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Company Income Tax
The Tax Appeal Tribunal has declared as illegal, null and void the decision of Ecobank Nigeria Limited to pay N5, 545,000,000 as dividends to its shareholders in 2016.
The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr Muhammad Nami, has launched a national tour of the six geo-political zones to sensitise the nation, especially taxpayers, on the 2019 Finance Act.
Nigeria’s Senate decision to approve 56 amendments in Finance Bill, an executive bill submitted by President Muhammadu Buhari, seeking an approval to raise tax rates payable by consumers and business entities to augment Federal Government’s declining cashflow, last week opened another pandora box of debate as to the fate of ordinary citizens when it eventually gets signed into law by the president in the days and weeks ahead.
The Federal Government, 36 states and the Federal Capital Territory and 774 local government areas shared N693.529 billion as of September allocation disbursed by the Federation Account Allocation Committee (FAAC).
Mrs Zainab Ahmed, the Minister of Finance, Budget and National Planning, says the nation will not be able to reach 80 per cent revenue performance for 2019.
Following a fresh claim by PriceWaterhouse Coopers (PwC) that the electricity distribution companies (DisCos) have not paid tax to the Federal Government(FG) since privatization of the power sector in 2013, the 10 DisCos have faulted the claim.
African nations are targeting to invest $1 trillion over the next 10 years to bridge the worrisome infrastructure gap on the continent.
The House of Representatives said it discovered that over $900m was still “being held” by Federal Government’s ministries, departments and agencies (MDAs) outside Treasury Single Account (TSA).
A new report has disclosed that the federal government, 36 states and the 774 local government councils in Nigeria shared a total sum of N8 trillion from the Federation Account in 2018 in spite of the shut-ins in several oil installations during the period.
A notice by Minister of Budget and National Planning, Senator Udoma Udo Udoma and Executive Chairman of Federal Inland Revenue Service (FIRS) Mr. Babatunde Fowler of government’s intention to raise the rate of value added tax (VAT) before the end of 2019 is presently causing ripples among various categories of Nigerians.
The Federal Inland Revenue Service on Thursday disclosed that the non-oil sector contributed about 54 per cent of the N5.32 trillion revenue it generated in 2018.
The Federation Account Allocation Committee (FAAC), disbursed the sum of N270.17 billion to the Federal Government in January, 2019, the National Bureau of Statistics (NBS) has disclosed.
The Minister of Finance, Mrs. Zainab Ahmed, Thursday said a total sum of N1.1 trillion would have been released for the implementation of capital projects across the country by the end of December.
The Manufacturers Association of Nigeria (MAN) has urged the Federal Government to engage in Public-Private Partnership (PPP) programmes through concession agreements to ensure infrastructure development and economic growth.
The Federal Government, yesterday, proposed N8.6 trillion budget for 2019 fiscal year as against the earlier figure of N9.1 trillion, while envisaging a total revenue of N7.9 trillion.
African leaders yesterday rose in unison to address a plethora of internal system failure which robs the continent a whopping $50 billion annually via illicit financial flows.
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The Medical Laboratory Science Council of Nigeria (MLSCN) says it has validated four Rapid Test Kits to determine their suitability for testing SAR-COV-2 infection popularly known as COVID-19 in the country.
Nigerian celebrities have taken to their social media platforms to mourn the death of Music Legend, Majekodunmi Fasheke, a.k.a Majek Fashek.
Rwanda says it will announce new restrictions on containing the coronavirus Tuesday, a stark reversal of the country's plan days ago to ease restrictions, including motor vehicle travel throughout the country.
In response to the yearnings of industry stakeholders to declare telecom facilities Critical National Infrastructure, President Muhammadu Buhari, has finally approved and also directed that necessary physical protective measures be put in place to safeguard telecommunications infrastructure deployed across the country.
Alliance for Surviving COVID-19 and Beyond, (ASCAB), a group led by prominent Nigerian human rights lawyer, Femi Falana has said that President Muhammadu Buhari’s claim that late dictator, Sani Abacha, stole $1 billion contradicts the figures earlier released by his own officials.
The Lagos State Government would soon embark on the ‘Register-to-Open Initiative’ toward the gradual reopening of the economy in the state.
The Minister of Youth and Sports Development, Sunday Dare, has revealed there are clauses in Gernot Rohr’s new contract which gives his employer the right to fire him if he underperforms.
In an effort to curtail the incessant attacks by the Boko Haram terrorists on Borno State, the state government has donated three Toyota Hilux vehicles to its security outfit, the Rapid Response Squad (RRS).
The Kogi State Primary Healthcare Development Agency (KGSPHCDA) said it had established a Website that would provide quality and effective healthcare delivery for citizens at the grassroots.
The Peoples Democratic Party (PDP) has won the 2020 local government election in the 18 councils and 196 electoral wards of Cross River.