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…
An entrepreneur, Mr Nerus Ekezie, has urged the Federal Government to accelerate and enact the tax reform bill to spur economic growth. Ekezie, former Director of the National Association of Small and Medium Enterprises (NASME), made the call in an interview with the News Agency of Nigeria (NAN) in Lagos on Sunday. He stressed that…
The Supreme Council for Shariah in Nigeria, Committee of FCT Imams Initiative, Kano State Government, and former Presidential Adviser Professor Auwalu Yadudu have raised concern about the proposed law on inheritance, saying it will infringe on the religious rights of Christians and Muslims. The stakeholders disclosed this on Wednesday during their various presentations at the…
Speaker of House of Representatives, Rep. Tajudeen Abbas, says the house will thoroughly scrutinise the tax reform bills to ensure they align with interests of Nigerians. Abbas stated this during a public hearing on the bills organised by the Special Committee on Tax Reform Bills on Wednesday in Abuja. The News Agency of Nigeria NAN)…
The Chairman of the Senate Committee on Finance, Sen. Sani Musa, has assured that the Senate would produce legislation from the tax reform bills aimed at making Nigeria’s economy a trillion-dollar base. He added that President Bola Tinubu had tasked the National Assembly with this goal and that the legislature was committed to creating a…
