Tag Archives: tax

According to Premium Times, the Finance Minister, Kemi Adeosun, on Thursday gave clarifications on the Nigerian government’s plan on diaspora taxes. Mrs. Adeosun made this clarification during a Facebook LIVE video chat tagged “Tax Thursday”. While responding to questions during the tax programme monitored by PREMIUM TIMES’ correspondent, Mrs. Adeosun explained that the new tax regime isn’t meant for all ...

According to Pulse, the Federal Executive Council presided over by Acting President Yemi Osinbajo on Wednesday approved N7.94billion for the reimbursement of Kwara Government to undertake the construction of the Kaiama-kishi road. The Minister of Works, Power and Housing, Mr Babatunde Fashola disclosed this while briefing State House correspondents alongside the Minister of Transportation, Rotimi Amaechi and Minister of Finance, ...

“Real estate tax figures are not in tune with reality. The government would spend less time chasing people and make more money if the tax rates are reasonable and realistic. All these charges make it expensive to transact in real estate. Prices of real estate properties are high because of all the high tax charges” – Mr Chudi Ubosi, Principal ...

Nyesom Wike, Governor of Rivers State has invited foreign and local investors to take advantage of the rapid developmental strides of his administration to invest in all sectors of the state’s economy, in order to create jobs. “He assured that first-time investors in sectors such as tourism and hospitality, housing and property development, as well as  agriculture and ICT skills ...

“A pending bill before the Akwa Ibom House of Assembly aimed at taxing property owners in Uyo, the state capital, has become a subject of controversy among the lawmakers and the ordinary citizens alike. Known as Real Property Charge Bill, 2016 and sponsored by a member representing Esit Eket/Ibeno, state constituency, Usoro Akpanusoh, opposition to the bill has come from ...

Reports show that the Federal Inland Revenue Service, FIRS, yesterday, sealed the Diplomat Hotel, located on Shonnyway Street, Shonibare Estate, Maryland, Lagos, over a N351 million tax debt. The Guardian reports that Bukar Gana, head of the FIRS enforcement team, stated the hotel owes taxes between 2012 and 2016. The hotel’s customer care manager, who didn’t give his name, said ...

Olufolarin Ogunsanwo, Head of the Lagos State Internal Revenue Service, yesterday said the agency has begun the process of overhauling its informal sector operations to ease voluntary compliance by tax payers and 3 categories of tax payers in the sector have been identified. Mr. Ogunsanwo disclosed this at the LIRS press conference held in Lagos. “His Excellency has also recently ...

Property tax can be defined as a levy on property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state, a county or geographical region, or a municipality. This is in contrast to a rent ...

One-time billionaire and Yellowstone Club founder Tim Blixseth owes almost $74 million in back taxes, penalties and interest in Montana, state revenue officials said Tuesday, after a tax board ruled that the real estate mogul diverted huge sums from the luxury resort for personal use. Revenue officials said the Washington state resident and his former wife misappropriated more than $270 ...

The two chambers of the National Assembly have passed into law a bill which seeks the establishment of the Federal Capital Territory Internal Revenue Board. The bill, among others, empowers the Federal Capital Territory Administration to establish its own Internal Revenue Board which would have, among others, the legal powers to collect tax on property.According to the harmonised report of ...