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Federal Inland Revenue Service

Tax Default: Okomu Oil demands apology from FIRS

Okomu Oil Palm Company Plc in Ovia Local Government Area, Edo has urged the Federal Inland Revenue Service (FIRS) to always cross check its records before sealing up business premises for tax evasion.

Federal govt to double tax to GDP ratio in 2 years – Kemi Adeosun

The Federal Government is committed to doubling Nigeria’s tax to Gross Domestic Product (GDP) ratio from its current six per cent to 12 per cent by year 2020.

Federal govt secures global support against tax evasion

The Federal Government has secured a global commitment to fight tax evasion through having access to the financial accounts of Nigerians outside the country.

Nigeria biggest loser of Africa’s $50 billion yearly illicit money abroad

Nigeria is the biggest loser of the $50 billion dollars illicit financial flows out of Africa annually, Minister of Finance, Mrs Kemi Adeosun, has said.

President Buhari approves rebuilding of communities affected by herdsmen’s attacks

The National Economic Council was on Thursday given an interim briefing on the NEC Working Group’s assignment on herdsmen-farmers clashes.

FIRS seals two companies over N8bn tax debt

Two companies in Delta and Edo were sealed on Wednesday by officials of the Federal Inland Revenue Service (FIRS) over N8 billion tax debts.

National Assembly, Presidency to harmonise on tax reforms

The National Assembly Technical Committee on Tax Reforms has assured of harmonious working relationship with the Presidential Initiative on the Ease of Doing Business.

Regular tax payment can protect Nigeria’s economy – Kemi Adeosun

The minister of finance, Kemi Adeosun, says regular tax payment by all economically active citizens can protect Nigeria from the shocks associated with commodity boom and bust cycles.

Federal govt proposes higher tariff for cigarette, alcohol

Minister of Finance, Mrs. Kemi Adeosun, is proposing increased tariff for cigarette and alcohol.

FIRS boss warns of consequences of failure to take advantage of VAIDS

Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has advised tax defaulters to take advantage of the Voluntary Assets and Income Declaration Scheme (VAIDS) to avoid prosecution as well as other penalties at the end of the scheme on 31 March.

EFCC uncovers N2.5bn fraud in NEMA

The National Emergency Manage-ment Agency (NEMA) is currently enmeshed in a massive scandal after the Economic and Financial Crimes Commission (EFCC) uncovered an alleged N2.5billion fraud in the operations of the organisation.

FIRS generates N4.03tn from tax in 2017 – Babatunde Fowler

The Federal Inland Revenue Service said it collected a total of N4.03tn in the 2017 fiscal period.

Federal govt sets up committee on data harmonisation

The Federal Government has established an Inter-Ministerial Committee on harmonisation of data collection and evaluation for the country.

VAIDS: Experts warn against non-declaration

Tax experts have warned against non-compliance with the Voluntary Assets and Income Declaration Scheme, a tax amnesty programme of the Federal Ministry of Finance.


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