tax – InfoStride News https://www.theinfostride.com Breaking News, Nigeria News and Top Stories Wed, 28 Jan 2026 15:29:49 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.theinfostride.com/wp-content/uploads/2015/07/cropped-The-InfoStride-Favicon-150x150.png tax – InfoStride News https://www.theinfostride.com 32 32 MAN Warns FG’s Tax Stamp Plan Could Worsen Burden on Consumers https://www.theinfostride.com/man-warns-fgs-tax-stamp-plan-could-worsen-burden-on-consumers/ https://www.theinfostride.com/man-warns-fgs-tax-stamp-plan-could-worsen-burden-on-consumers/#respond Wed, 28 Jan 2026 15:00:50 +0000 https://www.theinfostride.com/?p=467167 The Manufacturers Association of Nigeria (MAN) has raised fresh concerns over the Federal Government’s proposed tax stamp policy, warning that the move could increase production costs, hurt local manufacturers, and ultimately shift the financial burden onto consumers. The association stressed that at a time when Nigerians are grappling with inflation, high energy costs, and dwindling [...]

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]]> https://www.theinfostride.com/man-warns-fgs-tax-stamp-plan-could-worsen-burden-on-consumers/feed/ 0 BUA Foods Achieves 101% Profit Growth, Reaches ₦276.1bn in H1 2025 https://www.theinfostride.com/bua-foods-achieves-101-profit-growth-reaches-%e2%82%a6276-1bn-in-h1-2025/ https://www.theinfostride.com/bua-foods-achieves-101-profit-growth-reaches-%e2%82%a6276-1bn-in-h1-2025/#respond Wed, 28 Jan 2026 08:44:10 +0000 https://www.theinfostride.com/?p=463598 BUA Foods Plc on Monday announced an outstanding set of half-year results for the first half of 2025, reporting a 101 percent increase in profit after tax, alongside gross earnings that surged to ₦276.1 billion. The company’s performance spotlighted robust growth across agri-processing, foodstuffs, and sugar refining operations, signaling strong momentum in domestic value chain [...]

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]]> https://www.theinfostride.com/bua-foods-achieves-101-profit-growth-reaches-%e2%82%a6276-1bn-in-h1-2025/feed/ 0 FG Confirms 149 Companies to Keep Pioneer Tax Incentives Under Revised Fiscal Framework https://www.theinfostride.com/fg-confirms-149-companies-to-keep-pioneer-tax-incentives-under-revised-fiscal-framework/ https://www.theinfostride.com/fg-confirms-149-companies-to-keep-pioneer-tax-incentives-under-revised-fiscal-framework/#respond Fri, 19 Dec 2025 14:53:21 +0000 https://www.theinfostride.com/?p=473784 The Federal Government has confirmed that 149 companies will continue to enjoy tax holidays under Nigeria’s newly revised fiscal and investment incentive framework, easing concerns among investors over the fate of pioneer status benefits following recent tax and economic reforms. The confirmation was made amid growing public debate triggered by the enactment of a new [...]

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]]> https://www.theinfostride.com/fg-confirms-149-companies-to-keep-pioneer-tax-incentives-under-revised-fiscal-framework/feed/ 0 Government Lacks Powers to Access Bank Deposits Without Judicial Approval Under New Tax Regime https://www.theinfostride.com/government-lacks-powers-to-access-bank-deposits-without-judicial-approval-under-new-tax-regime/ https://www.theinfostride.com/government-lacks-powers-to-access-bank-deposits-without-judicial-approval-under-new-tax-regime/#respond Sun, 14 Dec 2025 13:55:53 +0000 https://www.theinfostride.com/?p=473476 The Federal Government does not have the authority to access or seize funds in Nigerians’ bank accounts without obtaining a court order under the newly enacted tax laws, according to Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee. Reports by Punch and other Nigerian news outlets indicate that the clarification was [...]

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]]> https://www.theinfostride.com/government-lacks-powers-to-access-bank-deposits-without-judicial-approval-under-new-tax-regime/feed/ 0 Fresh $1bn Travel Tax Scheme Sparks Public Outcry https://www.theinfostride.com/fresh-1bn-travel-tax-scheme-sparks-public-outcry/ https://www.theinfostride.com/fresh-1bn-travel-tax-scheme-sparks-public-outcry/#respond Tue, 04 Nov 2025 14:57:31 +0000 https://www.theinfostride.com/?p=470779 A new travel tax initiative introduced by the Federal Government, estimated to generate $1 billion annually, has triggered widespread protests from aviation stakeholders, travel agencies, and frequent flyers who argue that the move could further burden travelers and weaken Nigeria’s already fragile aviation industry. The controversial policy, unveiled jointly by the Federal Inland Revenue Service [...]

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]]> https://www.theinfostride.com/fresh-1bn-travel-tax-scheme-sparks-public-outcry/feed/ 0 Tax Reforms: FG Pledges Broad Stakeholder Consultation Before 2026 Implementation https://www.theinfostride.com/tax-reforms-fg-pledges-broad-stakeholder-consultation-before-2026-implementation/ https://www.theinfostride.com/tax-reforms-fg-pledges-broad-stakeholder-consultation-before-2026-implementation/#respond Mon, 03 Nov 2025 14:45:28 +0000 https://www.theinfostride.com/?p=470702 The Federal Government has assured Nigerians and the business community that it will carry out extensive stakeholder consultations before the implementation of the next phase of tax reforms slated for 2026. The government said the move is aimed at ensuring fairness, inclusiveness, and efficiency in the nation’s tax system, while also boosting compliance and economic [...]

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]]> https://www.theinfostride.com/tax-reforms-fg-pledges-broad-stakeholder-consultation-before-2026-implementation/feed/ 0 NLC Calls for Taxation of Tech Giants to Fund Worker Retraining https://www.theinfostride.com/nlc-calls-for-taxation-of-tech-giants-to-fund-worker-retraining/ https://www.theinfostride.com/nlc-calls-for-taxation-of-tech-giants-to-fund-worker-retraining/#respond Sat, 11 Oct 2025 18:25:10 +0000 https://www.theinfostride.com/?p=468845 The Nigeria Labour Congress (NLC) has urged the Federal Government to introduce a special tax on major technology companies operating in the country, with the proceeds directed toward retraining and upskilling Nigerian workers whose jobs are increasingly threatened by automation, artificial intelligence, and digital transformation. Speaking during a press briefing in Abuja on Thursday, NLC [...]

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]]> https://www.theinfostride.com/nlc-calls-for-taxation-of-tech-giants-to-fund-worker-retraining/feed/ 0 UBA Records N335.5bn Profit After Tax in H1 Amid Rising Costs and Growth Pressures https://www.theinfostride.com/uba-records-n335-5bn-profit-after-tax-in-h1-amid-rising-costs-and-growth-pressures/ https://www.theinfostride.com/uba-records-n335-5bn-profit-after-tax-in-h1-amid-rising-costs-and-growth-pressures/#respond Fri, 19 Sep 2025 15:52:24 +0000 https://www.theinfostride.com/?p=466898 United Bank for Africa (UBA) delivered a Profit After Tax (PAT) of N335.53 billion in the first half of 2025, up about 6% from N316.36 billion in the same period last year. The result, released recently, comes despite headwinds in interest rate volatility, foreign exchange fluctuations, and sharp increases in funding costs in many of [...]

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]]> https://www.theinfostride.com/uba-records-n335-5bn-profit-after-tax-in-h1-amid-rising-costs-and-growth-pressures/feed/ 0 Federal Government Drops 5% Telecom Levy, Subscribers Welcome Relief https://www.theinfostride.com/federal-government-drops-5-telecom-levy-subscribers-welcome-relief/ https://www.theinfostride.com/federal-government-drops-5-telecom-levy-subscribers-welcome-relief/#respond Fri, 12 Sep 2025 09:23:16 +0000 https://www.theinfostride.com/?p=466494 The Federal Government has officially scrapped the planned 5 percent excise duty on telecommunications services, offering much-needed relief to millions of phone and internet users across Nigeria. The decision, which follows months of consultations and pushback from industry stakeholders, has been widely welcomed by consumers, service providers, and advocacy groups who feared that the tax [...]

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]]> https://www.theinfostride.com/federal-government-drops-5-telecom-levy-subscribers-welcome-relief/feed/ 0 Federal Government Nets ₦600bn in VAT Collections from Facebook, Other Digital Giants https://www.theinfostride.com/federal-government-nets-%e2%82%a6600bn-in-vat-collections-from-facebook-other-digital-giants/ https://www.theinfostride.com/federal-government-nets-%e2%82%a6600bn-in-vat-collections-from-facebook-other-digital-giants/#respond Thu, 11 Sep 2025 09:31:13 +0000 https://www.theinfostride.com/?p=466428 The Federal Government has disclosed that it has collected over ₦600 billion in Value Added Tax (VAT) from global technology companies such as Facebook, Google, Netflix, and other foreign digital service providers operating in Nigeria. The announcement signals significant progress in the country’s efforts to expand its tax base and capture revenue from the fast-growing [...]

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]]> https://www.theinfostride.com/federal-government-nets-%e2%82%a6600bn-in-vat-collections-from-facebook-other-digital-giants/feed/ 0 FCMB Group’s Profit Before Tax Climbs 23% to N79.3bn in H1 2025 https://www.theinfostride.com/fcmb-groups-profit-before-tax-climbs-23-to-n79-3bn-in-h1-2025/ https://www.theinfostride.com/fcmb-groups-profit-before-tax-climbs-23-to-n79-3bn-in-h1-2025/#respond Fri, 22 Aug 2025 10:00:12 +0000 https://www.theinfostride.com/?p=465671 FCMB Group Plc has reported a significant increase in its financial performance for the first half of 2025, with its Profit Before Tax (PBT) rising by 23 per cent to N79.3 billion, underscoring the company’s resilience and strategic business growth. The financial group, which operates across banking, asset management, and other financial services, attributed the [...]

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]]> https://www.theinfostride.com/fcmb-groups-profit-before-tax-climbs-23-to-n79-3bn-in-h1-2025/feed/ 0 FIRS Holds Inaugural Research Day, Unveils Innovative Tax Data Platforms https://www.theinfostride.com/firs-holds-inaugural-research-day-unveils-innovative-tax-data-platforms/ https://www.theinfostride.com/firs-holds-inaugural-research-day-unveils-innovative-tax-data-platforms/#respond Sat, 09 Aug 2025 19:07:42 +0000 https://www.theinfostride.com/?p=464534 The Federal Inland Revenue Service (FIRS) has marked a new milestone in its operational history with the celebration of its first-ever Research Day, an event aimed at promoting evidence-based decision-making and strengthening Nigeria’s tax administration through data-driven innovations. The occasion, held at the FIRS headquarters in Abuja, also featured the official launch of advanced tax [...]

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]]> https://www.theinfostride.com/firs-holds-inaugural-research-day-unveils-innovative-tax-data-platforms/feed/ 0 NIESV Accuses State Governments of Undermining LGs’ Authority Due To Property Taxes https://www.theinfostride.com/niesv-accuses-state-governments-of-undermining-lgs-authority-due-to-property-taxes/ https://www.theinfostride.com/niesv-accuses-state-governments-of-undermining-lgs-authority-due-to-property-taxes/#respond Wed, 23 Jul 2025 22:00:30 +0000 https://www.theinfostride.com/?p=403820 The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has raised concerns over state governments encroaching on the constitutional powers of local governments to collect property taxes. According to the professional body, this interference undermines local governance and weakens the financial autonomy of local councils. Speaking at a recent event, NIESV representatives criticized the trend [...]

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]]> https://www.theinfostride.com/niesv-accuses-state-governments-of-undermining-lgs-authority-due-to-property-taxes/feed/ 0 Nigerian Tax Laws Is No Longer Conducive for Growth says Oyedele https://www.theinfostride.com/nigerian-tax-laws-is-no-longer-conducive-for-growth-says-oyedele/ https://www.theinfostride.com/nigerian-tax-laws-is-no-longer-conducive-for-growth-says-oyedele/#respond Wed, 23 Jul 2025 22:00:21 +0000 https://www.theinfostride.com/?p=403231 Fiscal policy expert Taiwo Oyedele has criticized Nigeria’s tax laws, stating that they are not conducive to economic growth. He pointed out that the current tax system places an excessive burden on businesses and individuals, discouraging investment and slowing economic development. Oyedele highlighted multiple taxation, complex compliance processes, and inconsistent policies as major obstacles preventing [...]

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]]> https://www.theinfostride.com/nigerian-tax-laws-is-no-longer-conducive-for-growth-says-oyedele/feed/ 0 FG, FIRS Commence Grassroots Tax Awareness in Ibadan https://www.theinfostride.com/fg-firs-commence-grassroots-tax-awareness-in-ibadan/ https://www.theinfostride.com/fg-firs-commence-grassroots-tax-awareness-in-ibadan/#respond Sun, 20 Jul 2025 12:08:58 +0000 https://www.theinfostride.com/?p=462441 The Federal Government, in collaboration with the Federal Inland Revenue Service (FIRS), has launched a nationwide tax education campaign, starting in Ibadan, Oyo State. The initiative is designed to educate and engage Nigerians at the grassroots level, particularly traders, artisans, and other informal sector operators, on the benefits and obligations of tax reforms recently introduced [...]

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]]> https://www.theinfostride.com/fg-firs-commence-grassroots-tax-awareness-in-ibadan/feed/ 0 FIRS moves to curb tax evasion and stop illicit financial outflows https://www.theinfostride.com/firs-moves-to-curb-tax-evasion-and-stop-illicit-financial-outflows/ https://www.theinfostride.com/firs-moves-to-curb-tax-evasion-and-stop-illicit-financial-outflows/#respond Mon, 14 Jul 2025 14:19:51 +0000 https://www.theinfostride.com/?p=461966 The Federal Inland Revenue Service (FIRS) has intensified its campaign to curb tax evasion and halt illicit financial flows in Nigeria as part of broader efforts to improve national revenue and strengthen the integrity of the country’s fiscal framework. The tax authority has unveiled a multi-pronged strategy that includes stronger enforcement, inter-agency cooperation, enhanced data [...]

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]]> https://www.theinfostride.com/firs-moves-to-curb-tax-evasion-and-stop-illicit-financial-outflows/feed/ 0 Taxes Would Go Way Down If USA And Canada Merge – Trump https://www.theinfostride.com/taxes-would-go-way-down-if-usa-and-canada-merge-trump/ https://www.theinfostride.com/taxes-would-go-way-down-if-usa-and-canada-merge-trump/#respond Sun, 12 Jan 2025 10:00:47 +0000 https://www.theinfostride.com/?p=400372 US President–Elect, Donald Trump has come out to react to Canadian Prime Minister, Justin Trudeau’s resignation. He recently had his say via a post on his Truth Social platform, and the world has been reacting. According to him, the United States can no longer suffer the massive trade deficits and subsidies that Canada needs to [...]

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]]> https://www.theinfostride.com/taxes-would-go-way-down-if-usa-and-canada-merge-trump/feed/ 0 Kano Government Shuts Max Air Office Over ₦197 Million Tax Debt https://www.theinfostride.com/kano-government-shuts-max-air-office-over-%e2%82%a6197-million-tax-debt/ https://www.theinfostride.com/kano-government-shuts-max-air-office-over-%e2%82%a6197-million-tax-debt/#respond Tue, 26 Nov 2024 18:43:40 +0000 https://www.theinfostride.com/?p=395783 The Kano State Internal Revenue Service (KIRS) has sealed the regional office of Max Air, citing an outstanding tax liability of ₦197 million. The closure, which occurred earlier this week, is part of the state’s intensified efforts to recover unpaid taxes from businesses operating within its jurisdiction. Tax Evasion Allegations According to KIRS, Max Air [...]

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]]> https://www.theinfostride.com/kano-government-shuts-max-air-office-over-%e2%82%a6197-million-tax-debt/feed/ 0 FIRS Assures Tax Bills Will Not Undermine Revenue Collection https://www.theinfostride.com/firs-assures-tax-bills-will-not-undermine-revenue-collection/ https://www.theinfostride.com/firs-assures-tax-bills-will-not-undermine-revenue-collection/#respond Thu, 07 Nov 2024 19:15:10 +0000 https://www.theinfostride.com/?p=393297 The Federal Inland Revenue Service (FIRS) has addressed concerns about new tax bills potentially impacting the roles and revenue streams of tax-collecting agencies. In a recent statement, the agency reassured stakeholders that the proposed tax reforms, rather than undermining revenue collection, are designed to streamline operations and increase efficiency across the tax system. The FIRS [...]

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]]> https://www.theinfostride.com/firs-assures-tax-bills-will-not-undermine-revenue-collection/feed/ 0 America Still Hasn’t Made Me A Honorary Citizen Despite Collecting Millions In Taxes – Nicki Minaj https://www.theinfostride.com/america-still-hasnt-made-me-a-honorary-citizen-despite-collecting-millions-in-taxes-nicki-minaj/ https://www.theinfostride.com/america-still-hasnt-made-me-a-honorary-citizen-despite-collecting-millions-in-taxes-nicki-minaj/#respond Fri, 20 Sep 2024 20:00:14 +0000 https://www.theinfostride.com/?p=389618 Popular rapper, Nicki Minaj has come out to say that she is still not a citizen of the United States. She recently had her say via her social media page, and fans have been reacting. According to her, despite paying millions in taxes over the years, she still has not been deemed deserving of honorary [...]

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]]> https://www.theinfostride.com/america-still-hasnt-made-me-a-honorary-citizen-despite-collecting-millions-in-taxes-nicki-minaj/feed/ 0 Nigerian Banks incur N575.168 billion in taxes in 2023 as FG plans 50% Windfall tax https://www.theinfostride.com/nigerian-banks-incur-n575-168-billion-in-taxes-in-2023-as-fg-plans-50-windfall-tax/ https://www.theinfostride.com/nigerian-banks-incur-n575-168-billion-in-taxes-in-2023-as-fg-plans-50-windfall-tax/#respond Sat, 20 Jul 2024 20:27:27 +0000 https://www.theinfostride.com/?p=383981 In 2023, eleven Nigerian banks incurred a total of N575.168 billion in taxes, marking a significant 175% increase compared to the N209.608 billion incurred in 2022. Out of this total, N440.305 billion was specifically for that taxable year, 2023. This dramatic rise in tax expenses can be attributed to a substantial increase in pre-tax profits [...]

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]]> https://www.theinfostride.com/nigerian-banks-incur-n575-168-billion-in-taxes-in-2023-as-fg-plans-50-windfall-tax/feed/ 0 Companies pay less tax in the first quarter of 2024 as economy worsens https://www.theinfostride.com/companies-pay-less-tax-in-the-first-quarter-of-2024-as-economy-worsens/ https://www.theinfostride.com/companies-pay-less-tax-in-the-first-quarter-of-2024-as-economy-worsens/#respond Fri, 21 Jun 2024 11:48:46 +0000 https://www.theinfostride.com/?p=381001 A review of the recently released Company Income Tax (CIT) report for the first quarter of 2024 reveals that income tax payment by companies in manufacturing, agriculture and 12 others declined by a minimum of 16%.   In total, CIT payments by companies in 14 out of 21 sectors decreased during the first three months of [...]

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]]> https://www.theinfostride.com/companies-pay-less-tax-in-the-first-quarter-of-2024-as-economy-worsens/feed/ 0 Nigerian Budget Under Pressure: Low Oil Production Raises Concerns for Business Environment https://www.theinfostride.com/nigerian-budget-under-pressure-low-oil-production-raises-concerns-for-business-environment/ https://www.theinfostride.com/nigerian-budget-under-pressure-low-oil-production-raises-concerns-for-business-environment/#respond Fri, 07 Jun 2024 10:08:12 +0000 https://www.theinfostride.com/?p=380013 The Federal Government has expressed concern over the impact of lower crude oil production volumes on its revenues, which is jeopardizing its ability to achieve the N19 trillion revenue projection in the 2024 budget. This was outlined in the Accelerated Stabilisation and Advancement Plan (ASAP), developed by the federal government’s Economic Management Team (EMT) Emergency [...]

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]]> https://www.theinfostride.com/nigerian-budget-under-pressure-low-oil-production-raises-concerns-for-business-environment/feed/ 0 Tax Break Blitz: Benue State Lures Investors with Tax Holiday https://www.theinfostride.com/tax-break-blitz-benue-state-lures-investors-with-tax-holiday/ https://www.theinfostride.com/tax-break-blitz-benue-state-lures-investors-with-tax-holiday/#respond Fri, 24 May 2024 20:39:17 +0000 https://www.theinfostride.com/?p=378780 The Benue State Government has announced its intention to provide tax holidays to investors as part of its strategy to rejuvenate and attract more business investments into the state. This initiative was revealed by Dr. Raymond Asemakaha, the Managing Director of Benue Investment and Property Company Limited, during a meeting with representatives from Nigerian Brewery [...]

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]]> https://www.theinfostride.com/tax-break-blitz-benue-state-lures-investors-with-tax-holiday/feed/ 0 Governors and Stakeholders Advocate for Transparent Tax Systems https://www.theinfostride.com/governors-and-stakeholders-advocate-for-transparent-tax-systems/ https://www.theinfostride.com/governors-and-stakeholders-advocate-for-transparent-tax-systems/#respond Thu, 16 May 2024 20:52:36 +0000 https://www.theinfostride.com/?p=378164 In the quest for sustainable economic growth, the governors of Lagos, Sokoto, and Borno States are championing the call for a transparent tax system. This push was highlighted at the 26th Annual Tax Conference by the Chartered Institute of Taxation of Nigeria, focusing on ‘Sustainable Tax Culture and Economic Roadmap for Nation Building’. Governor Babajide [...]

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]]> https://www.theinfostride.com/governors-and-stakeholders-advocate-for-transparent-tax-systems/feed/ 0 CITN urges tax practitioners to uphold ethical standards https://www.theinfostride.com/citn-urges-tax-practitioners-to-uphold-ethical-standards/ https://www.theinfostride.com/citn-urges-tax-practitioners-to-uphold-ethical-standards/#respond Sun, 17 Mar 2024 14:14:57 +0000 https://www.theinfostride.com/?p=373298 The President and Chairman of the Council of the Chartered Institute of Taxation of Nigeria, Mr Samuel Agbeluyi, has charged new licensed tax practitioners to uphold ethical standards while discharging their duties. Agbeluyi made the call during the presentation of practising licence certificates on Wednesday in Lagos State. He said, “I urge all of you [...]

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]]> https://www.theinfostride.com/citn-urges-tax-practitioners-to-uphold-ethical-standards/feed/ 0 Terrence Howard Ordered To Pay $900k In Back Taxes https://www.theinfostride.com/terrence-howard-ordered-to-pay-900k-in-back-taxes/ https://www.theinfostride.com/terrence-howard-ordered-to-pay-900k-in-back-taxes/#respond Sat, 02 Mar 2024 20:42:08 +0000 https://www.theinfostride.com/?p=372203 A federal judge in Philadelphia has ordered Hollywood actor, Terrence Howard to pay nearly $1 million in back taxes. This is coming after he allegedly threatened a Justice Department lawyer and maintained that it was immoral for the United States government to charge taxes to the descendants of slaves. And after a court hearing last [...]

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]]> https://www.theinfostride.com/terrence-howard-ordered-to-pay-900k-in-back-taxes/feed/ 0 Taiwo Oyedele Responds to Critics, Affirms No Recruitment of “Area Boys” for Tax Collection https://www.theinfostride.com/taiwo-oyedele-responds-to-critics-affirms-no-recruitment-of-area-boys-for-tax-collection/ https://www.theinfostride.com/taiwo-oyedele-responds-to-critics-affirms-no-recruitment-of-area-boys-for-tax-collection/#respond Tue, 30 Jan 2024 11:38:42 +0000 https://www.theinfostride.com/?p=369214 In response to critics, Taiwo Oyedele has affirmed that there will be no recruitment of “area boys” for tax collection. This statement comes amid discussions and concerns regarding the methods and personnel involved in tax collection processes. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the context of [...]

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]]> https://www.theinfostride.com/taiwo-oyedele-responds-to-critics-affirms-no-recruitment-of-area-boys-for-tax-collection/feed/ 0 I’m Grateful To My Lawyers For Finally Resolving My Tax Issues – Iyabo Ojo https://www.theinfostride.com/im-grateful-to-my-lawyers-for-finally-resolving-my-tax-issues-iyabo-ojo/ https://www.theinfostride.com/im-grateful-to-my-lawyers-for-finally-resolving-my-tax-issues-iyabo-ojo/#respond Wed, 13 Dec 2023 18:42:00 +0000 https://www.theinfostride.com/?p=364204 Popular Nollywood actress, Iyabo Ojo has come out to say that she has finally resolved her tax issues. She recently had her say via her social media page, and fans have been reacting. According to her, she is very grateful to her legal team, her man and her fans for helping her speak up against [...]

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]]> https://www.theinfostride.com/im-grateful-to-my-lawyers-for-finally-resolving-my-tax-issues-iyabo-ojo/feed/ 0 Rising Cost of Education: Nigerian Schools Hit with 42% Tax Hike by Q3 https://www.theinfostride.com/rising-cost-of-education-nigerian-schools-hit-with-42-tax-hike-by-q3/ https://www.theinfostride.com/rising-cost-of-education-nigerian-schools-hit-with-42-tax-hike-by-q3/#respond Tue, 12 Dec 2023 11:01:08 +0000 https://www.theinfostride.com/?p=364026 In a detailed quarter-by-quarter analysis of data obtained from the National Bureau of Statistics (NBS), Infostride News reveals that educational institutions in Nigeria experienced a significant increase of 42% in taxes paid by the third quarter of 2023. This upward trend in taxation comes at a time of growing apprehension regarding the escalating cost of [...]

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]]> https://www.theinfostride.com/rising-cost-of-education-nigerian-schools-hit-with-42-tax-hike-by-q3/feed/ 0 I Was Ready To Fight My Tax Evasion Case But Eventually Deciding Against It – Shakira https://www.theinfostride.com/i-was-ready-to-fight-my-tax-evasion-case-but-eventually-deciding-against-it-shakira/ https://www.theinfostride.com/i-was-ready-to-fight-my-tax-evasion-case-but-eventually-deciding-against-it-shakira/#respond Tue, 21 Nov 2023 06:10:41 +0000 https://www.theinfostride.com/?p=361403 Popular singer, Shakira has settled her tax evasion suit with the Spanish authorities. She recently avoided a lengthy trial that would have cost her a possible three-year jail sentence, and fans have been reacting. Prosecutors had accused the superstar of defrauding the Spanish state of 14.5 million euros ($15.7 million) on income earned between 2012 [...]

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]]> https://www.theinfostride.com/i-was-ready-to-fight-my-tax-evasion-case-but-eventually-deciding-against-it-shakira/feed/ 0 Federal Government Expanding VAT Oversight Across Five Key Sectors, Says Report https://www.theinfostride.com/federal-government-expanding-vat-oversight-across-five-key-sectors-says-report/ https://www.theinfostride.com/federal-government-expanding-vat-oversight-across-five-key-sectors-says-report/#respond Wed, 25 Oct 2023 23:45:34 +0000 https://www.theinfostride.com/?p=358290 The Federal Government has unveiled an ambitious strategy aimed at enhancing the reach and effectiveness of its Value-Added Tax (VAT) collection. Under this plan, the government intends to employ additional tax agents across five key sectors. The objective is to maximize VAT coverage and collection, aligning with the provisions of Section 14 (3) of the [...]

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]]> https://www.theinfostride.com/federal-government-expanding-vat-oversight-across-five-key-sectors-says-report/feed/ 0 Taxing the Wealthy in Nigeria: Experts Approve https://www.theinfostride.com/taxing-the-wealthy-in-nigeria-experts-approve/ https://www.theinfostride.com/taxing-the-wealthy-in-nigeria-experts-approve/#respond Sat, 21 Oct 2023 21:02:53 +0000 https://www.theinfostride.com/?p=357862 Financial experts have expressed their support for the Federal Government’s proposal to tax wealthy Nigerians, considering it a progressive measure that can promote income redistribution and enhance the country’s fiscal revenues. In separate interviews, these experts have lauded the government’s initiative, describing it as a step in the right direction toward creating a more equitable [...]

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]]> https://www.theinfostride.com/taxing-the-wealthy-in-nigeria-experts-approve/feed/ 0 Nigeria supports the UN’s tax system for member states https://www.theinfostride.com/nigeria-supports-the-uns-tax-system-for-member-states/ https://www.theinfostride.com/nigeria-supports-the-uns-tax-system-for-member-states/#respond Thu, 19 Oct 2023 12:40:23 +0000 https://www.theinfostride.com/?p=357562 Nigeria has made a fervent call for the support of Member States in endorsing a comprehensive UN Tax Convention, with the aim of establishing a more equitable global taxation system. The Permanent Mission of Nigeria to the United Nations released a statement, which was made available to the News Agency of Nigeria (NAN) in New [...]

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]]> https://www.theinfostride.com/nigeria-supports-the-uns-tax-system-for-member-states/feed/ 0 Shakira Has Always Acted By The Law, She Wasn’t Involved In Any Tax Fraud – Lawyers https://www.theinfostride.com/shakira-has-always-acted-by-the-law-she-wasnt-involved-in-any-tax-fraud-lawyers/ https://www.theinfostride.com/shakira-has-always-acted-by-the-law-she-wasnt-involved-in-any-tax-fraud-lawyers/#respond Fri, 21 Jul 2023 16:39:27 +0000 https://www.theinfostride.com/?p=351247 Shakira’s lawyers have come out to blast Spanish prosecutors after the new alleged tax fraud lawsuit against her. Her legal team recently revealed that she has so far not received any formal notification of the investigation over her 2018 tax affairs, and fans have been reacting. According to them, any stain on Shakira’s name via [...]

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]]> https://www.theinfostride.com/shakira-has-always-acted-by-the-law-she-wasnt-involved-in-any-tax-fraud-lawyers/feed/ 0 Shakira Set For 8 Years in Jail Over Tax Fraud https://www.theinfostride.com/shakira-set-for-8-years-in-jail-over-tax-fraud/ https://www.theinfostride.com/shakira-set-for-8-years-in-jail-over-tax-fraud/#respond Sat, 30 Jul 2022 21:01:32 +0000 https://www.theinfostride.com/?p=329537 Popular singer, Shakira is facing up to eight years in prison if she is found guilty of an alleged massive £12m tax fraud. Reports recently revealed this to fans, and the world has been reacting. According to the press, the Hips Don’t Lie singer is charged with defrauding the Spanish treasury out of millions over [...]

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]]> https://www.theinfostride.com/shakira-set-for-8-years-in-jail-over-tax-fraud/feed/ 0 Tax exemptions, incentives fail to encourage remittances, growth, says FG https://www.theinfostride.com/tax-exemptions-incentives-fail-to-encourage-remittances-growth-says-fg/ https://www.theinfostride.com/tax-exemptions-incentives-fail-to-encourage-remittances-growth-says-fg/#respond Wed, 18 May 2022 22:02:09 +0000 https://www.theinfostride.com/?p=325065 The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said despite the Federal Government’s efforts to leverage the benefits of tax exemptions and concessions, the incentive has rather led to huge revenue loss to the government. According to her, though the government is committed to reducing tax expenditure, the nation’s current revenue to [...]

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]]> https://www.theinfostride.com/tax-exemptions-incentives-fail-to-encourage-remittances-growth-says-fg/feed/ 0 Amid clampdown, Nigeria’s brewery sector generates $526m tax https://www.theinfostride.com/amid-clampdown-nigerias-brewery-sector-generates-526m-tax/ https://www.theinfostride.com/amid-clampdown-nigerias-brewery-sector-generates-526m-tax/#respond Sat, 12 Mar 2022 21:24:40 +0000 https://www.theinfostride.com/?p=320381 In the midst of the destruction of beer bottles in some parts of the country, Nigeria’s brewery sector generated $526 million in taxes to the government in 2019, with trends showing additional revenue due to imposed excise duty on the sector. Another increase to N35 per litre was implemented in June 2019. With another adjustment [...]

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]]> https://www.theinfostride.com/amid-clampdown-nigerias-brewery-sector-generates-526m-tax/feed/ 0 There’s need to widen the tax net to boost revenue – Expert https://www.theinfostride.com/theres-need-to-widen-the-tax-net-to-boost-revenue-expert/ https://www.theinfostride.com/theres-need-to-widen-the-tax-net-to-boost-revenue-expert/#respond Wed, 12 Jan 2022 11:48:15 +0000 https://www.theinfostride.com/?p=316502 Experts in the commerce industry have requested that the Federal Government widen its tax net in movement to increase its revenue and ease the burden on the nation’s economy. The experts, established that beyond the technicalities around the assessment, rates, and computation of taxes, the government at all levels should ensure the creation of an [...]

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]]> https://www.theinfostride.com/theres-need-to-widen-the-tax-net-to-boost-revenue-expert/feed/ 0 There might be possible introduction of additional taxes in 2022 – Finance minister https://www.theinfostride.com/there-might-be-possible-introduction-of-additional-taxes-in-2022-finance-minister/ https://www.theinfostride.com/there-might-be-possible-introduction-of-additional-taxes-in-2022-finance-minister/#respond Mon, 13 Dec 2021 21:36:38 +0000 https://www.theinfostride.com/?p=314583 The Minister of Finance, Budget and National Planning, Zainab Ahmed, has hinted that the federal government might introduce new tariffs and levies in 2022 as the economy moves on the path of recovery. This was disclosed by Ahmed while addressing stakeholders at a public hearing on the 2021 Finance Bill organised by the House of [...]

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]]> https://www.theinfostride.com/there-might-be-possible-introduction-of-additional-taxes-in-2022-finance-minister/feed/ 0 CITN joins road infrastructure development to tax credit scheme https://www.theinfostride.com/citn-joins-road-infrastructure-development-to-tax-credit-scheme/ https://www.theinfostride.com/citn-joins-road-infrastructure-development-to-tax-credit-scheme/#respond Wed, 10 Nov 2021 20:33:57 +0000 https://www.theinfostride.com/?p=312420 The Chartered Institute of Taxation of Nigeria (CITN) has established that private-public participation (PPP) under the road infrastructure investment tax credit scheme is an innovation that has aided in bridging the gap in road infrastructure in Nigeria. The institute had applauded the approval given by the Federal Executive Council (FEC) to the Nigerian National Petroleum [...]

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]]> https://www.theinfostride.com/citn-joins-road-infrastructure-development-to-tax-credit-scheme/feed/ 0 G20 Leaders Endorse Global Minimum Corporate Tax Deal For 2023 Start https://www.theinfostride.com/g20-leaders-endorse-global-minimum-corporate-tax-deal-for-2023-start/ https://www.theinfostride.com/g20-leaders-endorse-global-minimum-corporate-tax-deal-for-2023-start/#respond Sat, 30 Oct 2021 21:00:09 +0000 https://www.theinfostride.com/?p=311593 Leaders of the world’s 20 biggest economies (G20) will endorse an OECD deal on a global minimum corporate tax of 15%, draft conclusions of the two-day G20 summit showed on Saturday, with a view to have the rules in force in 2023. “We call on the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting [...]

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]]> https://www.theinfostride.com/g20-leaders-endorse-global-minimum-corporate-tax-deal-for-2023-start/feed/ 0 G20 Finance Chiefs Back Global Tax Deal, Pledge To Sustain Recovery https://www.theinfostride.com/g20-finance-chiefs-back-global-tax-deal-pledge-to-sustain-recovery/ https://www.theinfostride.com/g20-finance-chiefs-back-global-tax-deal-pledge-to-sustain-recovery/#respond Fri, 15 Oct 2021 11:00:18 +0000 https://www.theinfostride.com/?p=310449 Finance leaders from the G20 major economies on Wednesday endorsed a global deal to revamp corporate taxation and pledged to sustain fiscal support for their economies while keeping a close eye on inflation. The G20 finance ministers and central bank governors also said in a communique issued after a meeting in Washington that the International [...]

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]]> https://www.theinfostride.com/g20-finance-chiefs-back-global-tax-deal-pledge-to-sustain-recovery/feed/ 0 Court halts Rivers, Lagos from collecting VAT pending determination of case https://www.theinfostride.com/court-halts-rivers-lagos-from-collecting-vat-pending-determination-of-case/ https://www.theinfostride.com/court-halts-rivers-lagos-from-collecting-vat-pending-determination-of-case/#respond Fri, 10 Sep 2021 22:52:59 +0000 https://www.theinfostride.com/?p=307735 The Court of Appeal sitting in Abuja has ordered all the contending parties to maintain the status quo on the collection of Value Added Tax (VAT) pending the determination of the appeal filed before the Federal Inland Revenue Service (FIRS). The appellate court, in its order, which is the latest twist in the series of [...]

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]]> https://www.theinfostride.com/court-halts-rivers-lagos-from-collecting-vat-pending-determination-of-case/feed/ 0 State government sue FG over stamp duty collection as tax dispute goes deeper. https://www.theinfostride.com/state-government-sue-fg-over-stamp-duty-collection-as-tax-dispute-goes-deeper/ https://www.theinfostride.com/state-government-sue-fg-over-stamp-duty-collection-as-tax-dispute-goes-deeper/#respond Fri, 10 Sep 2021 22:03:44 +0000 https://www.theinfostride.com/?p=307731 The tax dispute between the different tiers of government appears to be worsening as the 36 state governments have sued the Federal Government over the latter’s alleged failure to remit funds generated from stamp duties into the state accounts. In a new twist, the state governments, through their Attorney-Generals, are contending that they, and not [...]

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]]> https://www.theinfostride.com/state-government-sue-fg-over-stamp-duty-collection-as-tax-dispute-goes-deeper/feed/ 0 95% of Nigerians participating in the informal economy pay taxes https://www.theinfostride.com/95-of-nigerians-participating-in-the-informal-economy-pay-taxes/ https://www.theinfostride.com/95-of-nigerians-participating-in-the-informal-economy-pay-taxes/#respond Thu, 09 Sep 2021 15:23:37 +0000 https://www.theinfostride.com/?p=307646 A recent report has revealed that up to 98% of Nigerians operating in the informal economy pay taxes daily, with some businesses paying taxes 3 times a day. In Lagos, for instance, some bus drivers pay as much as N3,000 a day in taxes to different groups. This report by socioeconomic research firm, SBM Intel, [...]

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]]> https://www.theinfostride.com/95-of-nigerians-participating-in-the-informal-economy-pay-taxes/feed/ 0 Tax evasion: Tribunal orders MultiChoice to deposit N900 billion with FIRS before hearing appeal https://www.theinfostride.com/tax-evasion-tribunal-orders-multichoice-to-deposit-n900-billion-with-firs-before-hearing-appeal/ https://www.theinfostride.com/tax-evasion-tribunal-orders-multichoice-to-deposit-n900-billion-with-firs-before-hearing-appeal/#respond Wed, 25 Aug 2021 21:20:40 +0000 https://www.theinfostride.com/?p=304833 A tax appeal tribunal (TAT) sitting in Lagos has ordered Multichoice Nigeria Limited to deposit 50 percent of the disputed N1.8 trillion tax with the Federal Inland Revenue Service (FIRS).   Abdullahi Ismaila Ahmad, FIRS spokesperson, made this known in a statement on Wednesday. Multichoice is the owner of the satellite televisions, DStv and Gotv [...]

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]]> https://www.theinfostride.com/tax-evasion-tribunal-orders-multichoice-to-deposit-n900-billion-with-firs-before-hearing-appeal/feed/ 0 Firms with untraceable addresses owe N17.69bn tax in 2015 -FIRS https://www.theinfostride.com/firms-with-untraceable-addresses-owe-n17-69bn-tax-in-2015-firs/ https://www.theinfostride.com/firms-with-untraceable-addresses-owe-n17-69bn-tax-in-2015-firs/#respond Mon, 16 Aug 2021 14:57:19 +0000 https://www.theinfostride.com/?p=303990 The Federal Inland Revenue Service confirmed that companies with untraceable addresses evaded taxes to the tune of N17.69bn, according to a report by the Office of the Auditor General of the Federation for 2015. The Senate has consequently ordered the Executive Chairman of the FIRS, Muhammad Nami, to go after the defaulters, recover and remit [...]

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]]> https://www.theinfostride.com/firms-with-untraceable-addresses-owe-n17-69bn-tax-in-2015-firs/feed/ 0 World Bank: How Nigeria can generate N10 trillion tax revenue in three years https://www.theinfostride.com/world-bank-how-nigeria-can-generate-n10-trillion-tax-revenue-in-three-years/ https://www.theinfostride.com/world-bank-how-nigeria-can-generate-n10-trillion-tax-revenue-in-three-years/#respond Thu, 24 Jun 2021 22:07:05 +0000 https://www.theinfostride.com/?p=298393 The World Bank has advised the federal government to focus on low-hanging and revenue-yielding fruits in order to achieve substantial gains, grow Nigeria’s tax-to-GDP ratio to about seven per cent and rake in about N10 trillion revenue in the next three years. Specifically, the bank advised the government to increase ‘sin taxes,’ charging fees for [...]

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]]> https://www.theinfostride.com/world-bank-how-nigeria-can-generate-n10-trillion-tax-revenue-in-three-years/feed/ 0 YouTube to Update its Terms of Service From June 1 https://www.theinfostride.com/youtube-to-update-its-terms-of-service-from-june-1/ https://www.theinfostride.com/youtube-to-update-its-terms-of-service-from-june-1/#respond Wed, 19 May 2021 20:26:37 +0000 https://www.theinfostride.com/?p=294125 YouTube is going to update its Terms of Service soon and has sent a mail out to all its users to clarify these terms and also provide transparency. The video-streaming platform mentions that these terms were similarly updated in the United States in November last year and are now being rolled out in India. YouTube’s [...]

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