The Federal Inland Revenue Service says it is working towards blocking about $10 billion tax leakages by multinational corporations operating in the country who engaged in illicit profit shifting.
Browsing: FIRS
Muhammad Nami, the Chairman, Federal Inland Revenue Service, says bringing the informal sector to the tax net will tackle budget deficit and increase revenue in the country and Africa.
Nami met with the Management and Staff of the Service and assured them that he would work with them to achieve President Muhammadu Buhari’s aim of appointing him.
The Senate on Wednesday confirmed the nomination of Muhammad Nami as the Executive Chairman, Federal Inland Revenue Services and 13 others as board members.
The Federal Inland Revenue Service, yesterday, served a 7-day notice to tax defaulters, with a warning that it will soon begin a nationwide tax enforcement to bring defaulters to book.
Though the initial amount allegedly released by the FIRS to the APC for the campaign was put at N90 billion, PRNigeria, an online publication, reported on Sunday that an outstanding N40 billion from the money was causing ripples in the Presidency.
All is not well within the Presidency, comprising of the office of the President and Vice President, over alleged misappropriation of N40 billion from the Federal Inland Revenue Service under the immediate past Chairman, Babatunde Fowler.
. The Buhari request to the Senate was sequel to the non reappointment of former FIRS boss, Babatunde Fowler, for a second term.
The Chairman of Senate Committee on Public Account, Senator Matthew Uroghide, gave the ultimatum while briefing newsmen on the failure of government agencies to present their audited reports to the lawmakers as mandated by the Constitution.
The group gave the commendation on Monday when members of its National Executive Council paid a courtesy visit to FIRS headquarters in Abuja.
It identified Babatunde Fowler who, as Chairman of the Lagos State Inland Revenue Service, had driven the process that saw the state internally generated revenue jump from a monthly average of N3.6 billion in 2006 to N25 billion in 2015.
Signed by Wahab Gbadamosi, Head, Communications and Servicom Department, the statement said the fire, which broke out at 5.10pm, affected the canteen located at Annex 1 of the headquarters where old and disused computers awaiting disposal are kept.
Wahab Gbadamosi, a spokesperson for the revenue office, stated that a “small fire outbreak by the store near the FIRS canteen, by Annex 1”.
Designated Non-Resident Persons Tax Office, the notice clarified that a non-resident person refers to a foreign company as defined in the Companies Income Tax Act (Cap C2, LFN 2004 as amended) or an individual (who is resident outside Nigeria and derives income or profit from Nigeria) as defined in the Personal Income Tax Act (Cap P8, LFN 2004 as amended).
The development was confirmed amid a brewing crisis in the Senate over allegations that the leadership had cornered all appointments meant for the 109 Senators in Federal Government Ministries, Departments and Agencies.
The suit, instituted by a legal practitioner, Stanley Okwara, was thrown out by the court on the ground that the lawyer has no locus standi to institute it.
Justice Aikawa gave the order while delivering judgment in the suit seeking to restrain the Attorney General of Lagos State from enforcing the Hotel Occupancy and Restaurant Consumption (Fiscalisation) Regulations Law (HORC), 2017, in the view that VAT Act has covered the field.
After hearing all the parties, including the preliminary objections and counter affidavits of the Defendants, the presiding Judge, Hon. Justice Lewis-Allagoa, adjourned the matter to October 11 for rulings and final judgment.
The position of CAN was contained in a statement by Pastor Bayo Oladeji, the media aide of the CAN President, Rev. Samson Ayokunle.
The presiding judge of the High Court, Justice Lewis Allagoa, after hearing a plaintiff’s counsel on September 23, 2019, also ordered that the defendant should be served in Abuja and file his defence within five days.