Taxpayers who have outstanding foreign currency tax liabilities can now take advantage of the Federal Inland Revenue Service (FIRS) one-month window to settle these liabilities in Naira, with effect from the 1st of March, 2022, to 31st March, 2022, this is according to a Public Notice released by the Service and signed by the Executive…
PUBLIC NOTICE PAYMENT OF OUTSTANDING FOREIGN CURRENCY TAX LIABILITIES IN NAIRA In view of the number of requests, enquiries and the challenges encountered by the taxpaying public in sourcing for foreign currencies to offset outstanding tax liabilities, the Federal Inland Revenue Service (“the Service”) wishes to inform our esteemed taxpayers that a one-month window has…
The Federal Inland Revenue Service (FIRS) has stated that it would use the instrumentality of the Finance Act 2021, through collaboration with taxpayers and key stakeholders to ensure adequate funding of the country’s budget and raise the requisite financing for national development. This was stated by the Executive Chairman of the FIRS, Muhammad Nami, yesterday…
The Federal Inland Revenue Service has notified the taxpaying public of the introduction of “Self-Service Stations” in all the FIRS Tax Offices nationwide to support taxpayers in utilizing the TaxPro Max solution. To enhance voluntary tax compliance, the Stations will, among others, provide taxpayers the opportunity to carry out the following services online while in…
We will give priority to taxation of digital economy … The Federal Inland Revenue Service (FIRS) has stated that it will achieve 100% automation of all its tax administration processes with the aim of blocking revenue leakages thereby revolutionizing revenue generation in Nigeria. Calling for the cooperation of Nigerians to achieve this, the Executive Chairman…
The federal government says non-resident companies (NRC) are mandated to remit 6% of turnover from digital services provided to Nigerian customers. An NRC is a company not registered or incorporated in Nigeria but makes profits or income from Nigeria. They include Amazon, AliExpress, Twitter, Zoom Inc. and others. Zainab Ahmed, minister of finance, budget and national…
