Sunday, April 7, 2019

Tag "FIRS"

    With N1.7trn in 6 months, FIRS records significant increase in 2017 revenue

With N1.7trn in 6 months, FIRS records significant increase in 2017 revenue

The Federal Inland Revenue Service (FIRS) says it collected a total of N1.782 trillion as tax revenue between January and July 2017.This is even as it has projected a total of N1.8 trillion value added tax (VAT) collection for the 2017 fiscal year.Tunde Fowler, FIRS executive chairman, made this known on Tuesday while presenting the agency's budget before the senate [...]

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    Fowler: If you earn N2m and your house is worth N50m, we’ll ask questions

Fowler: If you earn N2m and your house is worth N50m, we’ll ask questions

Babatunde Fowler, chairman of the Federal Inland Revenue Service (FIRS), says tax declaration should be consistent with the lifestyle of Nigerians.He said if someone says he or she earns N2 million and owns a house worth N50 million and a car worth N10 million, the tax agencies will ask questions.Speaking about the voluntary asset and income declaration scheme (VAIDS) on [...]

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    Remo Stars’ player, Ochowechi, wins goal of the week award

Remo Stars’ player, Ochowechi, wins goal of the week award

Salefu Ochowechi’s 19th-minute free kick against Gombe United is the most popular goal of the week, according to fans of the Nigeria Premier Football League (NPFL).The Remo Stars player was voted winner of the Match Day 22 VAT Wonder Goal award.Ochowechi was shortlisted alongside Mohammed Mohammed of ABS and Festua Umanah of Wikki Tourists.The trio scored fantastic goals but Ochowechi’s [...]

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    FIRS seals off companies In Port Harcourt over tax default

FIRS seals off companies In Port Harcourt over tax default

The Federal Inland Revenue Service (FIRS), on Tuesday, sealed off the premises of some tax-owing companies in Port Harcourt, Rivers state.One of the companies was Fejudam Services Limited, which owes a company income tax of N22.5million incurred between 2009 and 2015.Anita Erinne, leader of the FIRS enforcement team, showed a warrant of distraint to the officials of the company before ordering [...]

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    You can now pay taxes online as FIRS kicks off 24/7 operations

You can now pay taxes online as FIRS kicks off 24/7 operations

The Federal Inland Revenue Service (FIRS) has introduced six key electronic solutions (e-Services) to enhance convenience, transparency and round the clock processing and payment of taxes.Some of the e-Services, which could now be accessed online, are taxpayer registration (through e-Registration); payment of Stamp Duties (through e-Stamp Duty); payment of taxes (through online payment: e-TaxPay, Remita); receiving of electronic receipt after [...]

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    FIRS seals off 13 firms in Abia over tax default

FIRS seals off 13 firms in Abia over tax default

The Federal Inland Revenue Service (FIRS) has sealed at least 13 firms in Abia state over tax defaults.An enforcement team of the agency led by Ruth Mandeun stormed Umuahia, the state capital, on Wednesday with court warrants against defaulting firms.The task force had within two days of its operations in Umuahia metropolis, sealed 13 firms for default on tax arrears [...]

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    ‘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 a construction company in the state, 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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Exchange Rates

April 5, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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