Tax House
News & Updates
Check out the FIRS-approved Due Dates for Filing your Tax Returns and Paying your Taxes
Dear Taxpayer, below is a list of the approved due dates for paying your taxes and filing your tax returns, as released by the Federal Inland Revenue Service (FIRS): (A) i. Pay As You Earn (PAYE) Remittance: 10th of every month ii. Withholding Tax (WHT) and Value...
Update on UK’s Tax Cut Plans
In one of the latest developments on the tax cut saga in the United Kingdom, Jeremy Hunt, the recently-appointed Chancellor of the Exchequer, has scrapped “almost all” the tax cuts earlier announced some weeks ago. This is according to Aljazeera Media Network on its...
Debt Burden: Nigeria can Really Borrow Less if it Does These Two Things
The Minister for Finance, Budget and National Planning, Zainab Ahmed, has stated that Nigeria can really reduce its debt burden, if there are more taxes and revenue leakages are blocked. According to the Guardian Newspaper on its website, the Minister stated this at a...
FIRS Chairman receives Public Service Award
President Muhammadu Buhari, at the maiden edition of the Nigeria Excellence Award in Public Service, recently, awarded Muhammad Nami, the Executive Chairman of the Federal Inland Revenue Service (FIRS), the award for Excellence in Public Service. Mr. Nami, alongside...
Online Gaming Operators to begin Payment of Taxes Directly to FIRS
A recently-released statement by Mr. Johannes Oluwatobi Wojuola, Special Assistant to the Chairman of the Federal Inland Revenue Service (FIRS), has made it known that the FIRS has begun deduction of taxes from online gaming platforms directly at transaction points....
Sudanese Military Government Raises Taxes
Despite the economic regression in Sudan, the military government has increased taxes. This is according to a report by Africa Tax Review, an online platform that follows tax updates in Africa. According to this platform, a report released in mid-October, 2022, called...
On Unpaid Taxes and Seized Chicken Feed in Uganda
As a clampdown on the tax-evasive actions of some importers of raw materials used for making poultry and animal feeds in Uganda, the Uganda Revenue Authority (URA) has seized some inbound trucks carrying these raw materials. This is according to Africa Tax Review on...
Popular Telecommunications Company to Withhold VAT for FIRS
According to a report by Africa Tax Review, an online platform covering tax reports on the African continent, MTN Nigeria Communications Plc (MTNN) will commence the withholding of VAT due Nigeria’s apex tax authority, the Federal Inland Revenue Service (FIRS), as...
Agric Investors get new Tax Incentives
Investors in Nigeria’s agricultural sector are in for a treat as various incentives have been put in place for them by the Federal Government. One of such is a five-year tax break, according to The Nigeria Lawyer, an online news media. Minister for Agriculture and...
Redesigning of the Naira: FG not in Agreement with the CBN?
According to the Vanguard newspaper on its website, following the Central Bank of Nigeria’s announcement that it was redesigning the 200, 500 and 1000 naira notes, the Federal Government has disagreed with the CBN. Recall that in the afternoon of Wednesday, October...
Here’s a Swift Lesson
On Friday, 21st October 2022, Taylor Swift released her tenth studio album, “Midnights”. Kelly Phillips Erb (Taxgirl®), of Bloomberg Tax’s “Tax Insights & Commentary”, offered some words of insight to tax and legal professionals about Swift’s well-informed sense...
Wike, FG and the Alleged VAT Injustice
The legal tussle between the Rivers State Government and the Federal Government on collection of Value Added Tax has once more been brought to the fore, with Governor Wike’s recent enjoining of the Supreme Court to speedily give a ruling on the case, according to...