Tag: FIRS

FIRS unveils Gender Desk, Women’s Network to drive inclusion and equity

Lukman Laleye Babalola

In a major move to institutionalize gender inclusivity, the Federal Inland Revenue Service (FIRS) earlier this week officially launched the FIRS Gender Desk and the FIRS Women’s Network at a high-level event held in Abuja.   The Honourable Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, graced the occasion as the special guest and was warmly received by Dr. Dick Irri, Coordinating Director of the Medium and Government Taxpayers Group, who represented the Executive Chairman of FIRS, Dr. Zacch Adedeji. In his welcome address, Dr. Irri reaffirmed the agency’s commitment to…

FIRS directs Commercial Banks to close unauthorised collection accounts

Emporium Reporters

The Federal Inland Revenue Service (FIRS) has directed all commercial banks in Nigeria to immediately identify and close any tax and levy collection accounts not authorised under its TaxPro Max system.   The directive was announced in a public notice signed by the FIRS Chairman, Zacch Adedeji, and shared by his Special Adviser on Media, Dare Adekanmbi.   According to the notice titled “Directive to Close Unauthorised FIRS Tax Collection Accounts,” all tax and levy collections on behalf of the FIRS must now be processed exclusively through assessments raised on…

Federal High Court upholds $87.9 Million fine on MTN Nigeria imposed by FIRS

Emporium Reporters

A Federal High Court in Lagos has upheld the $87.9 million penalty imposed on MTN Nigeria Communications Plc by the Federal Inland Revenue Service (FIRS) in a landmark judgment delivered on Tuesday.   Justice Ayokunle Faji ruled in favor of the FIRS, setting aside a previous ruling by the Tax Appeal Tribunal (TAT), which had only awarded MTN a principal sum of $71 million in a tax dispute. The tribunal had refused to grant additional penalties and interest as requested by FIRS, leading the tax agency to appeal the decision.…

Zacch Adedeji @ 47: Celebrating A Man Of Exceptional Grace, Excellence | By Dare Adekanmbi

Emporium Reporters

Ecclesiastical evidence abounds to affirm that God does not look at people or issues through the same prism from which human beings perceive matters. As mortals, we give primacy to mundane parameters as appearance or outward adornments, height or whether the person is oozing opulence or simply look at nobility of a person’s birth before ascribing value or judgment to such a person.   The story of David’s ascension to the throne of Israel summarises howGod make His choices. Prophet Samuel beheld the firstborn of Jesse named Eliab and, looking…

The Unending Revenue Sharing War ,by Simon Kolawole

Emporium Reporters

Do you know that Jigawa can become the richest state in Nigeria? Don’t laugh at me and say “this guy has started again”. I will explain myself, but my central point remains that we have a mental block when it comes to understanding the wealth of a state. We have limited it to mineral resources and the sharing of the contents of the federation account by the Federation Account Allocation Committee (FAAC). We downplay many potential sources of revenue staring us in the face every day of the week and…

Tax Reform Bill Townhall: It’s Time to Grow Nigeria By Arabinrin Aderonke

Emporium Reporters

This is my take on the tax reform townhall that was broadcasted live on Channels TV. It couldn’t have come at a better time. This was more than just a panel discussion; it was a call to action, a chance to understand the changes that will affect every Nigerian.   Tax reform in Nigeria is no longer just a topic of debate. It is a defining moment for the future of Nigerians, a time in the development of our tax system, which has often been criticized for being inefficient, unfair,…

Parliamentary Monitoring Group seeks speedy passage of Tax Reform Bills ….. says Tinubu has good intentions for all Nigerians

Lukman Laleye Babalola

As the debates for and against the proposed Tax Reform Bills continue to heat up, a pro-democracy organisation, known as Parliamentary Monitoring Group (PMG), has assured Nigerians that President Bola Ahmed Tinubu meant well for all segments of the country, and that the Bills were designed to rescue the country from economic quagmire.   Dr. Adebayor Lion Ogorry, President of PMG in a statement on Monday, called on both chambers of the National Assembly to give the Tax Reform Bills speedy passage, as it is a matter of urgent national…

FEC vs. NEC: What Does Zaccheus Adedeji of FIRS Want? By Yushau A. Shuaib

Emporium Reporters

The recent submission of four executive bills to the National Assembly by President Bola Tinubu has sparked intense debate. President Bola Tinubu’s recent submission of four executive tax reform bills to the National Assembly has sparked heated debate. Central to the controversy is Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), whose clarifications on the reforms have yet to clear the air but intensified discussions.   At first glance, the four bills appear to serve distinct purposes: The Nigeria Tax Bill seeks to harmonise various tax laws to…

Ayinde Barrister, North and Tinubu’s VAT Bill By Festus Adedayo

Emporium Reporters

In a gripping but evergreen musical rendition of a Yoruba folklore, late Fuji music lord, Ayinde Barrister, once deployed the canvas of the forest to paint the inequality of the world. In his Fuji New Waves album, he also depicted the acrimonies that follow the sharing of jointly hunted games. What the anecdote tells us is that, if we listen to the unspoken voices of the forest, humanity may find answers to some of its knotty matters. The narrator and about eleven of his friends, had gone on a hunting…

Still on Tinubu’s economic tax reform By abiodun KOMOLAFE

Emporium Reporters

Nigeria’s tax reform is underway with four Executive Bills currently before the National Assembly. These bills are the ‘Nigeria Tax Bill’, which replaces existing tax law with a modern framework; the ‘Nigeria Tax Administration Act Amendment Bill’, which seeks to strengthen the enforcement powers of the Federal Inland Revenue Service (FIRS); the ‘Nigeria Revenue Service Bill’, establishing an independent revenue service; and the ‘Joint Revenue Board Establishment Bill’, for the purpose of fostering inter-agency collaboration. According to Zacch Adedeji, the FIRS Executive Chairman, the reform focuses on reducing the number…