tax

Since the evolution of government, tax imposition on people has always been a vexatious issue, and revolt against taxes considered unjust had played significant roles in the collapse of empires like the Egyptian, Roman, Spanish and Aztec. Similarly, the Magna Carta, the American and the French...

Kenya is set to impose tax on street preaching, taking phone photos commonly known as selfies and hawking of food on the streets. The new taxes are being proposed by different counties in Kenya. In Siaya County, street preachers will pay KSh20,000 ($198) upfront per day to use … Read more...

Nigeria’s finance minister plans to drag tax defaulters who don’t make use of an amnesty to court as she seeks funds to plug the nation’s $25 billion infrastructure gap. In the nine months of reprieve ending March, some penitent taxpayers have said “you got me” and cleared arrears without paying...

Alex Wong/Getty Images Warren Buffett’s Berkshire Hathaway could be one of the biggest beneficiaries of tax reform, according to Barclays. Analysts estimate that its book value could rise by about $37 billion because of the lower corporate tax rate. The tax cut reduces Berkshire’s deferred tax...

30m Nigerians do not pay Tax – Adeosun. Minister of Finance, Kemi Adeosun Speaking at the first annual lecture of the Lagos State Professorial Chair of Tax and Fiscal Matters at the University of Lagos, Minister of Finance Kemi Adeosun disclosed..... via BellaNaija -http://ift.tt/2ADjge0 --...

The Federal Government has explained what seemed like a short-payment in the salaries of some Federal Civil Servants for the month of November, 2016. The Director, Integrated Personnel Payroll Information System (IPPIS), Mr. Murtala Oluwatoyin on Thursday explained that the perceived shortfall...

The Minister of Communication, Adebayo Shittu says a proposal by the Nigerian government to impose a 10 per cent tax on phone calls, text messages, data and more, would help enhance telecommunication services in the country. Mr. Shittu told the News Agency of Nigeria (NAN) on Friday in Osogbo...

What is Withholding Tax? Withholding Tax (WHT) is an advance payment of income tax. What is the Rate of Withholding Tax for companies and individuals on transactions? There are varying rates of WHT ranging from 2.5% to 10% for companies and 5% to 10% for individuals depending on the...

What is P. A. Y. E? P. A. Y. E. is an acronym for “Pay As You Earn”. It is a method of collecting personal income tax from employee`s salaries and wages through deduction at source by an employer as provided by the relevant sections of Personal Income Tax Act (PITA). (S.81 of Personal Income Tax...

The Federal Inland Revenue Service (FIRS) yesterday sealed the offices of construction giant Costain West Africa Plc, First Deepwater Discovery Limited, CAT Construction Group Limited and OPI International Limited, all in Lagos. Costain West Africa Plc alone is alleged to be owing N2bn in...

The Lagos State Internal Revenue Service (LIRS) says it has sealed 18 hotels for failing to remit N34.79 million hotel occupancy and consumption tax to the state government. Mrs Ajibike Oshodi-Sholola, Head, Distrain Unit of the LIRS on Friday said that in Lagos, not less than 65 percent of the...

David Cameron has finally admitted he did have a profitable stake in his father’s offshore investment fund in Panama, worth over £30,000. However, he said he sold it before he became prime minister. According to The Independent, the admission comes five days after the leak of a huge cache of...

Do you have a legitimate Tax Refund to claim from the Federal Inland Revenue Service? Below are processes and requirements for claiming your tax refund in a timely manner: 1. Address your application to: The Executive Chairman Federal Inland Revenue Service (FIRS) Revenue House 20 Sokode...

Coordinating Director, Osun State Ministry of Agriculture, Food Security and Youth Engagement, Dr Oluwabukola Aluko has announced that butchers operating in the state would henceforth pay levy to the government. Aluko, who made the announcement in a statement issued to newsmen on Wednesday in...

Experts have exposed the proposed communications tax bill before the 8th National Assembly, describing the bill as evidence that the Federal Government “isn’t sensitive to the plight of the people”. Executive Creative Director of Noah’s Ark, Mr. Lanre Adisa while lending its voice on the issue...

The House of Representatives Ad Hoc Committee on Rail Contracts, yesterday, uncovered 169 ghost companies that registered as contractors with the Nigeria Railway Corporation, NRC, for projects valued at N1 trillion. According to Vanguard, the ad hoc committee raised the alarm during the...

Millions of subscribers in Ondo State and its environs would likely experience negative impacts on the quality of MTN Nigeria services following the closure of its facilities by the state government. The telecoms operator said so in a statement issued by its corporate communications executive...

In face of the economic hardship and global crisis, various reports indicated that Nigeria has lost billions of dollars because of the 10-year tax break given to Shell, Total and Eni, three of the world’s biggest oil and gas companies. That staggering $3.3bn (£2.3bn) revenue loss, in a country...

The Lagos State Internal Revenue Service (LIRS) has sealed six companies for failure to remit N18.73 million personal income taxes of their workers to the state government on Wednesday. The Assistant Head of Distrain Unit of the LIRS, Mrs Oluwalomona Ekosanmi, disclosed this to the News...