Browsing Tag

FIRS

FIRS says CSOs need to register for tax, obtain TIN

Franca Ofili Sep 17, 2021 0

The Director, Tax Policy and Advisory Department, Federal Inland Revenue Service (FIRS), Mr Temitayo Orebajo, says all Civil Society Organisations (CSOs) are expected to register for tax purposes and obtain Taxpayer Identification Number…

Features

VAT: Appeal Court orders Rivers, FIRS to maintain status quo

Wandoo Sombo Sep 10, 2021 0

The Court of Appeal, Abuja Division, on Friday ordered the Rivers Government, the Federal Inland Revenue Service (FIRS) and the Attorney-General of the Federation to maintain status quo, pending the hearing and determination of applications…

Economy

FIRS engages banks to freeze, recover N1.8trn from 2 Multichoice companies

Mustapha Sumaila Jul 8, 2021 0

The Federal Inland Revenue Service (FIRS) has engaged some commercial banks as agents to freeze and recover N1.8 trillion from accounts of Messrs MultiChoice Nigeria Limited (MCN) And MultiChoice Africa (MCA).This is contained in a…

Economy

FIRS generates N650bn revenue in June

Mustapha Sumaila Jul 7, 2021 0

The Federal Inland Revenue Service (FIRS) says it has generated N650 billion revenue in June.The Director, Communications and Liaison Department, FIRS, Mr Abdullahi Ahmad, disclosed this in a statement in Abuja on Wednesday.Ahmad…

Government

Tax Audit Units Created to Address Illicit Financial Flow – FIRS

Mustapha Sumaila Jan 11, 2021 0

The Federal Inland Revenue Service (FIRS) has created 35 additional Tax Audit Units across the country to address illicit financial flow. Mr Abdullahi Ahmad, Director, Communications and Liaison Department of the service, made…

Finance

FIRS generates N4.17trn in revenue in 10 months

Rukayat Moisemhe Dec 5, 2020 0

The Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, on Friday said that a total of N4.178 trillion was generated in taxes from January to October. 2020.Nami, represented by Mr. Ezra Zubairu, Coordinating Director,…

Government

FG’s Earnings Reduce by 60%, Amidst Low Oil Prices – Minister

Ismaila Chafe Nov 17, 2020 0

Minister of State for Petroleum Resources, Mr Timipre Sylva, says Federal Government’s earnings, from oil and non-oil sectors coupled with low revenue receipts from the Federal Inland Revenue Service (FIRS), have dropped by 60 per…

Government

EFCC Confirms Arrest of Former FIRS Chairman Fowler

Philomina Attah Nov 2, 2020 0

The Economic and Financial Crimes Commission (EFCC) has confirmed the arrest of Mr Babatunde Fowler, former Chairman of the Federal Inland Revenue Service (FIRS).“He was invited by the Commission and responded today,” EFCC…

Government

FG tenders apology over misinformation on Re-registration order

Adefemola Akintade Sep 18, 2020 0

Following the outrage on Nigerian social media, the Federal Government, FG, has tendered an apology for asking citizens to register their bank details in their respective financial institutions again or risk paying heavy fines.The news…

Finance

Self-Certification Forms: FIRS Clarifies Statement After Outrage

John Ogunsemore Sep 18, 2020 0

The Federal Inland Revenue Service (FIRS) has clarified a series of tweets on the Nigerian government's official Twitter handle which required customers of financial institutions to submit self-certifications forms to operate their accounts…

Government

FIRS Inaugurates AEOI-CRS System for Financial Institutions

Mustapha Sumaila Sep 6, 2020 0

The Federal Inland Revenue Service (FIRS) says it has inaugurated a new Automatic Exchange of Information-Common Reporting Standard (AEOI-CRS) system for the use of financial institutions in the country. FIRS Director,…

Economy

Revenue Problem in Nigeria: Finance Act 2019 as Strategic Way to Improve the Revenue

Bello Idris Opeyemi Aug 13, 2020 0

The use of digital economy in Nigeria ought not to be a problem as it is being used in other countries, but lack of trust and corruption in Nigeria has made people doubt whether it would improve revenue - but Amended of the Finance Act 2019…

Government

Nigerians mock FIRS, NIPOST for fighting dirty on Twitter

Adefemola Akintade Aug 5, 2020 0

Federal Inland Revenue Service (FIRS) and Nigeria Postal Service (NIPOST) have engaged in a war of words over stamp duties charge on TwitterNigerians are having a field day mocking the two government agencies in a social media fight.…

Government

NIPOST operated illegal accounts – FIRS fires back over theft allegations

Adefemola Akintade Aug 4, 2020 0

Federal Inland Revenue Service (FIRS) has reacted to the mandate theft allegations levelled by Maimuna Abubakar, Chair of the board of Nigeria Postal Service (NIPOST).The Herald on Monday reported that NIPOST Boss launched a barrage of…

Government

See why NIPOST Boss, Maimuna Abubakar accused FIRS of hijacking business

Adefemola Akintade Aug 3, 2020 0

Maimuna Abubakar, Chairman of Board of Nigerian Postal Services (NIPOST) has launched a barrage of accusations against Federal Inland Revenue Service (FIRS).It appears both government agencies are fighting for supremacy for the sales of…

Features

FG to Collect Stamp Duty on Tenancy Agreement, Certificate of Occupancy

Tony Abu Momoh Jul 2, 2020 0

Not content with the stamp duty imposed on Nigerians with Bank accounts across the country, the Federal Government has announced the imposition of another stamp duty on tenancy agreements and certificates of occupancy through the Federal…

Government

FIRS: Why House rent agreement, C of O, others will carry stamp duty onwards

Mustapha Sumaila Jul 2, 2020 0

The Federal Inland Revenue Service (FIRS) says henceforth, stamp duty will be paid on house rent and Certificate of Occupancy (C of O) in line with its new adhesive duty.Mr Abdullahi Ahmad, the FIRS Director, Communications and Liaison…

Business

FG Targets N1tn Revenue from Stamp Duties

Oladipupo Ehindero Jul 1, 2020 0

The Federal Government (FG) has urged the Federal Inland Revenue Service (FIRS) to recover all stamp duties collected on its behalf but yet to be remitted by government agencies, banks and other companies.The Secretary to Government of…

Economy

Stamp Duties Generated N66bn Within 5 Months- FIRS

Mustapha Sumaila Jun 30, 2020 0

The Federal Inland Revenue Service (FIRS) has generated the sum of N66 billion from stamp duties between January and May.SEE ALSO: Borno Govt. Fulfils Criteria for World Bank Grant of $22mMr Abdullahi Ahmad, the FIRS Director,…

Politics

FIRS Allegedly Disengage Staff Employed by Babatunde Fowler

Tony Abu Momoh Jun 3, 2020 0

Hundreds of Staff members of the Federal Inland Revenue Service (FIRS) employed during the latter stages of the tenure of its former Chairman, Babatunde Fowler have allegedly been disengaged from service.According to a report by Punch,…

Economy

FIRS Denies Removal Of Directors Based On Tribal, Religious Sentiments

John Ogunsemore May 29, 2020 0

The Federal Inland Revenue Service (FIRS) says allegations of tribalism and ethnicity in the agency are untrue.Executive Chairman, Mr Muhammad Nami, disclosed this in a statement signed by the FIRS Director of Communication and Liaison,…

Government

FIRS Appoints New Directors, Retires Others

Mustapha Sumaila Mar 25, 2020 0

The Board of Federal Inland Revenue Service (FIRS) has approved the appointment of four Coordinating Directors (CD) and two Group Leads (GL) in an acting capacity and retired some directors.Mr Abdullahi Ismaila, Director,…

Health

No Staff Tested Positive to Covid-19 -FIRS

Mustapha Sumaila Mar 21, 2020 0

The Federal Inland Revenue Service (FIRS) on Saturday debunked rumours that its staff has tested positive to coronavirus.SEE ALSO: Court ends 30 years marriage of 88-year-old man over promiscuityMr Abdullahi Ismaila, Director,…

Government

COVID-19: FIRS Unveils Automated System to Block Funding Gaps

Mustapha Sumaila Mar 18, 2020 0

The Federal Inland Revenue Service (FIRS) has unveiled a new Electronic and Automated platform for taxpayers to file transfer pricing declaration and disclosures with a view to blocking leakage in tax collection in the country.…

Politics

FIRS, Lagos Govt. to tackle Non-payment of Taxes

Florence Onuegbu Feb 18, 2020 0

The Federal Inland Revenue Service (FIRS) and the Lagos State Government will collaborate to tackle non-payment of taxes by individuals and companies. SEE ALSO: Waitress in Court for Allegedly Cooking Noodles with Marijuana for Friend…

Economy

FIRS Inaugurates Intelligence System to Track Tax Evaders

Mustapha Sumaila Feb 12, 2020 0

The Federal Inland Revenue Service (FIRS) has inaugurated a National Intelligence Gathering System to gather data and track tax evaders and defaulters across the country.SEE ALSO: NAF Destroys ISWAP Logistics Storage Facilities in…

Finance

Minister Of Finance- VAT Implementation Takes Effect Feb. 1

Nana Musa Jan 17, 2020 0

Mrs Zainab Ahmed, the Minister of Finance, Budget and National Planning says the implementation of Value Added Tax (VAT) increase from five per cent to 7.5 per cent will take effect from Feb. 1. SEE ALSO: Muslim Group Raises Alarm Over…

Government

Fowler Out As Buhari Appoints Muhammad M. Nami FIRS Chairman

Editor Dec 9, 2019 0

President Muhammadu Buhari has approved the composition of a new board for the Federal Inland Revenue Service, FIRS, subject to Senate confirmation. The appointment includes a new FIRS Chairman.The President nominated a renowned tax…

News

FIRS, First Bank Opted out of court settlement Over N25bn Damaged suit

Aderogba George Oct 30, 2019 0

Federal Inland Revenue Service (FIRS) and First Bank Plc have opted for out of court settlement in a N25 billion damages suit filed against them by an indigenous company, Biatemp Ventures Ltd over alleged account manipulation. …

Government

Weeks After PDP Allegedly Accused Osinbajo of Corruption, FIRS Building In Flames

David Oct 28, 2019 0

Few weeks after the Peoples Democratic Party (PDP) allegedly accused the vice president, Yemi Osinbajo, of corruption, the adquarters of the Federal Inland Revenue Service in Abuja was on Monday, October 28, engulfed in flames.A former…

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