Business

The Federal Inland Revenue Service (FIRS) has stated that there is need for improved collaboration among countries and international stakeholders with the aim of exploring alternative rules that will enable market jurisdictions, particularly African countries, to effectively subject digital businesses to tax. This was stated during a presentation by the Executive Chairman of the FIRS, Muhammad Nami last week, Friday at a Technical Assistance Programme organized by African Tax Administrators’ Forum’s (ATAF) with the theme “Member’s Needs and How To Broaden the Collaboration,” held in Lomé, Togo. Mr. Muhammad Nami in his presentation noted that although some African countries had…

President Muhammadu Buhari on Tuesday in Abuja expressed his administration’s commitment to an efficient tax administration in order to improve tax revenue in the country. Declaring open the second National Tax Dialogue Week, the President expressed concern at the current tax system in the country, characterised by fragmented administration, multiple and sometimes, overlapping taxes. ''In most tax-efficient nations, tax administrative processes and practices are harmonised within a single system. ''One key deliverable of this year’s tax dialogue is to promote synergy in tax administration among the different tiers of government. ''Harmonising taxpayer identification across the country is a good start;…

Soludo Suspends All Revenue Contracts For Onitsha Markets, Parks, Others. The former Central Bank of Nigeria governor said this on Thursday during his inauguration as the governor of the state. The newly sworn-in Governor of Anambra State, Chukwuma Soludo, has banned the activities of revenue collectors in the state. The former Central Bank of Nigeria governor said this on Thursday during his inauguration as the governor of the state. Soludo said, “As a new order, many unproductive system will give way. There will be new and better ways of managing our parks, managing our markets, different and better ways of…