Federal Inland Revenue Service

The Federal Inland Revenue Service (FIRS) has said that the Federal Government is eyeing a Value Added Tax (VAT) of N5 trillion in 2024, while also putting mechanisms in place to close identified tax gaps. It also said that the FG was…

The Federal Inland Revenue Service (FIRS) will undergo a significant restructure after the federal government authorized a new organizational structure for the agency. Wale Edun, the Minister of Finance and Coordinating Minister for the…

MTN, Airtel, as well as money deposit banks in Nigeria have been appointed by the Federal Inland Revenue Service (FIRS) to withhold Value Added Tax (VAT) charged on all taxable supplies made to them, and remit to the Service. FIRS in a…

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…

The Federation Account Allocation Committee (FAAC) has injected a total sum of N802.407 billion into the economy as a June 2022 allocation for the three tiers of government. The committee after its meeting in Abuja disclosed the amount…

Following the expiration of the amnesty through the Voluntary Assets and Income Declaration Scheme (VAIDS) of the Federal Government, the Joint Tax Board (JTB) in collaboration with the Federal Inland Revenue Service (FIRS) is about to…

In keeping to its words as announced earlier in the month, the Federal Inland Revenue Service (FIRS) will next month, begin a nationwide check of compliance to Value Added Tax (VAT) and Withholding Tax (WHT) by taxable persons and entities…

                      The Federal Inland Revenue Service (FIRS) has stressed the need for improved collaboration among countries to explore alternative rules that will enable market jurisdictions, particularly African countries, to…

President Muhammadu Buhari has ordered ministries, departments, agencies and business enterprises to grant access to the Federal Inland Revenue Service (FIRS) to their systems for the purpose of tax collections. Buhari gave the order at…

The Federation Accounts Allocation Committee (FAAC), Wednesday shared among the three tiers of government, a total N619.343 billion to reflate the economy. The components of the amounts are N171.358 billion Value Added Tax (VAT), N437.26…