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Tag: FIRS

News

FIRS tenders apology over ‘offensive’ Easter message

The Federal Inland Revenue Service has apologised to the Christian Association of Nigeria over an Easter post the association described as being provocative. Recall that the Christian body had demanded a public apology from the FIRS after the Revenue agency shared a picture on its X handle,  with the caption “Jesus paid your debts, not […]

News

CITN urges tax practitioners to uphold ethical standards

The President and Chairman of the Council of the Chartered Institute of Taxation of Nigeria, Mr Samuel Agbeluyi, has called on the newly licensed tax practitioners to comply with ethics whilst carrying out their duties. Agbeluyi made the call during the presentation of practising licence certificates in Lagos State, according to The Punch. He said, […]

Reps probe alleged tax evasion by Multichoice group
News

Reps probe alleged tax evasion by Multichoice group

Multichoice Group, a South African entertainment corporation, is allegedly not paying taxes, and the House of Representatives has ordered its Committee on Finance to look into this matter. According to The PUNCH, the motion “Need to investigate the alleged unremitted N1.8tn and $342m tax revenues owed the Federation by Multichoice Group” was adopted before the […]

FIRS announces new TAXPR-MAX platform for CbCR
Business

FIRS announces new TAXPR-MAX platform for CbCR

The Federal Inland Revenue Service has declared that it will be switching over to the TAXPRO-MAX platform from the e-TPPLAT platform, which is used for filing transfer pricing returns and notifying countries about their reporting obligations. According to The Times, this was made known in a public statement that the executive chairman of the organization, Zaach […]

CBN, others to review 2.9tTn tax credit scheme
Business

CBN, others to review 2.9tTn tax credit scheme

Federal Inland Revenue Service, the Ministry of Works, and the Central Bank of Nigeria will convene to discuss the N2.59 trillion tax credit scheme intended for the nation’s road development and repair projects. According to The Times, the FIRS Chairman, Zacheus Adedeji, also voiced his severe displeasure of the N2.59 trillion tax credit program that […]

FIRS announces new TAXPR-MAX platform for CbCR
Business

FIRS denies plans to impose taxes on content creators

The Federal Inland Revenue Service has stated that it does not plan to tax content creators online. The News Agency of Nigeria reported that individuals who create skits are exempt from FIRS taxation. The agency was reportedly considering taxing internet content creators, often known as “skit makers,” in an attempt to increase government revenue. This […]

Canal+ aims for increased stake in MultiChoice
Business

MultiChoice to pay FIRS $37.3m as tax settlement

The largest pay TV company in Africa, MultiChoice Group, announced on Thursday that a tax issue involving one of its subsidiary companies and Nigerian tax authorities had been resolved. A tax payment of approximately $37.3 million is required as part of the settlement. Recall that in 2022, MultiChoice Nigeria’s accounts were frozen by the Federal […]

FIRS announces new TAXPR-MAX platform for CbCR
News

FG approves new organizational structure for FIRS

The Federal Government has authorized a new organizational structure for the Federal Inland Revenue Service to improve operations. The agency announced this on Monday in a statement signed by the Special Adviser Media to the Executive Chairman of FIRS, Dare Adekanmbi. It announced that it would be undertaking a massive restructure. He claimed that the […]

Foreign shipping firms must obey tax laws- FIRS
News

Foreign shipping firms must obey tax laws- FIRS

Executive Chairman of the Federal Inland Revenue Service, Zacch A. Adedeji,has challenged multinational shipping companies operating in Nigeria to make sure they balance their accounts with the Service by December 31, 2023. Adedeji’s directive is as part of his attempts to enforce strict compliance with the nation’s tax regulations. According to a statement by his […]

FIRS announces new TAXPR-MAX platform for CbCR
featured Policy and Regulations

FIRS rules out company taxes’ increment

The acting chairman of the Federal Inland Revenue Service, Zacch Adedeji, has assured top corporate organisations that the agency’s goal of increasing the country’s tax-to-GDP ratio to 18 per cent from 10.86 will not result in higher taxes or new taxes.   He said the President Bola Tinubu-led administration is committed to creating a conducive […]

FIRS begins VAT, WHT compliance monitoring exercise Oct
Business

FIRS begins VAT, WHT compliance monitoring exercise Oct

The Federal Inland Revenue Service has declared that it will begin a countrywide Value-Added Tax and Withholding Tax compliance monitoring exercise for all taxable individuals on October 23. According to Nairametrics, the head of the FIRS, Zacch Adedeji, said the goal of this program, is to increase tax compliance and revenue collection across the country. VAT is a […]