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Withholding Tax

President of the Senate, Ahmad Lawan, disclosed on Tuesday that the Senate may next week consider the report of an Ad-Hoc Committee on security challenges with a view to finding solutions to Nigeria’s security problems.

Senate investigates deposit banks over remittance of tax revenues

The Senate has mandated its Committees on Banking, Insurance and Financial Institutions, and Finance to investigate withholding tax revenues on both bank deposits and dividends.

FIRS gives seven days notice to tax defaulters

The Federal Inland Revenue Service (FIRS) has served a seven-day notice to tax defaulters across the country.
A lawyer walks through the compound at the Federal High Court in Ikoyi district in Lagos, Nigeria, May 8, 2018. REUTERS/Akintunde Akinleye

Tax assessment: Court fixes January 30 for MTN’s suit against AGF

A Federal High Court Lagos on Tuesday further adjourned hearing until Jan. 30 and Jan. 31, 2020, a suit filed by MTN Nigeria Communication Ltd, against the Attorney General of the Federation, over alleged N242 billion and 1.3 billion dollars import duties and withholding tax assessments.
Nigeria Governors’ Forum (NGF)

Governors in marathon meeting over N614 billion bailout deductions

The thirty-six State Governors under the aegis of Nigeria Governors Forum (NGF), have converged in Abuja for a marathon meeting to review deductions being made from states accounts following bailout funds of N614 billion given to them by the federal government.

Discos fault PwC claims on non-payment of tax

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.
Anthony Mkpe Ayine

AuGF to audit FIRS, Customs

The Auditor-General of the Federation, Anthony Mkpe Ayine, has begun deep engagements with key federal agencies in his efforts to improve the credibility of public finance administration in Nigeria.

N1.2 billion tax error claims: Tribunal permits counsel to tender documents from bar

The Tax Appeal Tribunal sitting in Abuja on Friday, gave permission to the counsel to Mr Joe Daudu, SAN, to tender documents from the bar, in order to avoid further delay in the matter.

RMAFC: No going back on banks’ probe for tax collection verification

The Revenue Mobilisation Allocation and Fiscal Commission on Sunday said there was no going back on the on-going probing of Money Deposit Banks to ascertain the amount of money they collected on behalf of revenue generating agencies of the government.

Delta, Akwa Ibom received highest as federal, states, local governments shared N8 trillion in...

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.

FIRS shuts NDPHC HQ over N9.8 billion tax debt

The Federal Inland Revenue Service (FIRS), yesterday, sealed of the headquarters of the Niger Delta Power Holding (NDPHC) over tax liabilities totaling N9, 831,368, 259.90.
FILE PHOTO- An MTN starter kit pack on display at a retail stand in Abuja, Nigeria November 17, 2015. REUTERS-Afolabi Sotunde-File Photo

MTN demands N3 billion damages from federal government over $1.3 billion tax default claim

MTN Nigeria is seeking N3 billion in damages and legal costs from the federal government.
FILE PHOTO- An MTN starter kit pack on display at a retail stand in Abuja, Nigeria November 17, 2015. REUTERS-Afolabi Sotunde-File Photo

MTN suit against federal government for hearing December 3

A Federal High Court, Lagos, will on Dec. 3 hear a suit by MTN Nigeria Communication Ltd against the Attorney General of the Federation challenging the legality of N242 billion and 1.3 billion dollars import duties and withholding tax assessment.
Institute of Chartered Accountants of Nigeria (ICAN)

ICAN urges FIRS to sanction MDAs over failure to remit tax

Participants at the just concluded 48th Annual Accountant Conference in Abuja have called on the Federal Inland Revenue Service (FIRS) to sanction all the Federal Government Ministries, Departments and Agencies (MDAs) that fail to remit their taxes to serve as a deterrent to others.

FIRS demands evidence of General Electric tax remittance

The Federal Inland Revenue Service (FIRS) has demanded evidence that General Electric International Operations Nigeria Ltd remitted the excessive tax it withheld from Arco Group Plc, a Nigerian oil servicing company, for nine years.

EFCC closes in on JAMB directors over N8 billion fraud

Barring any last minute change, the operatives of the Economic and Financial Crimes Commission, EFCC, are set to arrest some senior staff of the Joint Matriculations Board, JAMB, who have been fingered in the disappearance of over N8 billion revenue.

Report: How NSITF misappropriated N6.2 billion

The Administrative Panel of Enquiry, which probed the N6.2 billion scam at the Nigeria Social Insurance Trust Fund (NSITF) on Wednesday submitted its report to the Minister of Labour and Employment, Chris Ngige.

Federal govt orders contractors to show TIN before payment

The federal government has ordered vendors of Ministries, Departments and Agencies (MDAs) to display their Tax Identification Numbers (TINs) on their invoices before payments are effected by the MDAs.

Federal govt loses $2.27 billion to OPA – NEITI

The Nigeria Extractive Industries Transparency Initiative (NEITI} says Nigeria lost N60.99 billion 2.27 billion dollars and to the Offshore Processing Arrangement (OPA) and crude for product swap arrangement, valuation issues, crude oil and petroleum products losses.

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Contractors under the aegis of Concerned Unpaid 2018 Contractors have staged a protest at the Ministry of Agriculture and Rural Development over unpaid liabilities by the ministry valued at N17 billion.

Contractors shut down ministry over N17 billion debt

Contractors under the aegis of Concerned Unpaid 2018 Contractors have staged a protest at the Ministry of Agriculture and Rural Development over unpaid liabilities by the ministry valued at N17 billion.

Edo guber: Osagie Ize-Iyamu obtains APC nomination form

A front line aspirant in the Edo State Governorship Race, Pastor Osagie Ize Iyamu, on Wednesday obtained the nomination form of the All Progressives Congress (APC), in Abuja.
Lagos State Government Coronavirus (Covid-19) Isolation Centre

Lagos records five new coronavirus deaths

Five patients have died of coronavirus-related complications in Lagos State.
A man drinks coffee outside a cafe in Tunis, Tunisia, on May 26, 2020. After a lockdown of more than two months, Tunisia on Tuesday conditionally reopened cafes and restaurants as part of its partial lifting of the anti-coronavirus restrictions.

Tunisia reopens cafes, restaurants as pandemic winds down

After a lockdown of more than two months, Tunisia on Tuesday conditionally reopened cafes and restaurants as part of its partial lifting of the anti-coronavirus restrictions.
US President Donald Trump speaks during the daily briefing on the novel coronavirus, which causes COVID-19, in the Brady Briefing Room of the White House on April 17, 2020, in Washington, DC. (AFP-Jim Watson)

Twitter issues fact check of Donald Trump tweets for first time

Twitter issued a fact check of some of Donald Trump’s tweets on Tuesday, marking the first time the U.S. president’s favoured social media platform has pushed back against him spreading falsehoods.