The Road Infrastructure Tax Credit Scheme has been described by the Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami as one of the greatest innovations of the Federal government in its resolve to tackle Nigeria’s infrastructure deficit. The scheme which provides for public-private partnership intervention in the construction, refurbishment and maintenance of…
Presented by the Executive Chairman of FIRS at the Tax-ADR Workshop held on 19th May 2022. INTRODUCTION The goal of this presentation is to provide practical guidance and improve the understanding of certain aspects of the domestic dispute resolution mechanisms as it relates to tax with reference to FIRS experience. These include both mechanisms that…
The Nigeria Liquefied Natural Gas Limited (NLNG), one of the companies undertaking the construction of roads under the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, received its Tax Credit Certificate from the Federal Inland Revenue Service (FIRS), for the construction of the Bonny – Bodo Road, in Rivers State last week. The certificate…
On repeated occasions, the Federal Inland Revenue Service (FIRS) has cautioned the general public to be vigilant and circumspect not to deal with scam artists who pose as recruitment agents for the Service and collect huge sums of money from unsuspecting victims with the promise to provide them employment. Again, the Management of the FIRS…
The Nigeria Export Processing Zones Authority (NEPZA) and the Federal Inland Revenue Service (FIRS) have agreed to adjust some sections of the recently signed Memorandum of Understanding (MoU) on the efficient management of the free trade zones tax system in order to accommodate salient concerns of the stakeholders. Recall that the agencies on June 7…
Visits to include MDAs, NGOs, other corporate bodies… The Federal Inland Revenue Service (FIRS) has stated that it would embark on a nationwide Value Added Tax (VAT) and Withholding Tax (WHT) compliance exercise from July, 2022. This information is contained in a public notice announcing the compliance monitoring exercise, and signed by the FIRS Executive…
The Managing Director of the Nigeria Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba has said that the new tax pact with the Federal Inland Revenue Service (FIRS) was aimed at enhancing better understanding of the Free Trade Zones Scheme’s tax-exempt index so as to end the long years of unbridled suspicion over its implementation….
Prof. Adesoji Adesugba, MD NEPZA and the Executive Chairman of FIRS, Mr Nami Muhammad display agreement after signing MoU on new Tax Schedule for the Free Trade Zones Scheme today in Abuja.
The Federal Inland Revenue Service (FIRS) has stated that it will commence the process of enforcement and recovery of unremitted tax deductions owed by some States and Local Governments in Nigeria. This decision is contained in a Public Notice, signed by its Executive Chairman, Muhammad Nami, where the tax authority noted that most States and…
Press Release- FIRS-Nigeria’s cautious approach to the endorsement of the Organization for Economic Cooperation and Development (OECD)/ G20 Inclusive Framework two-pillar solution to the taxation of the digital economy is in the best interest of the country, and to ensure that Nigeria does not lose out on potential revenue from the digital economy. This was…
