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BusinessNewsPoliticsTaxationAllow VAT Legal Battle Thrive, Ekweremadu Tells National Assembly

Beloved John (Staff Writer)September 13, 2021

The former deputy senate president, Ike Ekweremadu, has warned the national assembly against embarking on any legislation over the collection of the value-added tax (VAT) and stamp duties. According to him, permitting the litigations to run the full course could strengthen the nation’s federalism. He asserted that any constitutional amendment to transfer VAT collection to the exclusive legislative list, as requested by the Federal Inland Revenue Service (FIRS) would be unjust. “In April 2012, I...

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EconomyNewsTaxationAnalysis: Lagos, Rivers Responsible For 70% of VAT Collected By FIRS in the Last Five Years

Bada Yusuf Amoo (Correspondent)September 11, 2021

LAGOS — Analysis has revealed that in the last five years, Lagos and Rivers states have contributed about N3.9tn of the N5.6tn of Value Added Tax (VAT) realized by the Federal Inland Revenue Service (FIRS), a Federal Government agency responsible for the collection of VAT on behalf of states and the Federal Capital Territory. From the data available on the website of the FIRS, it was gathered that the agency generated N5.6tr VAT in the...

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EconomyNewsTaxationHighlights of VAT Bill Proposed, Passed and Signed Into Law This Week In Lagos

Bada Yusuf Amoo (Correspondent)September 11, 2021

LAGOS — This week, a bill sought to empower the Lagos State Government to collect Value Added Tax (VAT) was proposed, it passed the first and second reading in the State House of Assembly. 24 Hours after the bill was passed by the Legislature, the Lagos state Governor, Babajide Sanwo-Olu, signed the bill into law on Friday. In a statement by the State Commissioner for Information and Strategy, Gbenga Omotoso, “The governor signed the ‘bill...

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EconomyTaxationRivers Generated N15bn in June 2021 Got N4.7bn While Kano Got Amount It Made – Wike Blows Hot On VAT

Bada Yusuf Amoo (Correspondent)September 8, 2021

PORT HARCOURT — The Governor of Rivers State, Nyesom Wike, has, on Wednesday, said no going back on the move to stop the Federal Government from collecting Value Added Tax (VAT) from the oil-rich State. The Rivers Governor said he does not care if heaven falls, insisting that the state money is not meant for “Abuja people” but for the development of the state. Wike spoke at a stakeholders’ meeting in Port Harcourt, the state...

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NewsNigeriaTaxationDesperate FIRS Writes National Assembly, Wants VAT In The Exclusive List

Bada Yusuf Amoo (Correspondent)September 8, 2021

ABUJA — The Federal Inland Revenue Service (FIRS) has written to the National Assembly, seeking for the inclusion of Value Added Tax (VAT) collection in the Exclusive Legislative List in order for it to retain the collection of VAT. The Federal Tax collector is also asking the Federal lawmakers to approve the establishment of the Federal Revenue Court of Nigeria. On August 10, a Federal High Court in Port Harcourt delivered a judgment to retrain...

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TaxationFIRS Boss Wants House of Assembly to Address Tax Evasion

Bada Yusuf Amoo (Correspondent)June 11, 2021

ABUJA — The Director-General, Federal Inland Revenue Service (FIRS), Mohammad Nami, on Friday sought partnership with the House of Representatives Committee on Public Account to address tax evasion in the country. At a public hearing organized by the committee in Abuja, Nami said that tax evasion remained a global phenomenon but could be addressed by reviewing relevant legislation and policies. The hearing was on alleged tax evasion by some companies owned by Indomara, a foreign...

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BusinessNewsNigeriaTaxationTricycle Riders Clashes With Police In Kano

Hassan Umar Shallpella (Regional Correspondent)February 23, 2021

KANO CITY — Youths suspected to be tricycle riders have clashed with police operatives at Gyadi-Gyadi court road in Kano city, Kano State. They were on strike to resist the N100 daily tax enforced by the state government through the Kano State Roads and Traffic Agency (KAROTA) among other issues. The riders said the action becomes necessary to avert what they described as extortion in the name of tax and other fines. The police had...

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BusinessNewsNigeriaTaxationBuhari Directs Strict Compliance With Payment of Taxes by Foreign, Local Companies

PilotnewsJanuary 22, 2021

President Muhammadu Buhari has directed the Federal Inland Revenue Services (FIRS) and related government agencies to plug all revenue leakages by ensuring strict compliance with tax payments by foreign companies operating in Nigeria. The president, who gave the directive at the virtual First National Tax Dialogue held at the Conference Hall of the State House, Abuja, also stressed the need for the deployment of more digital platforms and seamless connections. The president ordered all government...

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NewsTaxationKaduna Residents Must Now Pay N1000 Tax — Official

Ibrahim Abdul' Aziz (Correspondent)November 16, 2020

By Ibrahim Abdul’Aziz, Regional Correspondent The Kaduna State Internal Revenue Service, KADIRS, said on Wednesday that it would commence full implementation of its proposed N1,000 annual Development Levy on all adult residents of the state in 2021. The Executive Chairman of the agency, Dr Zaid Abubakar said at a news conference in Kaduna, that as from 2021, every adult residing in the state would be made to pay the levy in line with the provision...

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