The House of Representatives is set to probe the alleged N1.8 trillion tax owed to the Federal Government by Multichoice Group, the operator of DSTV and GoTV. The resolution followed the adoption of a motion by Rep. Saidu Abdullahi(APC-Niger) at a plenary in Abuja on Wednesday. Moving the motion, he said that Multichoice, a prominent…
The federal government has outlined its plan to make use of technology to monitor revenue collection in real time. Zacchaeus Adedeji, Special Adviser to President Bola Tinubu on Revenue disclosed this during an interview on Channels Television. He said they will be integrating the activities of the Federal Inland Revenue Service (FIRS), Nigerian Maritime…
The Chairman of the Lagos State Parks and Garages Association, Musiliu Akinsaya, popularly known as Mc Oluomo, has intervened in the conflict involving commercial drivers and highway tax collectors who target commercial drivers, popularly known as agberos in the state. He has also banned collections of illegal taxes levied by agberos in some part of…
The federal government is set to implement five per cent inclusive excise duty on telecommunications services in Nigeria, a move that will make Nigerians pay 12.5 per cent tax on telecommunications services. Truetells Nigeria reports that the Minister of Finance Budget and National Planning, Zainab Ahmed made the announcement on Thursday July 28, at a…
Nigerians will now have to bear the weight of a new tax introduced by the federal government to fund free healthcare for the vulnerable in the country. Truetells Nigeria understands the tax known as telecom tax which will be charged on phone calls will provide a minimum of one kobo per second for phone calls to…
Corporate tax rates vary across the globe and reflect the unique economic needs of every country. Countries rich in natural resources, for example, often generate a bulk of their tax revenue from high corporate taxes on oil and natural gas companies, allowing other industries to operate in a relatively low-tax environment. While Africa has some…
The Muhammadu Buhari-led federal government has revealed that telecommunications giants, MTN, owes Nigeria two billion dollars. Truetells Nigeria reports that MTN has already agreed a payment plan with the Federal Inland Revenue Service (FIRS) to pay up the tax remittance. This was made known by the Minister of Finance, Budget and National Planning, Zainab Ahmed,…
Tertiary Education Fund (TETFUND) has commenced a revenue projection of N500bn from Education Tax in 2021. TETFUND, therefore, appealed to the Federal Inland Revenue Service (FIRS), to improve its collection strategies to surpass its earlier target of N277bn for 2021. The Chairman, Board of Trustees, TETFUND, Alhaji Kashim Imam, spoke on Tuesday in Port Harcourt,…
Senate Committee on Public Accounts on Wednesday said it had uncovered how $3.3 billion was missing from taxes collected by the Federal Inland Revenue Services and remitted to the Central Bank of Nigeria in 2015. The committee is probing the federation accounts from 2015 to 2018. CBN officials, led by Deputy Governor Edward Adamu, appeared…
