LAGOS JULY 30TH (NEWSRANGERS)-Nigerians will soon start paying 12.5 per cent tax on telecommunications services as the federal government plans to implement five per cent inclusive excise duty on telecommunications services in Nigeria. The Minister of Finance Budget and National Planning, Zainab Ahmed, said this at a stakeholders’ forum on implementation of excise duty on…
LAGOS JULY 9TH (NEWSRANGERS)-Boko Haram and Islamic State West African Province terrorists have been taxing residents of Marte, Abadam, Kukawa and Guzamala areas of Borno state for road use. That is aside from the levies farmers and fishermen have to pay on their produce. SaharaReporters gathered that the failure of residents to comply with this…
LAGOS JUNE 14TH (NEWSRANGERS)-Nigeria loses not less than N100b every year in tax related fraud, experts at a conference organised by the country’s leading anti-corruption group said at the weekend. Speaking at the 25th Anti-corruption Situation Room organised by HEDA Resource Centre held at Sheraton Hotel on Saturday in commemoration of the June 12, 1993…
LAGOS FEBRUARY 8TH (NEWSRANGERS)-The South African Revenue Service (SARS) is reportedly sending taxpayers audit requests, asking those who have held cryptocurrencies to disclose their trading activity. SARS has sent the requests to a number of taxpayers who, in turn, contacted professional tax services firm Tax Consulting South Africa, reported local IT news site MyBroadband on…
LAGOS NOVEMBER 23RD (NEWSRANGERS)-The federal government of Nigeria has concluded plans to slash the levy to be paid on imported cars from 35 percent to five percent, according to a new bill to be presented to the national assembly. The bill which will come as a welcome development to Nigerians who have been financially impacted…
LAGOS NOVEMBER 13TH (NEWSRANGERS)-Residence of Kogi State are expected to pay levy on every loaf of bread purchased. This is as a result of the state government introduction of levy on every loaf of bread baked in the state. The state ministry of commerce and industry said the levy is aimed at improving the internally…
LAGOS JANUARY 7TH (NEWSRANGERS)-The Federal Government (FG) has announced that small businesses with turnover less than N25m will be exempted from paying Companies Income Tax (CIT). Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed while disclosing this Monday explained that the policy would be effective once the Finance Bill 2019, is signed into law….
LAGOS DECEMBER 2ND (NEWSRANGERS)-Evidence of tax payment will be a condition for operating a bank account from January, according to the Financial bill passed by the National Assembly. The Bill, submitted to the lawmakers with Budget 2020 by President Muhammadu Buhari, is designed to improve financial operations of the country and streamline the tax regime….