Tag Archives: taxes

Amid the complaints about the new Lagos State Land Use Charge, the Commissioner for Finance, Akinyemi Ashade, says an aggregated tax that has combined three erstwhile separate taxes namely tenement rate, ground rent and neighbourhood improvement levy into one. Ashade, who noted on Tuesday in Lagos that Land Use Charge had been trending for the wrong reasons, recently said that ...

The Lagos State Government on Monday directed all its revenue agencies to ensure prompt payment of taxes and also commence enforcement of payment by all tax defaulters with immediate effect. Commissioner for Information and Strategy, Mr. Steve Ayorinde, in a statement, lamented that many residents were not fulfilling their civic obligation of paying their taxes and that the prevailing situation ...

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 ...

Why should entrepreneurs invest in the first place? The answer is: to have enough money to live on when we no longer can or wish to work. To put that money aside, however, we have to accumulate enough to offset inflation, stem the tide of the economic recession and other expenses that erode our savings. And for that purpose, real estate is ...

Taxes are known to be levies paid by citizens of a community for the services provided such as town halls, markets, roads, electricity e.t.c. The existence of taxes dates way back to the ancient communities where people pay either tribute or sweat tax to the local chiefs. Since the discovery of crude oil in the early 1960’s in Nigeria, the ...