•National Assembly complex, Abuja The National Assembly yesterday passed for second reading an Executive Bill seeking to tax the windfall made by banks from foreign exchange business. The bill is an amendment to the Finance Act of 2023. The one-time tax will be used to finance capital infrastructure development, education, healthcare and other...
•Taiwo Oyedele The federal government has approved a simplified and business-friendly withholding tax regime, according to Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee. The new regime aims to address challenges with the existing withholding tax system, which was introduced in 1977 to curb tax evasion and ...
•Kenyan Police officer fires tear gas canister towards protesters during a demonstration against tax hikes A man died after mass demonstrations against proposed tax hikes in the Kenyan capital yesterday, police said, with Amnesty International saying it was a protester who had been shot. Led largely by Gen-Z Kenyans, the protests began in Nair...
The National Action on Sugar Reduction (NASR) coalition has called on the federal government to promptly increase the tax on heavily sugared drinks, commonly referred to as sugar-sweetened beverages (SSBs) to a prohibitive level. According to a report, 60 million people (30 percent) out of Nigeria’s 200 million population are classified as ove...
•Former President Muhammadu Buhari The Chairman of the Federal Inland Revenue Service (FIRS), Zacheus Adedeji, yesterday, faulted the N2.59 trillion Tax Credit Scheme introduced by former President Muhammadu Buhari’s administration for road construction. This was as the Nigerian National Petroleum Company Limited (NNPCL), one of the executors ...
•Uniliver has left Unless audacious steps are taken to fix the ailing Nigerian economy and halt the exodus of multinational firms, the country, literally on ventilators, may eventually collapse, experts warned at the weekend. The warning comes as the federal government, banking on the exaggerated capacity of local firms to fill the void, maint...
•Lagos State Governor Babajide Sanwo-Olu The Lagos State Internal Revenue Service (LIRS) has issued a reminder to all employers of labour to submit their annual tax returns on or before the stipulated deadline of January 31, 2024. Ayodele Subair, the Executive Chairman of LIRS, conveyed this in an official statement endorsed by Monsurat...
•Chairman, Delta State Internal Revenue Service, Solomon Ighrakpata Employers of labour as well as self-employed individuals in Delta State, have been given till January 31, and March 31, 2024, respectively, to voluntarily file their annual tax returns for 2023 by the Personal Income Tax Act of 2004, as amended. This was contained in a stateme...
A move by Kenyan authorities to tax travellers on new or used goods brought into the country has caused an outcry, with lawmakers and even a government minister denouncing the scheme. Although the Kenya Revenue Authority has said the directive is not new, it has triggered confusion and concern, with some complaining of harassment by […]
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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