December 26, 2024
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President Tinubu vows to end Nigeria’s overreliance on borrowing for public expenditure

By The Insight Team 179
… sets 18% Tax to GDP target in 3 years President Bola Tinubu on Tuesday in Abuja expressed his resolute commitment to break the vicious cycle of overreliance on borrowing for public spending, and the resulting burden of debt servicing it places on the management of Nigeria’s limited government revenues. Inaugurating the Presidential Committee on […]Continue Reading
Business

Multiple Taxation: FIRS Partners With Market Traders Association of Nigeria (MATAN) For VAT Remittance From Informal Sector

By The Insight Team 180
The Federal Inland Revenue Service (FIRS) has partnered with the Market Traders Association of Nigeria (MATAN) to collect and remit Value Added Tax (VAT) to the FIRS from the country’s markets, especially in the informal sector. The Association which has a membership of well over 40 million traders across the country’s 774 local governments, and […]Continue Reading
Zenith Bank, Cross Rivers, Nigeria, Banking, Economy

Muhammad Nami, Executive Chairman, FIRS Wins ICAN Merit Award

By The Insight Team 212 0
  Also named winner BusinessDay Newspaper Excellence in Public Service Award 2022 … The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami has been named winner of the Institute of Chartered Accountants of Nigeria (ICAN) Merit Award 2023 in its Non-Members Category at the Institute’s 2023 Annual Dinner Awards.   Mr. Nami, who […]Continue Reading
(L-R: Muhammad Nami, President, Commonwealth Association of Tax Administrators (CATA), and Executive Chairman, Federal Inland Revenue Service (FIRS); Jim Harra, His Majesty’s Revenue And Customs (HMRC) Permanent Secretary and Chief Executive; Mr. Jon Swerdlow, Capacity Building Unit Transparency Lead, HMRC, and Vice Chairman, CATA; Mr Duncan Onduru, Executive Director, CATA.)
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Tax administrators must match the pace Of global technological advancements — CATA President

By The Insight Team 213 0
  Tax administrators must keep up with the dynamics occasioned by disruptive new technologies of the 21st century, and arm themselves with the necessary skills, capacity and character for effective and efficient tax administration in the fourth industrial revolution age.   This was the position expressed by the President of the Commonwealth Association of Tax Continue Reading
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FIRS signs MoU with UK’s HM Revenue and Customs for collaboration on capacity building  

By The Insight Team 206 0
A Memorandum of Understanding between Nigeria’s Federal Inland Revenue Service (FIRS) and the United Kingdom’s His Royal Majesty’s Revenue and Customs (HMRC) was signed yesterday with the aim of fostering improved collaboration on capacity building between the two tax authorities.    The two agencies signed the agreement in London, United Kingdom, and was attended by […]Continue Reading
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Tax harmonisation: FIRS signs MoU with LIRS for joint tax operations and audit

By The Insight Team 205 0
The Federal Inland Revenue Service (FIRS) yesterday signed a Memorandum of Understanding (MoU) with the Lagos Internal Revenue Service (LIRS) where the two tax authorities would collaborate on joint tax audit, investigation and automatic exchange of information. The MoU signing ceremony which took place at the State House, Marina, Lagos State, Monday was executed by […]Continue Reading
Mr. Muhammad Nami, Executive Chairman, Federal Inland Revenue Service (FIRS) during a meeting at the FIRS HQ, Abuja
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FIRS breaks Its 2021 record, collects N10.1 trillion In 2022

By The Insight Team 287 0
By Daniel Adaji The Federal Inland Revenue Service (FIRS) has announced that it collected over N10 trillion in tax revenue in the year 2022, the highest tax collection ever recorded in its history.   The Service made this known in its “FIRS 2022 Performance Update,” report signed by its Executive Chairman, Mr. Muhammad Nami, and […]Continue Reading
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