Wednesday, September 26, 2018

Tag "FIRS"

    ‘Militants’ attack FIRS officials at Patience Jonathan’s hotel

‘Militants’ attack FIRS officials at Patience Jonathan’s hotel

Suspected militants numbering over 50 on Wednesday attacked officials of the Federal Inland Revenue Service (FIRS) at Aridolf Resort Wellness & Spa in Yenagoa, Bayelsa state.Patience Jonathan, former first lady, is the owner of the facility.The FIRS team was said to have gone to the hotel in respect of tax liabilities of over N10 million, but were attacked by the suspects [...]

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    Reps probe Federal Mortgage Bank over ‘non-remittance of N5.6bn’ to FIRS

Reps probe Federal Mortgage Bank over ‘non-remittance of N5.6bn’ to FIRS

The house of representatives has mandated its committees on finance, housing and urban development and region planning to investigate the alleged non-remittance of N5.6 billion by the Federal Mortgage Bank of Nigeria to Federal Inland Revenue Service (FIRS).The resolution of the house was sequel to motion sponsored by Ossai Ossai and Victor Nwokolo, both lawmakers from Delta state.Moving the motion [...]

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    Drive ICT, fill vacancies at FIRS, EFCC…Buhari’s plan to create 3.75m jobs in 2017

Drive ICT, fill vacancies at FIRS, EFCC…Buhari’s plan to create 3.75m jobs in 2017

The Economic Recovery and Growth Plan (ERGP) unveiled by the Muhammadu Buhari government on Tuesday, seeks to create 15 million jobs by 2020 and 3.75 million jobs in 2017.A breakdown in the plan shows that the government hopes to create jobs by filling up vacancies in ministries, departments and agencies of government, while also boosting agriculture and Information and Communications [...]

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    FIRS seals Diplomat Hotel over N351m tax debt

FIRS seals Diplomat Hotel over N351m tax debt

The Federal Inland Revenue Service (FIRS) on Tuesday sealed the Diplomat Hotel, located at 1, Shonnyway Street, Shonibare Estate, Maryland, Lagos, over a N351 million tax debt.Bukar Gana, head of the FIRS enforcement team, stated the hotel owes taxes between 2012 and 2016.The hotel customer care manager, who didn’t give his name, said they were “concerned about the debt”.Also in [...]

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    States bring fresh 3.4m Nigerians to tax net in 6 months

States bring fresh 3.4m Nigerians to tax net in 6 months

Babatunde Fowler, chairman of the Federal Inland Revenue Service (FIRS), says state tax authorities have added 3,414,496 million new taxpayers to the national tax register in six months.Speaking at the Transcorp Hilton in Abuja on Monday during the 136th meeting of the Joint Tax Board, Fowler revealed that the addition brings the total number of individual taxpayers in the country to [...]

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    FIRS: Very soon, tax defaulters won’t be able to renew their passports

FIRS: Very soon, tax defaulters won’t be able to renew their passports

Tunde Fowler, executive chairman of the Federal Inland Revenue Service (FIRS), says very soon, Nigerians may need to show evidence of tax payment before obtaining their international passports.He said this in Abuja during the 136th meeting of the joint tax board, which had the theme: 'Increased Inter-Agency Co-operation to Enhance Tax Compliance and Optimise Revenue Collection'.“We did take a position [...]

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    700,000 apply for 500 jobs at FIRS

700,000 apply for 500 jobs at FIRS

Tunde Fowler, chairman, Federal Inland Revenue Service (FIRS), on Wednesday revealed that the organisation received more than 700,000 applications from the recent job advert it placed.Fowler made this known in Abuja when he appeared before the house of representatives committee on public petition.The FIRS boss’ appearance at the lower chamber followed a petition from some applicants, who claimed to have [...]

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    FIRS shuts petroleum company over N31m unpaid taxes

FIRS shuts petroleum company over N31m unpaid taxes

The Federal Inland Revenue Service (FIRS) ramped up its tax enforcement drive when its teams shut down premises of companies with tax liabilities in Warri, Lagos and Ilorin.   In Warri, Delta State, the enforcement team visited two companies. At JAD Construction, along Enerhen Road, the FIRS team evicted all the staff before sealing off the premises for unremitted taxes in excess [...]

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    FIRS shuts down Lafarge, 5 companies over huge tax debts

FIRS shuts down Lafarge, 5 companies over huge tax debts

In a renewed crackdown on companies with tax liabilities, the Federal Inland Revenue Service (FIRS) on Monday shut down some defaulting companies in Port Harcourt, Lagos and Ibadan.In Port Harcourt, Rivers state, the FIRS enforcement team, led by Ruth Madeun, shut down two companies having a combined tax debt of N1.077bn.The companies are Lafarge Cement Limited and IGPES, both of [...]

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    HURRAY! FIRS grants partial amnesty to tax defaulters

HURRAY! FIRS grants partial amnesty to tax defaulters

The Federal Inland Revenue Service (FIRS) says it has granted a waiver of penalty and interest on tax liabilities to all companies between 2013 and 2015.In a public notice on Monday, Babatunde Fowler, the executive chairman of the FIRS, said the waiver only relates to accumulated penalty and interest but not principal tax due.Fowler said a 45-day window has been [...]

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    Fowler, FIRS chairman, elected president of African tax body

Fowler, FIRS chairman, elected president of African tax body

Babatunde Fowler, executive chairman of the Federal Inland Revenue Service (FIRS), has been elected president of the African Tax Administration Forum (ATAF).At the election, which held in Pretoria, South Africa, on Wednesday, Fowler polled 13 votes ahead of the four secured by his Togolese opponent.In his acceptance speech on behalf of Nigeria, Fowler pledged to expand the membership of the [...]

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    Fowler asks African leaders to grant autonomy to revenue agencies

Fowler asks African leaders to grant autonomy to revenue agencies

Tunde Fowler, executive chairman of the Federal Inland Revenue Service (FIRS), has appealed to leaders on the continent to grant autonomy to revenue authorities.Speaking at a seminar organised by the Tax Administration Forum and International Monetary Fund (ATAF-IMF) in Cape Town, South Africa, Fowler said the future of tax administration in Africa is bright.He said autonomy would enable revenue authorities [...]

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    Surviving airlines are only doing national service, says Arik

Surviving airlines are only doing national service, says Arik

Joseph Arumemi-Ikhide, chairman of Arik Air, one of Nigeria’s surviving airlines, says the policies of the Central Bank of Nigeria (CBN) do not favour local airlines.Arumemi-Ikhide, who prides himself as the founder of West Africa’s largest airline, also said Nigerian airlines "are just offering national service" as the fares are the lowest in the world.“Government policies, or central bank policies do [...]

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    FIRS ignores $100,000 ‘palliative’, seals off companies for millions of dollars

FIRS ignores $100,000 ‘palliative’, seals off companies for millions of dollars

The shut-down of tax defaulters by the Federal Inland Revenue Service (FIRS) continued on Wednesday, as FIRS enforcement teams visited companies in Lagos, Nnewi and Kaduna.In Lagos, the FIRS sealed off the office of Erin Petroleum Limited at Plot 1649 Olosa Street, Victoria Island.The company has a tax indebtedness of over $10million. The FIRS said the company’s promise to offset [...]

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    FIRS seals company in Onitsha over 10-year unpaid taxes

FIRS seals company in Onitsha over 10-year unpaid taxes

The Federal Inland Revenue Services (FIRS) on Tuesday, stepped up its tax enforcement duties, shutting company offices in Kano, Lagos and Onitsha for outstanding tax liabilities.In Kano, the FIRS enforcement team, led by Umar Garba, sealed off Sani Brothers Transport Company Limited, Triumph Nigeria Limited, Multi System Nigeria Limited and NorthWest Cable Manufacturers Limited.The companies are owing N12. 3million, N6.5million, N3.3million [...]

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    FIRS seals firms In Abuja, Lagos, Asaba over N715m unpaid taxes

FIRS seals firms In Abuja, Lagos, Asaba over N715m unpaid taxes

The Federal Inland Revenue Service (FIRS) tax enforcement exercise resumed on Monday in Lagos, Abuja, Asaba and Onitsha as firms were sealed for unpaid taxes.In Abuja, the first company sealed by the FIRS enforcement team, led by Chinazo Edeh, was Urban Shelter Limited, a property development firm, located in Shippers Plaza in the Wuse Zone 5 Area of Abuja.The company [...]

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Exchange Rates

September 24, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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