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FCT-IRS Extends Filing Of Annual Returns
…gives server failure as reason Ismaila Jimoh, Abuja Residents of the Federal Capital Territory who might have been having hitches towards filing of annual returns in the last few days due to FCT-IRS server failure can now make the payment
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AMAC Laments Sharp Practices in Tax, Revenue Collection
Mariam Sanni, Abuja The Abuja Municipal Area Council, AMAC, laments that it is battling against unscrupulous individuals hiding under its cover to extort money from businesses and residents under the guise of tax collection. The Chief Revenue Officer of AMAC,
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Experts, Stakeholders Canvass Tax Automation At FIRS’ Dialogue
By Mariam Sanni, Abuja The Federal Government has been advised to explore data and intelligence in order to ease tax collection and improve its revenue base. Tax experts, speakers, panelists and government functionaries gave the advice at the recently held
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FIRS Generates N4.9 Trillion, Meets 98% Tax Target In 2020
Mariam Sanni, Abuja The Federal Inland Revenue Service (FIRS) collected N4, 952,243,711,728.37 in total tax revenue in the year 2020. This was disclosed by the Executive Chairman of the Federal Inland Revenue Service, Mr. Muhammad Nami during a press conference
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Tackling Illicit Financial Flow, FIRS Creates New Audit Units
Mariam Sanni, Abuja In a bid to improve tax compliance and stem the tide of illicit financial flow within and outside Nigeria, the Federal Inland Revenue Service (FIRS) created 35 additional Tax Audit Units in the country last year. The Executive
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Tax Waivers Window Closes Dec 31, says FIRS
By Mariam Sanni, Abuja The Federal Inland Revenue Service (FIRS) has disclosed that the window of opportunity for “waivers of penalties and interest on outstanding taxes arising from desk examinations, audit exercises, investigations or all other forms of tax assessment”
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Special Feature: Imbibing Paying Tax As A Civic Duty
Nosa Eresoyen, Asaba Taxation is as old as modern civilization. In fact, it has often been described as the mark of civilization. The evolution of taxation has been traced by scholars to ancient Egypt (Pre-3000 BC to 300BC), where the
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VAT: Citizens To Swallow Bitter Pills
Despite the current economic challenges, the Federal Government last week Wednesday, proposed an increase in the Value Added Tax, VAT, a move believed by many would amount to more suffering for Nigerians and discouragement to investors. Experts have expressed divergent
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BREAKING: Court Seals Guaranty, Sterling Banks Over Non-Payment Of Tax In Enugu
By Chidozie Ogbonnaya A court in Enugu has locked up branches of Guaranty Trust Bank (GTB) and the two branches of Sterling Bank in the state over non-payment of tax on interest deduction due to the Enugu State Government for the period
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FG Reconstitutes Tax Appeal Tribunals
By Esther Bello The Federal Government has reconstituted the Tax Appeal Tribunals in the six geo-political zones as well as Lagos and Federal Capital Territory. The reconstitution of the Tribunals is in accordance with Section 2(1) of the Fifth Schedule
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