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FIRS issues public notice on payment of outstanding taxes by tax collection agents
Posted by Iheonu Nkechi Gloria 3 years agoTax DiscussionThe Federal Inland Revenue Service (FIRS) recently issued a Public Notice reminding persons appointed as agents of tax collection by the relevant provisions of the Companies Income Tax Act (CITA ...
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What you need to know about Taxation of Digital Economy in Nigeria. Lessons From Audit Of Non-Resident Companies' Tax Returns In Nigeria
Posted by Iheonu Nkechi Gloria 3 years agoTax DiscussionIn 1993 the Federal Inland Revenue Service (FIRS) announced uniform basis and rate for taxation of income derived by Non-Resident Companies (NRCs) from carrying out businesses in Nigeria. FIRS indica ...
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FIRS issues guidelines on the applicability of VAT on financial services
Posted by Iheonu Nkechi Gloria 3 years agoTax DiscussionThe Federal Inland Revenue Service (FIRS) recently issued Information Circular No.: 2021/04 (&ldquo the Circular&rdquo ) to provide clarification on what will constitute a supply of taxable services b ...
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Managing Transfer Pricing Audits In Nigeria: Dos And Don'ts
Posted by Iheonu Nkechi Gloria 3 years agoTax DiscussionSince the introduction ofTransfer Pricing(TP) Regulations in Nigeria in 2012 theFederal Inland Revenue Service(FIRS) has not only focused on driving compliance with the TP Regulations but has also em ...
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Tax Revenue Generation Challenge In A Dwindling Economy – The Need For Constructive Compromise Within The Transfer Pricing Landscape In Nigeria
Posted by Iheonu Nkechi Gloria 3 years agoTax DiscussionThe recent increased focus on tax revenue as a complement to oil revenue is becoming evident from successive budgets of the Nigerian government. The Federal Government of Nigeria (FGN) has strived to ...
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PAYE Tax of Nigeria - Guide to taxation of employees.
Posted by Iheonu Nkechi Gloria 3 years agoTax DiscussionPersonal Income Tax is the charge on the income of individuals trustees and executors. In Nigeria the two key legislation are the Personal Income Tax Amendment Act 2011 (PITAM) and Finance ...
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Taxing Digital Transactions: What Are The Immediate And Future Imperatives?
Posted by Iheonu Nkechi Gloria 3 years agoTax Discussion21st Century businesses in traditional industries have transformed over time moving from regular &ldquo brick and mortar&rdquo models to operating in the digital space focusing on providing online ...
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FIRS issues Public Notice on deployment of automated tax administration solutions April 2021
Posted by Iheonu Nkechi Gloria 3 years agoTax DiscussionThe Finance Act (FA) 2020 introduced an amendment to the Federal Inland Revenue Service Establishment Act (FIRSEA) empowering the FIRS to deploy proprietary technology to automate the tax administrat ...
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Tax Audit and Investigation : What a Taxpayer Should Expect
Posted by Iheonu Nkechi Gloria 3 years agoTax DiscussionIntroduction The recent revenue drive arising from fall in oil prices and the need to diversify Nigeria s revenue away from oil to non-oil sources such as taxation has led to increase in the freque ...
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Tax Identification Number (TIN)
Posted by Iheonu Nkechi Gloria 3 years agoTax DiscussionFor you to pay tax in Nigeria you have to register with FIRS then you will be given a Tax Identification Number(TIN) What is a Tax Identification Number(TIN):It s a unique number given to you by t ...
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