FIRS

Recovery Of Unremitted Tax Deductions Initiated By FIRS

June 1, 2022 1:34 pm

The Federal Inland Revenue Service (FIRS) has said it will commence the process of enforcement and recovery of unremitted tax deductions owed by some States and Local Governments in Nigeria.

This decision is contained in a Public Notice, signed by its Executive Chairman, Muhammad Nami, where the tax authority noted that most States and Local Governments have failed to remit the Service Withholding Tax (WHT) and Value Added Tax (VAT) deductions from payments made to contractors and service providers by them as required by law.

Read Also: Court Arraigns First Bank Staff For Diverting Customer’s Funds

A statement by the …

Tax Evasion: Tribunal Orders Multichoice To Pay FIRS ₦900bn

August 26, 2021 1:26 am

The Tax Appeal Tribunal sitting in Lagos has instructed Multichoice Nigeria Limited to pay the sum of ₦900 billion as a deposit to Federal Inland Revenue Service (FIRS).

This development was made known to newsmen on Wednesday through FIRS spokesman, Dr. Abdullahi Ahmad, who explained that the money was part of 50 percent of the ₦1.8 trillion which the revenue had determined through a forensic audit to be the amount in taxes that the company ought to have paid to the government.

Africa Daily News, New York understands that Multichoice – owners of DSTV – failed to pay its rightful …

FIRS Seeks To Introduce Road Infrastructure Funding Scheme

FIRS Generates ₦66bn From Stamp Duties In 5 Months

July 1, 2020 3:24 pm

The Federal Inland Revenue Service (FIRS) has generated the sum of ₦66 billion from stamp duties between January and May.

Mr Abdullahi Ahmad, the FIRS Director, Communications and Liaison Department made this known in a statement in Abuja on Tuesday.

Ahmad said the Executive Chairman of FIRS, Muhammad Nami, disclosed this at the inauguration of the Inter-Ministerial Committee on Audit and Recovery of Back Years Stamp Duties and the unveiling of the FIRS Adhesive Stamp in Abuja.

Nami said the money realised in the first five months of the year from stamp duties represented about 1,000 per cent increase.

He …

Senate President Reacts To Appointment Of New Emir Of Zazzau

Don’t Overburden Nigerians With Tax, Lawan Tells FIRS

July 1, 2020 6:30 am

President of the Senate, Ahmad Lawan, on Tuesday asked the Federal Inland Revenue Service (FIRS) to widen the tax net rather than overburden the people and business concerns.

Ola Awoniyi, his Special Adviser on Media in a statement in Abuja noted that Ahmad Lawan was the Guest Speaker at the inauguration of the Inter-Ministerial Committee on the Audit and Recovery of back years Stamp Duties.

The event was also Federal Inland Revenue Services (FIRS), formal launching of adhesive Stamp for Stamp Duties collection in Nigeria.

Read Also: We Must Tax The Rich Mercilessly – Aregbesola

“We should rather expand the

…

N90bn allegation: I will waive my immunity – Osinbajo

September 26, 2019 4:13 am

Vice-President Yemi Osinbajo has personally reacted to an allegation that he took N90billion from the Federal Inland Revenue Service to fund the 2019 general elections.

The allegation was made by a former Deputy National Publicity Secretary of the All Progressives Congress, Mr Timi Frank.

The VP said he would waive his constitutional immunity to pave the way for the “most robust adjudication” over the matter.

His Senior Special Assistant on Media and Publicity, Mr Laolu Akande, said on Wednesday that Osinbajo made the declaration in a tweet.

It reads, “In the past few days, a spate of reckless and malicious …