The Chairman of the Federal Inland Revenue Service, Babatunde Fowler, has dismissed reports suggesting that money paid as taxes is missing from the agency’s coffers.
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An indigenous company, Biatemp Ventures Ltd. has sued First Bank of Nigeria and the Federal Inland Revenue Services, demanding N25 billion special and general damages over alleged manipulation of its domiciliary account and illegal withholding of its tax clearance certificate.
The Federal Inland Revenue Service says it is determined to recover all revenue accruable to the Federal Government.
The Federal Inland Revenue Service says it is partnering the National Lottery Regulatory Commission on Value Added Tax payment automation for the lottery and gaming sector to boost revenue generation.
The Federal Government has announced plans to charge Value Added Tax on lottery and gaming activities and automate collection from operators in the Lottery Sector.
The Federal Government has announced plans to charge Value Added Tax on lottery and gaming activities and automate collection from operators in the Lottery Sector.
The Executive Chairman, Federal Inland Revenue Service, Tunde Fowler, has stated that Value Added Tax is primarily designed to support poor Nigerians and not to create hardship for them, as it is charged on consumption and capacity to consume.
The Federal Inland Revenue Service on Tuesday apologised to the Tax Appeal Tribunal sitting in Abuja for the delay in serving processes on an appellant, Joseph Daudu (SAN), in the case of alleged N1.2 billion error in taxation.
The Federal Inland Revenue Service on Monday arraigned Fortless Global Concept Limited and Everyday Wine Shop and their representatives at the Federal Hight Court, Abuja on alleged tax evasion, obstruction of official duty and attack on staff of the FIRS on duty among other charges.
The Federal Inland Revenue Service said it generated N12.62 trillion revenue from tax in the last three years.
The Federal Inland Revenue Service has written to banks directing them to lift the lien on tax defaulters’ bank accounts for 30 days.
If the FIRS pools N5.3 trillion revenue, that will be the highest revenue ever generated by FIRS in history.
This was disclosed in a press release signed by Wahab Gbadamosi, Head of Communications and Servicom Department of the FIRS.
Ahmed, during a visit to the Nigeria Customs Service Headquarters on Friday in Abuja, stressed the importance of improving revenue generation to enable Nigeria to achieve its economic objectives.
The Federal Inland Revenue Services said it recovered about N3.63 billion by curbing Illicit Financial Flows between January 2017 and August 2018 in the country.
A statement, signed by Laolu Akande, Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, in Abuja, said Osinbajo made the announcement in Enugu.
Less than a month after it commenced its substitution of accounts of recalcitrant billionaire taxpayers, the Federal Inland Revenue Service has collected N12.66 billion in tax revenue.
A FIRS statement on Sunday in Lagos said that all banks in the country would do substitution on accounts for such identified taxpayers.
The Federal Inland Revenue Service will soon go after the bank accounts of defaulting taxpayers who are raking in billions in Nigeria and are not paying taxes, the Service’s Chairman, Tunde Fowler, has said.
Shittu made the assertion during a Stakeholders Conference organised by NIPOST on Friday in Lagos.