Muhammad Nami, executive chairman of the Federal Inland Revenue Service (FIRS), says the agency is proposing road infrastructure tax in Nigeria to make the informal sector contribute to building a modern society. The informal sector has business activities that operate outside of government regulation and are largely unregistered. They include commercial bus drivers, artisans such […]
The Tax Appeal Tribunal sitting in Lagos has ruled that Mulitchoice Nigeria has met the conditions necessary to pursue it appeal against the huge Tax sum levied on it by the Federal Inland Revenue Service, FIRS. More to follow…
The prices of crude oil on Monday hit their highest multi-year, as demand recovers from the COVID-19 pandemic and high natural gas and coal prices enabling users to shift to fuel oil and diesel for power generation. Brent crude oil futures went up 59 cents, or 0.7 per cent to $85.45 a barrel by 0900 […]
Marketers of Liquefied Petroleum Gas, well known as cooking gas, on Saturday, expressed worry over the supply shortage leading to persistent increase in the price of the commodity. They warned that 12.5kg of cooking gas currently selling between N7,500 and N8,000 could rise to N10,000 before December if nothing was done to address the crisis. […]
The Corporate Affairs Commission says the Nigerian National Petroleum Company Limited had made history for being the company with the highest share capital in the country. The Registrar General, Corporate Affairs Commission, Garba Abubakar, revealed this on Friday, in Abuja, while presenting the Certificate of Incorporation of the Company to the President, Major General Muhammadu […]
Modelled after New York, London and Singapore financial powerhouses, Nigeria is to establish the Nigerian International Financial Centre (NIFC). This financial house to be established and driven by the Central Bank of Nigeria (CBN) will come on stream in the next 12 months. The CBN Governor, Mr. Godwin Emefiele disclosed this on Tuesday at the […]
The Special Adviser to the President (Media & Publicity), Femi Adesina, has asserted that President Muhammadu Buhari will abide by whatever the courts decide on the issue of Value Added Tax (VAT) that is currently the subject of litigation between some states and the Federal Inland Revenue Service (FIRS). He gave this indication during an […]
The Ondo State government has barred trading unions and associations under the umbrella of Ondo State United Artisan Group from fixing and enforcing uniform prices of goods and services being sold or rendered by their members and non-members. This is part of measures taken by the state to protect its citizens amid soaring costs and […]
A Federal High Court sitting in Port Harcourt has dismissed an application by the Federal Inland Revenue Service (FIRS) seeking to stop the Rivers State Government from collecting Value Added Tax (VAT) in the state. The Court held that the Rivers State government law on VAT remains valid until it has been set aside by […]
Femi Adesina, media adviser to President Muhammadu Buhari, says the Nigerian National Petroleum Corporation (NNPC) declared a net profit in 2020 because the president “did not use it as his personal Automated Teller Machine (ATM)”. Last week, Buhari, who doubles as minister for petroleum resources, announced that the NNPC recorded N287 billion profit after tax […]
