A Madrid court on Wednesday handed down a one-year sentence and a €386,000 ($375,000) fine to Brazil coach, Carlo Ancelotti, for failing to pay tax on his image-rights revenues when he was Real Madrid manager in 2014, the court said in a statement. However, ESPN reports that Ancelotti is likely to receive a suspended sentence…
The tax evasion trial of global cryptocurrency platform Binance Holdings Limited has been postponed in Nigeria, after the presiding judge, Justice Emeka Nwite of the Federal High Court in Abuja, was absent on Wednesday for official duties. The case, brought by Nigeria’s Federal Inland Revenue Service (FIRS), had been set to continue with the cross-examination…
The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), has expressed its profound appreciation to President Bola Tinubu, for the recent signing of the tax reform bills and the commission`s bill. Dr Muhammed Shehu, Chairman of the commission said this in Abuja on Monday, in his commendation message to the President, on the bills. Shehu said…
Gov Peter Mbah of Enugu State has again said that his administration did not increase taxes in the state as being speculated by some people, describing it as a “misconception”. The governor rather said that what his government simply did was to expand the state’s tax net by bringing in those who were not captured…
In a bold fiscal move, Nigerian President Bola Tinubu will sign into law four transformative bills on Thursday that aim to modernise the country’s tax system and boost its revenue-generation capabilities. The new laws – The Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill…
Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revealed that his administration is actively considering an increase in ground rent payments. Wike also identified the widespread refusal to pay ground rent and other taxes as the most significant obstacle he faces. The announcement follows a major enforcement drive by the FCT Administration (FCTA),…
Russia and Belarus said they have reaffirmed their commitment to deepening economic integration by taking concrete steps toward establishing a unified tax space. This development follows the deployment and audit of the Integrated System for the Administration of Indirect Taxes, jointly developed by the tax authorities of both countries. This was reported by the official…
MTN Nigeria and the Chartered Institute of Taxation of Nigeria (CITN) have canvassed urgent tax reforms to boost national development. They made the call on Wednesday in Abuja at the ongoing 27th annual Tax Conference of CITN. Both organisations highlighted the importance of public-private collaboration in fostering fiscal transparency and sustainable national development. The four-day…
President Bola Tinubu has reiterated his commitment in undertaking bold and comprehensive reforms to reposition the country’s fisical architecture for resilience, inclusiveness and economic growth. Tinubu said this during the 27th Annual Chartered Institute of Taxation of Nigeria (CITN) Tax Conference in Abuja on Tuesday. The theme of the conference was, “Taxation for development, policies,…
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr Zack Adedeji, has restated commitment to supporting initiatives that drive tax policy development and capacity building in Nigeria, and across the West African region. “We recognise the importance of domestic resource mobilisation in achieving economic development and growth,” Adedeji said, at the West African…
