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FIRS recover tax Nigeria

FIRS set to freeze bank accounts again

Six months ago, the Federal Inland Revenue Service (FIRS) appointed banks as agents of defaulting taxpayers an annual bank turnover of NGN1 billion. The goal was to freeze the bank account balances and distrain properties of tax debtors. Now, FIRS intends to recover…

Nigeria Tax Highlights – January 2019

The year 2019 started on a good note. In Nigeria, tax attracted lots of predictions on aggressive revenue drive after the elections in February. BRC kept tabs on five (5) major tax topics in January 2019. Here goes….. The Federal Government of Nigeria…

Private sector can now get tax credit for funding road construction

On Friday, Nigeria’s President, Muhammadu Buhari, signed an Executive Order 007, 2019 called Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.  The new order will allow companies in the private sector to repair, develop and maintain major roads across the country. In return,…

LIRS introduces e-filing of annual tax returns

The Lagos State Internal Revenue Service (LIRS) has changed the tax filing narratives. According to the Personal Income Tax Act (PITA) Cap P8 LFN 2011 (as amended), every employer shall file an employer tax returns (Form H1) with the relevant tax authority by…