In his 1986 address to the White House Conference on Small Business, former American President - Ronald Reagan said, “the government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And
On Thursday, February 20, 2014, the Presidency announced the suspension of the Governor of the Central Bank of Nigeria, Mr. Sanusi Lamido Sanusi, for what was described as financial recklessness in the management of apex bank. Few hours later, a detailed
Notwithstanding the decision in TSKJ II CONSTRUCES INTERNACIONALS UNIPESSOAL LDA vs FEDERAL INLAND REVENUE SERVICE (FIRS), Abuja Federal High Court, Suit No. FHC/ABJ/TA/11/12, the decision in Standard Trust Bank Plc v- Chief Emmanuel Olusola (2007) 9 CLR
The Lagos State Signage and Advertisement Agency (LASAA) was established by the Lagos State Structures for Signage and Advertisement Agency Law, 2006 and the Amendment thereto as the responsible agency for regulating and controlling outdoor advertising an
Being a Paper presented by Prince Rasaq Kunle Quadri, FCTI; President/Chairman of Council THE CHARTERED INSTITUTE OF TAXATION OF NIGERIA (CITN) titled THE HOLDING COMPANY MODEL: TAX IMPLICATIONS FOR NIGERIAN BANKS at the 4th Annual Banking & Finance Conf
Despite claims of surpassing revenue target by the Customs Service, Nigeria is said to have lost a whopping N90 billion ($550million) in revenue from tax evasion to the grey market operators in the automobile industry over the last four years, the Managin
Withholding Tax (“WHT”) is an advance tax payment which is deducted and withheld from any income or disbursement due to a taxable person or to a taxable corporation, for onward remittance to the relevant tax or government collecting authority, against a f
The attention of FIRS has been drawn to the misunderstanding of the concept of the “Consolidated Relief Allowance” as provided in section 33(1) of the Personal Income Tax (Amendment) Act, 2011 by a section of the tax payers.
Dangote Cement Limited on Tuesday sued Nigerian Government before a Lagos Federal High Court over a cement waiver granted to one of his major competitor in the cement manufacturing industry, Ibeto Cement Company.
The Chief Executive Officers of seven Lagos-based engineering,
telecommunications, cable television, and trading conglomerates were
arrested at the weekend by officials of the Federal Inland Revenue Service
(FIRS) over alleged non-remittance of various
The National Tax Policy seeks to provide a set of guidelines, rules and modus operand! that would regulate Nigeria's tax system and provide a basis for tax legislation and tax administration in Nigeria.
The Federal Inland Revenue Service has recovered more than N11.9billion tax arrears from five oil companies. The bulk of the money recovered came from Agip, which paid over $57.79million (N8.09billion). Halliburton just had to be on the list......