15 results
- 7 Jan 2021
FG Slams N50 Levy on Electronic Money Transfer of up to N10,000
The Finance Act 2020 recently signed into law by President Muhammadu Buhari, imposes N50 levy on electronic transfer of money deposited in any bank or financial institution on any account on sums of…
- 16 Feb 2019
FIRS Lifts Ban on Bank Accounts of Tax Defaulters
Federal Inland Revenue Service (FIRS) has written to banks, directing them to lift the lien on tax defaulters’ bank accounts for 30 days. The directive, which takes immediate effect, was…
- 30 Dec 2019
FIRS to Begin Issuance of 2020 Tax Clearance Certificate in January
The Federal Inland Revenue Service on Sunday said it would begin the issuance of 2020 Tax Clearance Certificate in January. This was disclosed in a statement signed by FIRS Executive Chairman,…
- 31 Dec 2019
FIRS Announces New TCC Regime
Federal Inland Revenue Service (FIRS) has announced a new Tax Clearance Certificate (TCC) regime. This was announced in a public notice signed by Mr. Muhammad Nami, chairman, FIRS. The Service also…
- 7 Jan 2021
Angst as FG Goes After N895Bn Unclaimed Dividends, Dormant Accounts’ Balances
The federal government has perfected ways to borrow funds from unclaimed dividends and dormant bank account balances unattended to for at least six years, thanks to the 2020 Finance Act, despite…
- 15 Feb 2021
StanChart Hosts Clients to CAMA and Finance Act 2020 Roundtable Discussion
Standard Chartered Bank Nigeria limited in conjunction with leading law firm, Udo Udoma & Belo-Osagie (UUBO) hosted clients, Global investors, Custodians, Bankers and Institutional investors to a…
- 5 May 2021
Tax Evasion: FIRS Plans Direct Deductions from Defaulters Bank Accounts
Federal Inland Revenue Service (FIRS) on Wednesday said it would begin direct deductions from tax defaulters’ bank accounts and other assets. The FIRS stated this in widely publicised notices signed…
- 15 Oct 2021
EU Partners FIRS to Deepen CSOs Tax Knowledge, Compliance
Determined to ensure accountability and transparency as part of its good governance drive in Nigeria, the European Union has engaged with the Federal Inland Revenue Service to deepen the knowledge of…
- 8 Dec 2021
Finance Bill Seeks Mandatory TIN to Operate Bank Accounts in Nigeria
The Finance Bill 2021, which is currently being considered by the senate, has made it mandatory for banks to demand the Tax Identification Numbers (TIN) from their customers. The Senate, on…
- 25 Nov 2024
NACCIMA Warns Against Arbitrary Taxation on Businesses
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture has expressed concerns over the long-term implications of arbitrary taxation on businesses and the nation’s economy.…
- 30 Jan 2025
Federal High Court Affirms $87.9m Fines, Interest Imposed on MTN By FIRS
Justice Ayokunle Faji of the Federal High Court in Lagos has upheld the penalties and interest amounting to $87.9 million imposed on MTN Nigeria Communication Plc by the Federal Inland Revenue…
- 23 Apr 2025
DMO Opens N350bn Bond Auction: Get Your Slice of the Pie
Debt Management Office (DMO) has announced the reopening of two Federal Government of Nigeria (FGN) bonds for public auction, with a total value of N350 billion, offering units at a subscription…
- 25 Aug 2016
Deloitte Backs NASME’s ‘Tax Amnesty for MSMEs’ Proposal
Deloitte Akintola Williams “Deloitte” has supported Nigerian Association of Small and Medium Enterprises (NASME) advocacy for Micro, Small & Medium Enterprises (MSMEs) in the country to be…
- 17 Feb 2026
DMO Offers ₦800bn FGN Bonds in February Auction Surge
Debt Management Office (DMO) plans to raise ₦800 billion through Federal Government of Nigeria (FGN) bonds in February 2026, a 128.6% jump from the ₦350 billion mobilised last year, highlighting the…
- 23 Nov 2016
FG Agrees to Reduce Income Tax for MSMES
‎The Federal Ministry of Finance said the federal government would propose a reduction in the income tax rate, as part of strategies to encouraging compliance by the operations of Micro, Small,…