha disclosed this  at the 17th General Assembly and 10th anniversary of the West Africa Tax Administration Forum (WATAF) in Abuja …