FIRS waives penalties, interests on outstanding tax liabilities

December 3, 2023 Admin III 0

The Federal Inland Revenue Service, (FIRS), has approved a full waiver of penalties and interests on all outstanding tax liabilities subject to the payment of the full principal before December 31, 2023. The waiver was disclosed in a recent public notice signed by the Executive Chairman of FIRS, Zack Adedeji. The agency said the concessions, which align with Section 32 Read More

Obey Nigerian tax laws, FIRS chairman tells foreign shipping coys lifting crude oil

November 22, 2023 Benjamin Umuteme 0

The chairman, Federal Inland Revenue Service (FIRS), Zacch Adedeji, has charged non-domestic companies shipping crude oil from Nigeria to ensure strict compliance with the country’s tax laws in their operations. Adedeji gave the charge in Lagos at a workshop on taxation of non-resident shipping companies organised by FIRS in conjunction with Oil Producers Trade Section (OPTS) on Monday. He said Read More

We won’t increase taxes, FIRS boss Adedeji assures businesses

October 20, 2023 Benjamin Umuteme 0

Acting chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has allayed fears being expressed by corporate organisations that the resolve of FIRS to increase the country’s tax-to-GDP ratio to 18 per cent from 10.86 will lead to increase in taxes. According to a statement by Special Adviser on Media and Communication to the Ag Executive Chairman, FIRS, Dare Read More

I met N1.4bn, left N129bn in FIRS coffers – Nami

September 29, 2023 Benjamin Umuteme 0

The immediate past Chairman of the federal Inland Revenue Service (FIRS), Muhammad Nami, has insisted that he did not approve the sum of N11 billion after taking his pre-retirement leave as has been alleged by the Cable Newspaper. In a statement he personally signed, Nami said that the entire story was sensationally written with mischief that took the ordinary events Read More

FIRS trains board members on tax processes, digitalisation

September 27, 2023 Ibrahim Hamisu 0

The Federal Inland Revenue Service (FIRS) has trained hundred people on the importance of tax payment and use of digital means. The training session which took place in Kano weekend, had in attendance women and young people who were encouraged on the importance of digital means of tax payment and the responsibilities of the FIRS. In an interview with journalists, Read More

Nami shines as FIRS continues to rake in record trillions of naira

August 9, 2023 Musa Danladi 0

The Federal inland Revenue Service, FIRS, collected a total of N6.405 trillion in both oil (N2. 008 trillion) and non-oil (N4.396 trillion) against a target of N6.401 trillion. It broke the 2021 record as it raked in N10.1 trillion in 2022. And in the first half of 2023, the Muhammed Nami-led revenue agency generated about N5.5 trillion. Experts say that Read More

Nami shines as FIRS continues to rake in record trillions of naira

August 8, 2023 Musa Danladi 0

The Federal inland Revenue Service, FIRS, collected a total of N6.405 trillion in both oil (N2. 008 trillion) and non-oil (N4.396 trillion) against a target of N6.401 trillion. It broke the 2021 record as it raked in N10.1 trillion in 2022. And in the first half of 2023, the Muhammed Nami-led revenue agency generated about N5.5 trillion. Experts say that Read More

FIRS records N5.5trn ‘highest revenue collection’ in H1 2023

July 21, 2023 Admin III 0

By Benjamin Umuteme Abuja The Federal Inland Revenue Service (FIRS) has announced a total tax revenue collection of N5.5 trillion for the half-year period of January to June 2023. This is the highest tax revenue collection ever recorded by the Service in any first six months of a fiscal year. Executive Chairman of FIRS Mr. Muhammad Nami, stated this while Read More

More revenue as FIRS, LIRS team up for joint audit, investigations

June 9, 2023 Blessing Anaro 0

The Federal Inland Revenue Service (FIRS) and the Lagos Internal Revenue Service (LIRS) have signed a memorandum of understanding (MoU) to establish a joint audit and investigation team (JAIT). Speaking on the agreement, Muhammad Nami, executive chairman of FIRS, said the cooperation fosters sharing relevant information that would assist both parties in their tax administration and enforcement roles. This, he Read More

FIRS, Afropolitan stage tax workshop for journalists in Kaduna

April 6, 2023 AbdulRaheem Aodu 0

The Federal Inland Revenue Service (FIRS) and Afropolitan Media Limited have held the Kaduna state session of national sensitisation and capacity-building training programme on tax for media professionals in Kaduna. The workshop, whose topic was “Understanding the Rudiments and Importance of Taxation in Nigeria” was delivered by a tax consultant at Shehu Mohammed & Co, Mr. Ma’roof Ibraheem Ajibola. FIRS Read More

FIRS, HMRC UK sign capacity building pact

March 17, 2023 Benjamin Umuteme 0

The Federal Inland Revenue Service (FIRS) and the United Kingdom’s His Royal Majesty’s Revenue and Customs (HMRC) have signed a Memorandum of Understanding (MoU) aimed at building the capacity of the two tax authorities. According to a statement by the Special Assistant (Media & Communication) to the executive chairman of FIRS, Johannes Oluwatobi Wojuola, the agreement was signed Thursday in Read More

FIRS signs pact with LIRS on joint tax operations, audit 

February 7, 2023 Benjamin Umuteme 0

The Federal Inland Revenue Service (FIRS) has signed a Memorandum of Understanding (MoU) with the Lagos Internal Revenue Service (LIRS) that would ensure both bodies collaborate on joint tax audit, investigation and automatic exchange of information.  The MoU signing ceremony which took place at the State House, Marina, Lagos State, Monday was executed by the Executive Chairman, FIRS, Mr. Muhammad Read More

Nami and FIRS tax digitisation

December 24, 2022 Musa Khalid 0

Effective and efficient tax collection is at the forefront of economic recoveries, especially in economies where tax receipts contribute a substantial chunk of the nation’s income. The Nigerian tax question has lingered for ages with many entities evading tax due to weak tax legislations and a rather lackluster attitude towards enshrining global best practices. The Nigerian tax environment has existed Read More

Dialogue crucial for strengthening tax administration — Nami 

November 5, 2022 Benjamin Umuteme, Abuja 0

Tax dialogue, which provide a platform for exchange of diverse ideas on taxation, has been described as a tool for engendering tax compliance through collective ownership of the tax system, as well as a means to strengthening tax systems. Executive Chairman Federal Inland Revenue Service (FIRS), Muhammad Nami, made the assertion at the 2022 Kaduna State Tax Dialogue on Saturday.  Read More

Citizens’ Right to demand accountability subject to compliance with tax obligations – FIRS

October 8, 2022 Admin III 0

The moral right of citizens to demand accountability from the government on what their taxes have been used for, is dependent on when citizens have themselves heeded to their civil obligations to pay taxes. This was the position of the executive chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami, during the unveiling of the FIRS Service Charter recently Read More

Citizens’ right to demand accountability, subject to tax obligations’ compliance – FIRS

October 7, 2022 Benjamin Umuteme Abuja 0

The moral right of citizens to demand accountability from government on what their taxes have been used for, is dependent on when citizens have themselves heeded to their civil obligations to pay taxes. This was the position of the Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami during the unveiling of the FIRS Service Charter on Tuesday Read More

FIRS, Nami and Nigeria’s economic challenges

September 14, 2022 Sunday Gabriel 0

There is no doubt that the world economic outlook has darkened significantly for some obvious reasons – even developed economies are being threatened. In fact, countries are tottering on the edge of a global recession. Given the severity of the economic situation, the Bretton Woods institutions such as World Bank and the International Monetary Fund, IMF have issued warnings to Read More

Indians sabotaging, destroying our economy, Dilcon Plastics boss alleges…Fingers EFCC, FIRS staff

September 9, 2022 Muhammad Tanko Shittu 0

The chairman/chief executive of Dilcon Plastics, Hon. Leonard Dilcon, has accused some Indian expatriates of sabotaging the efforts of local manufacturers in Nigeria. Mr. Dilcon, who declared this at a press briefing held Friday in the boardroom of Dilcon Group of Companies, said his life was being threatened. “The Nigerian economy is being sabotaged, and destroyed by some Indian expatriates. Read More

NLNG receives road infrastructure tax credit certificate for Bonny – Bodo road from FIRS

August 21, 2022 Benjamin Umuteme Abuja 0

The Nigeria Liquefied Natural Gas Limited (NLNG), one of the companies undertaking the construction of roads under the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, received its Tax Credit Certificate from the Federal Inland Revenue Service (FIRS), for the construction of the Bonny – Bodo Road, in Rivers State last week. A statement by Special Assistant (Media & Read More

FIRS and Nami’s magic wand

August 15, 2022 Umar Hayatudeen 0

An American lawyer and politician, Jerry Moran, once said, “Perfection has to do with the end product, but excellence has to do with the process.” Without a doubt, the whole world has been afflicted and distressed with glaring economic and security challenges; the Covid -19 pandemic, political instability, the ongoing Ukraine-Russian war and other uprisings are grave setbacks whose ripple Read More

FIRS set to begin nationwide tax compliance monitoring

June 11, 2022 Benjamin Umuteme, Abuja 0

The Federal Inland Revenue Service (FIRS) has stated that it would embark on a nationwide Value Added Tax (VAT) and Withholding Tax (WHT) compliance exercise from July, 2022.  This information is contained in a public notice announcing the compliance monitoring exercise, and signed by the FIRS Executive Chairman, Muhammad Nami. A statement by Special Assistant (Media & Communication) to the Read More

FTZs incentives: FIRS’ new tax pact to boost understanding, end suspicion’

June 10, 2022 Benjamin Samson 0

The managing director, Nigeria Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba, has clarified that the new tax pact with the Federal Inland Revenue Service (FIRS) was aimed at enhancing better understanding of the Free Trade Zones Scheme’s tax-exempt index “so as to end the long years of unbridled suspicion over its implementation.” According to a press statement issued Thursday Read More

Osinbajo drums support for FIRS digitisation plan

May 19, 2022 Benjamin Umuteme 0

The Chartered Institute of Taxation of Nigeria (CITN) has been urged to support the Federal Inland Revenue Service (FIRS) in its drive towards full digitalisation of tax administrative processes. Vice President Yemi Osinbajo made this call in his speech at the Chartered Institute of Taxation of Nigeria’s (CITN) 24th Annual Tax Conference held at the International Conference Centre, Abuja. The Read More

NCC, FIRS inaugurate joint committee to boost revenues in telecoms sector

May 12, 2022 David Agba 0

The Nigerian Communications Commission (NCC) and the Federal Inland Revenue Service (FIRS) have taken their collaboration a notch further by setting up a Joint Committee of senior and management staff of the two agencies towards the implementation of inter-agency strategies for enhancing national revenues in the telecommunications sector. The NCC’s Executive Commissioner, Stakeholder Management, Adeleke Adewolu, inaugurated the 17-member committee Read More