FIRS MENTIONS PLANS TO DEDUCT 5% VAT FOR ONLINE TRANSACTIONS MADE WITH BANK CARDS FROM 2020
To address the challenges with taxing the digital economy in Nigeria, the Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, recently mentioned FIRS’ plans to begin the [...]
FIRS THREATENS PUNISHMENT AGAINST MANAGEMENT OF DEFAULTING COMPANIES
The Federal Inland Revenue Service (FIRS) recently issued a warning against companies whose bank accounts had been placed under lien by FIRS but were yet to reconcile their tax records [...]
FIRS APPLIES WHT/VAT ON REBATES/DISCOUNTS/COMMISSIONS
The Federal Inland Revenue Service (FIRS) recently issued a public notice calling out the failure of some companies to deduct and remit withholding tax (WHT) and value added tax (VAT) [...]