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Category: Company Income Tax

Tax Credit Scheme Yields More Fruits as NNPC Presents ₦612 Billion for Construction of 21 Roads Nationwide
Company Income Tax, General

Tax Credit Scheme Yields More Fruits as NNPC Presents ₦612 Billion for Construction of 21 Roads Nationwide

21 roads Nationwide will be constructed using ₦612 billion from NNPC for a return of a tax credit issued by the FIRS.

December 22, 2021December 22, 2021By Amosu Jeremiah3 mins read
FG Loses ₦5.16tn to Different Tax Reliefs in 2020
Company Income Tax, General, VAT

FG Loses ₦5.16tn to Different Tax Reliefs in 2020

The loss on these reliefs are from Value Added Tax, Corporate Income Tax, and Petroleum Profit Tax

October 19, 2021October 19, 2021By Amosu Jeremiah3 mins read
FIRS Talks Tough on Defaulters of Company Income Tax, Issues Deadline of November 30th, 2021.
Company Income Tax, FIRS

FIRS Talks Tough on Defaulters of Company Income Tax, Issues Deadline of November 30th, 2021.

Pay CIT as at when due or Risk penalties for Late Filing-FIRS

October 9, 2021October 10, 2021By Amosu Jeremiah2 mins read
Cement, Telecommunications, Banking Industries Produces Highest Corporate Income Tax in 2020
Company Income Tax

Cement, Telecommunications, Banking Industries Produces Highest Corporate Income Tax in 2020

Dangote Cement, MTN, GTBank, Pay Highest Income Tax in 2020

October 8, 2021October 8, 2021By Amosu Jeremiah2 mins read
Lagos Revenue Drive: Clamps Down on 16 Hospitality Firms Over Tax Liability from 2013
Company Income Tax, General

Lagos Revenue Drive: Clamps Down on 16 Hospitality Firms Over Tax Liability from 2013

The Lagos State Internal Revenue Service decided to seal off Chinese firms and others for not remitting tax liability despite the extended submission deadline.

July 23, 2021July 23, 2021By Amosu Jeremiah3 mins read
“This is insanity taken too far”- Civil Rights Advocacy Group Blasts FIRS Over Newly Imposed ₦70m CIT
Company Income Tax, FIRS

“This is insanity taken too far”- Civil Rights Advocacy Group Blasts FIRS Over Newly Imposed ₦70m CIT

Recent demand by the Federal Inland Revenue Service for the Human Rights Writers Association of Nigeria to remit the sum of ₦70 million is not sitting down well with the advocacy group

May 28, 2021May 28, 2021By Amosu Jeremiah3 mins read
First Quarter 2021 Review: CIT continues impressive run from last year
Company Income Tax, Feature, General

First Quarter 2021 Review: CIT continues impressive run from last year

First Quarter 2021 Review: CIT continues impressive run from last year

May 19, 2021May 20, 2021By Amosu Jeremiah2 mins read
2020 in Review: Bumper Harvest for Dangote Cement, Tax Administration
Company Income Tax, Feature, General

2020 in Review: Bumper Harvest for Dangote Cement, Tax Administration

The tax administration is expected to rake in a whopping ₦97b as corporate tax from Dangote Cement

March 26, 2021March 26, 2021By Amosu Jeremiah3 mins read
Exposed! 52,005 Companies with Turnover Between ₦100m and ₦1bn are not Paying Taxes to the Federal Government
Company Income Tax, FIRS, General

Exposed! 52,005 Companies with Turnover Between ₦100m and ₦1bn are not Paying Taxes to the Federal Government

FIRS reports massive tax evasion, recovers ₦83.216bn

March 4, 2021March 4, 2021By Amosu Jeremiah4 mins read
Dwindling Resources: Oil and Gas Companies Income Tax Falls by ₦4.94bn
Company Income Tax, General

Dwindling Resources: Oil and Gas Companies Income Tax Falls by ₦4.94bn

Last year, the collapse in oil prices and demand on the back of the COVID-19 pandemic hit most oil and gas operators, with capital expenditures slashed and projects suspended.

February 6, 2021February 6, 2021By Amosu Jeremiah3 mins read

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