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Nigerian airlines have called on the federal government to review its tax policy for the sector as well as the cost of aviation fuel, in order to reduce cost of flight operations and ensure they remain in business. The operators said many airlines that went under in the last few years were due to high cost of operation, including high taxes and hig

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A major national lesson for the government and citizens of Nigeria over the last five years is that oil revenue, on which the country is almost totally dependent to fund development, cannot be relied upon to take the country to its desired developmental destination. For decades, local and international economic observers had cautioned against near-

The Executive Chairman, Federal Inland Revenue Services, FIRS, Mr Babatunde Fowler, has blamed ignorance of taxation rules for the incessant controversies between taxpayers and government. Fowler, expressed this view at the KPMG Tax Breakfast Seminar in Lagos, with theme, ‘Tax Controversy and Dispute Resolution’. He counselled taxpayer

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The European Union on Friday removed the British overseas territory of Bermuda, the Dutch Caribbean Island of Aruba and Barbados from the bloc’s blacklist of tax havens. The three islands were added to the list in March as they had failed for months to change their tax rules, which the EU deemed at risk of facilitating tax evasion in other c

The Nigeria Economic Summit Group has said that about 70 per cent of Nigerians believe that it is not wrong to pay tax. The NESG disclosed this during its Fiscal Policy Roundtable event in Lagos, while launching its Citizen Perception Report, a research advocating better tax system in the country. The Fiscal Policy Roundtable co-chair, NESG, Dr Doy

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The Institute of Chartered Accountants of Nigeria (ICAN) has accredited National Diploma (ND) and Higher National Diploma (HND) programmes in Accountancy being run by the Abubakar Tatari Ali Polytechnic (ATAP) Bauchi. The Dean, School of Management Studies of the polytechnic, Dr Hafiz Baba who announced this, said this would enable students of Acco

Nigerian citizens are ready to pay their taxes given proper education and expenditure transparency on the allocation and application of resources by the government, according to a new survey by the Nigeria Economic Summit Group. The survey, Citizen Perception Report is the first of several research pieces to be published by the NESG Fiscal Policy R

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The Tax Appeal Tribunal on Tuesday adjourned until July 17, hearing in the suit filed by Joseph Daudu, SAN, challenging alleged N1.2 billion error in taxation. Mr Daudu (appellant) said he was dissatisfied with Federal Inland revenue Service (FIRS) assessments of his Withholding Tax (WHT), Personal Income Tax and Value Added Tax (VAT) for the perio

Chief Executive Officer of the Nigeria Financial Intelligence Unit (NFIU), Modibbo Hamman Tukur, has commended the Federal Inland Revenue Service (FIRS) for revolutionizing tax administration in the country. Tukur said this during his courtesy visit to the Chairman of FIRS, Mr. Tunde Fowler, in Abuja yesterday. He also promised that tax compliance

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