Abia Governor cites surge in state revenues as proof that fair, transparent taxation can spur development when aligned with public trust and accountability.
Abia State Governor Alex Otti says taxation must serve as a tool for economic development rather than a mechanism of intimidation, arguing that transparent tax administration has helped his government nearly quintuple the state’s internally generated revenue in less than two years.
Speaking at the 37th convocation lecture of the Federal University of Technology, Owerri, Otti said Abia’s annual internally generated revenue has risen to nearly ₦100 billion—up from about ₦20 billion before he took office in …
US Treasury Secretary Steven Mnuchin is urging countries like France to suspend taxes on global computing giants such as Google and Amazon and wait for a negotiated agreement on international taxation, according to a letter released Wednesday.
As the United States is poised to impose tariffs of up to 100 percent on $2.4 billion in French products over that country’s digital services tax, Mnuchin said talks in the Organization for Economic Cooperation and Development are key to resolving the issue.
“We believe that it is very important that these talks reach agreement in order to prevent the proliferation of unilateral …
In a statement issued by the Special Adviser to the governor on Public Enlightenment, Prince Eze Ugochukwu in Owerri, yesterday, the decision was taken at the State Executive Council meeting held on November 6, 2019, following a motion by the Imo State of Internal Revenue Service to that effect.
“This ban is with immediate
Despite the shortfall, the state’s IGR was huge compared to what other states declared as IGR. The N382bn IGR is more than the IGR of 29 other states. Outside Rivers, Ogun, Delta, Kano, Kaduna and Edo, the rest 29 states had N363.48. In fact, the monthly IGR of Lagos is higher than what
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The Federal Inland Revenue Service (FIRS) has generated over ₦23 billion in unpaid taxes from the recently suspended substitution exercise on corporate bank accounts, which was marked by the imposition of restriction on the accounts of tax-defaulting organisations. This was disclosed in Lagos yesterday by the FIRS Chairman, Mr. Babatunde Fowler.
The FIRS boss made the disclosure at the Manufacturers Association of Nigeria (MAN) Interactive Forum on Tax Matters.
