TAX - Hotmedia

Banks To Start Demanding Proof Of Tax Payment From Abuja Residents As Wike Implements FCT Tax Law

HotmediaOctober 25, 2023

by HotmediaOctober 25, 20230400

The Federal Capital Territory (FCT) Administration, under the leadership of Nyesom Wike, has moved to strengthen tax compliance and revenue generation by going after tax...

BUSINESS ECONOMY Finance LATEST

The FIRS’s Tax Collection Revolution By Salisu Na’inna Dambatta

HotmediaAugust 14, 2023

by HotmediaAugust 14, 20230243

It is akin to a revolution: welcome to the big paradigm shift in Nigeria’s tax collection. The shift is from consistently low, inadequate and below...

BUSINESS Finance LATEST

FIRS: Tax, The Untaxed And The Taxables – Dambatta

HotmediaJuly 31, 2023

by HotmediaJuly 31, 20230298

It is common truth that no country on earth, including Nigeria, is able to tax all the taxables, or even bring all the untaxed into...

BUSINESS Finance LATEST

FIRS Extends Due Date For Filing 2023 Companies Income Tax Returns

HotmediaJuly 10, 2023

by HotmediaJuly 10, 20230334

Companies that were unable to file their Companies Income Tax returns for the 2023 year of assessment (YOA) that fell due on the 30th of...

BUSINESS ECONOMY Finance LATEST

Tinubu Signs Executive Orders, Suspends 5% Excise Tax On Telecoms, Customs Tariff

HotmediaJuly 6, 2023

by HotmediaJuly 6, 20230559

In a bid to curb multiple taxation complained about by a cross section of Nigeria and the business class, President Bola Tinubu has signed four...

BUSINESS ECONOMY Finance LATEST

Nigeria Government Announces Plans To Collect VAT From Market Traders, Others

HotmediaJuly 3, 2023

by HotmediaJuly 3, 20230487

The Federal Government, through the Federal Inland Revenue Service (FIRS), has announced plans to collect Value Added Taxes from the informal sector through the VAT...

BUSINESS ECONOMY Finance

Tax Rights And Obligations: Two Sides Of The Same Coin

HotmediaJune 27, 2023

by HotmediaJune 27, 20230356

It is common knowledge that taxation plays a vital role in the economic development of every country whether developed, developing or under developed, and Nigeria...

BUSINESS ECONOMY Finance LATEST Uncategorized

Facelift To Nigeria As Tax-to-GDP Ratio Increases To 10.86 Percent

HotmediaJune 2, 2023June 2, 2023

by HotmediaJune 2, 2023June 2, 20230417

By Kelechi Okoronkwo For a long time, more than twelve years, Nigeria wore a “Lowest Tax-to-GDP (Gross Domestic Product) Ratio” in the whole world like...

BUSINESS ECONOMY Finance

FIRS: Nigeria’s Tax-To-GDP Ratio, 10.86% As At 2021

HotmediaMay 31, 2023

by HotmediaMay 31, 20230403

Nigeria’s Tax-to-GDP ratio which, in the last 12 years, hovered between 5% to 6% rose to 10.86% by the end of 2021. The new ratio...

BUSINESS ECONOMY LATEST

Muhammad Nami: Double Honour For The Nation’s Tax Czar

HotmediaMay 10, 2023

by HotmediaMay 10, 20230204

By Nkem Precious Esq The aphorism that there is no hiding place for the golden fish was practically manifested last week when the Executive Chairman...

ECONOMY BUSINESS

Why Nigerians Should Embrace Paying Taxes

HotmediaApril 17, 2023April 17, 2023

by HotmediaApril 17, 2023April 17, 20230254

In all societies – both ancient and modern, paying taxes has remained a means through which citizens reciprocate the government’s social services to them. Of...

ECONOMY BUSINESS LATEST

Taxes As Key To Nigeria’s Economic And Infrastructural Development – Musa Ilallah

HotmediaApril 11, 2023

by HotmediaApril 11, 20230148

To begin this discussion, it is imperative that we attempt to understand what taxes are all about. Taxation is defined as the imposition of compulsory...

ECONOMY BUSINESS LATEST

At United Nations ECOSOC, Nigeria Renews Call For Fair International Tax Practices

HotmediaApril 2, 2023

by HotmediaApril 2, 20230265

Nigeria has, again called on the United Nations and the International Tax Community to forge an inclusive, equitable, fair and universally beneficial international tax system...

ECONOMY BUSINESS LATEST

Why I Pay Taxes – Salisu Na’inna Dambatta

HotmediaMarch 13, 2023

by HotmediaMarch 13, 20230223

“As a villager, I loathed paying taxes, or what they called revenue, in our weekly open air market,” said Maitabo, the livestock trader who is...

ECONOMY BUSINESS

Taxes As Key To Nigeria’s Economic And Infrastructural Development

HotmediaMarch 1, 2023

by HotmediaMarch 1, 20230238

By Musa Ilallah To begin this discussion, it is imperative that we attempt to understand what taxes are all about. Taxation is defined as the...

ECONOMY BUSINESS

FIRS And It’s Historic N10.1 Trillion

HotmediaFebruary 13, 2023

by HotmediaFebruary 13, 20230148

When the music is good to our ears, we dance. And if we cannot dance, then we clap. Or we do both! This piece is...

ECONOMY BUSINESS LATEST

N10.1 Trillion Tax Revenue: FIRS Has Again Broken The Jinx

HotmediaFebruary 8, 2023

by HotmediaFebruary 8, 20230102

The Federal Inland Revenue Service (FIRS), government’s agency responsible for assessing, collecting and accounting for tax and other revenues accruing to the Federal Government of...

ECONOMY BUSINESS LATEST

Tax Harmonisation: FIRS Signs MoU With LIRS For Joint Tax Operations, Audit

HotmediaFebruary 7, 2023

by HotmediaFebruary 7, 20230148

he Federal Inland Revenue Service (FIRS) yesterday signed a Memorandum of Understanding (MoU) with the Lagos Internal Revenue Service (LIRS) where the two tax authorities...

ECONOMY BUSINESS LATEST

FIRS Breaks Its 2021 Record, Collects N10.1 Trillion In 2022

HotmediaJanuary 23, 2023

by HotmediaJanuary 23, 20230202

The Federal Inland Revenue Service (FIRS) has announced that it collected over N10 trillion in tax revenue in the year 2022, the highest tax collection...

LATEST BUSINESS ECONOMY

Tax Clearance Certificate, Now Available In “One Click” – FIRS

HotmediaJanuary 2, 2023

by HotmediaJanuary 2, 20230224

The Federal Inland Revenue Service (FIRS) has announced that taxpayers can now get their Tax Clearance Certificate in a single click via its flagship Taxpro...

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