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Tag: FIRS

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FIRS blames revenue loss to poor data management

The Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji, stated on Tuesday that it is challenging to quantify revenue lost to tax expenditures due to poor data availability across relevant government agencies. He explained that tax incentives are not adequately assessed in terms of their actual economic benefits, making it difficult to determine […]

News

FIRS targets higher tax-to-GDP ratio with e-invoicing rollout

The Federal Inland Revenue Service is pushing for large tax consultants to adopt the electronic invoicing system, emphasizing its role in improving Nigeria’s tax-to-GDP ratio. The system is expected to enhance tax compliance, increase transparency, and reduce revenue leakages. The FIRS made this call on Monday in Lagos during a stakeholder engagement forum on the […]

News

FIRS, NIESV to partner on asset valuation

The Federal Inland Revenue Service has expressed support for a proposed partnership with the Nigerian Institution of Estate Surveyors and Valuers focused on asset valuation. FIRS Chairman Zacch Adedeji emphasized that this collaboration would improve tax administration and foster economic development. He made the remarks during a visit from NIESV executives, led by President Victor […]

News

Tax bills can’t affect revenue agencies – FIRS

The Chairman of the Federal Inland Revenue Service, Zacch Adedeji, has refuted claims that the four tax bills currently before the National Assembly pose a threat to the operations of any government revenue-generating agency. This was disclosed in a statement by Adeddeji, during a meeting in Abuja with the heads of the National Agency for […]

News

Ongoing recruitment: How to apply for FIRS jobs

The Federal Inland Revenue Service has announced the opening of its recruitment portal for tax officer positions, stating that applications would commence by 12:00 am on November 2nd, 2024. The FIRS made this disclosure in a notice on Friday via its official X handle. The tax authority stated that it is looking to fill Officer […]

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FIRS urges judiciary support to strengthen tax system

The Federal Inland Revenue Service has emphasized the crucial role of the judiciary in sustaining a robust tax system in Nigeria. The agency stated that the integrity and cooperation of the judiciary are essential for ensuring compliance and enhancing public confidence in the tax framework. This was disclosed by the Executive Chairman of the FIRS, […]

News

New withholding tax regime effective January 1, 2025 – FIRS

The Federal Inland Revenue Service has informed taxpayers that the newly gazetted withholding tax regime will take effect from January 1, 2025. In a notice signed by FIRS Executive Chairman Zacch Adedeji, the agency confirmed that the current withholding tax regime, as outlined in the Company Income Tax regulation, will remain in force until December […]

News

FIRS, Abuja chamber partner to enhance tax compliance

The Federal Inland Revenue Service has reaffirmed its commitment to improving tax compliance among Nigerian businesses by forming a strategic partnership with the Abuja Chamber of Commerce and Industry. This collaboration was emphasized during the opening ceremony of the 19th Abuja International Trade Fair, themed “Mobility: Options for Transportation, Trade Finance, and Taxation,” which took […]

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FIRS addresses challenges in Nigeria’s tax reforms

The Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji addressed Nigeria’s recent tax reforms on Wednesday, as industry leaders discussed both progress and challenges. Adedeji, represented by the Acting Director of the Medium Taxpayers Department, South, Oti Olaniyi described the restructuring of the FIRS as a customer-centric shift aimed at enhancing efficiency and […]

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FG to cut monthly fuel import by $610m – FIRS boss

The Chairman of the Federal Inland Revenue Service, Zach Adedeji has said the federal government will cut monthly spending on petrol imports by an astounding $610 million by supplying crude oil to Dangote refinery and other local refineries in naira. This was disclosed in a statement by Adedeji on Monday following the approval from the […]

News

FIRS blames NCS for Binance exec absence in court

The Federal Inland Revenue Service in Abuja has blamed the Nigerian Correctional Service for failing to produce Binance executive Tigran Gambaryan to the Federal High Court Abuja to plead guilty to tax evasion charges. Gambaryan was not present for Wednesday’s scheduled arraignment, according to Nairametrics The FIRS prosecutor, Moses Idehu, informed Justice Emeka Nwite that […]

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FIRS demands capacity building from commonwealth tax administrators

The President of the Commonwealth Association of Tax Administrators, and Chairman of the Federal Inland Revenue Service, Zacch Adedeji, has said that to enhance tax administration processes, there is a need for increased capacity building among its members. This was disclosed in a statement, by his Special Adviser on Media, Dare Adekanmbi, on Wednesday in […]