Over 14billion is lost yearly on Tax Evasion: Chairman FIRS

Babatunde Fowler, executive chairman, Federal Inland Revenue Service (FIRS), says Nigeria loses about $14 billion to tax evasion annually. According to NAN, he said this on Wednesday while declaring open a seminar by the West Africa Tax Administration Forum (WATAF) in Abuja. The three-day seminar was organised by WATAF in collaboration with Global Forum on[...]

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Kaduna State Close all Access Bank Branches on Tax Default

The Kaduna State Internal Revenue Service (KDIRS) has sealed three branches of Access bank in the state over alleged non-remittance of N175 million Pay-As-You-Earn (PAYE). In an interview with journalists, Francis Kozah, legal adviser to KDIRS, said the branches of the bank were sealed on Wednesday. He said the sealed branches located along Bida road,[...]

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Lagosians react as FG puts 5% tax on all online purchases!

Lagos – Mixed reactions have trailed the proposed plan by the Federal Government to slam a five per cent Value Added Tax (VAT) on goods bought online. Prof Sheriffdeen Tella, a Senior Economist at the Olabisi Onabanjo University, Ago-Iwoye, Ogun, said that the online space was still growing and taxing it now would discourage transactions.[...]

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FIRS generates N23bn by ‘freezing’ accounts of 3,000 tax defaulters

The Federal Inland Revenue Service (FIRS) says it generated over N23 billion in unpaid taxes from the recently suspended restriction on the corporate bank accounts of tax defaulters. Babatunde Fowler, FIRS chairman, was speaking in Lagos on Thursday at the Manufacturers Association of Nigeria (MAN) interactive forum on tax matters. According to him, the focus[...]

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