Tag: Tax
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Why NNPC Ltd failed to achieve better performance in 2021 – Kyari
Malam Mele Kyari, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC Ltd) has said the company could have achieved better performance in the year 2021.
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BREAKING: NNPC Limited declares profit after tax of N674 billion
The Nigerian National Petroleum Company (NNPC) Limited has declared a profit after tax (PAT) of N674 billion for the year ended 2021, with the company’s profit after tax shot up by 134.8% company to year 2020.
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ICAN sues FIRS to court over tax seal
The Federal Inland Revenue Service, FIRS, has been dragged before the Federal High Court in Lagos by five Accountants over its plan to coerce tax practitioners to use a seal of the Chartered Institute of Taxation of Nigeria for filing annual returns to the Service from October 1, 2022. They filed the suit, marked FHC/L/CS/1837/2022,…
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BREAKING: After public outcry, FG suspends proposed telecoms tax
The federal government of Nigeria has suspended the proposed 5% excise duty on telecommunication services, according to the Minister of Communications and Digital Economy, Isa Pantami.
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FCT-IRS clarifies taxing of residents of neighbouring states working in FCT
Mr Haruna Abdullahi, the Acting Chairman, Federal Capital Territory Internal Revenue Service (FCT-IRS) says the law is clear on where residents working in other states pay taxes. Abdullahi gave the clarification when he appeared on the News Agency of Nigeria (NAN) Forum in Abuja, following concerns of multiplicity of taxes. NAN reports that there has…
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Nigerians to start paying 12.5% tax on calls, SMS, other telecom services
Nigerians will soon start paying a 12.5 per cent tax on making calls, sending SMS and other telecommunications services as the Federal Government plans to implement a five per cent inclusive excise duty on telecommunications services in Nigeria.
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How to bring small businesses into the tax net
The federal government has a burning desire to increase its tax revenue to enable it provide critical infrastructure and stimulate economic growth in the country. However, the Federal Inland Revenue Service (FIRS), the principal organ of government responsible for tax administration in the country, is having a tough time bringing Small and Medium Enterprises (SMEs)…
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Uber, Bolt operators to be probed for tax compliance in Nigeria
Uber, Bolt operators to be probed for tax compliance in Nigeria
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What to know about new ‘Facebook tax’
What to know as FG enforces ‘Facebook tax’