Tax Matters

Tax Matters

CAC, NSE in partnership to boost trading activities

May 2013 Economic Confidential

The Corporate Affairs Commission has said that it will be partnering the Nigerian Stock Exchange to boost trading activities.
Specifically, the commission said that it would ensure that adequate information needed to assist investors to make vital decisions was available at the Exchange.
The Chairman, Board of CAC, Chief Funso Lawal, made the declaration during a visit by the commission to the NSE in Lagos on Tuesday.

CAC may set new regulations for business registration

May 2013 Economic Confidential

THE Corporate Affairs Commission (CAC) may introduce new regulations to strengthen the process of registration of new businesses in Nigeria to check fraud.
For instance, prospective directors of new firms seeking registration would be required to submit two passport photographs of each of the directo...

FIRS generates N5trn from non-oil sector last year

May 2013 Economic Confidential

The Federal Inland Revenue Service (FIRS) has said that it generated over N5 trillion from non-oil windows as at December 31, 2012.
The Eastern Regional Coordinator of FIRS, Mr. C. P. Igweh, disclosed this in a paper he presented at a one-day conference on “Tax regulations and socio-economic developm...

FIRS to begin collection of tax from informal sector

April 2013 Economic Confidential

Acting Executive Chairman, Federal Inland Revenue Service (FIRS), Alhaji Kabir Mashi Acting Executive Chairman, Federal Inland Revenue Service (FIRS), Alhaji Kabir Mashi, said that the proposed Presumptive Tax Regime (PTR) would improve access of the tax system to taxpayers in the informal sector.

Pr...

Presumptive Tax Regime on The Way

April 2013 Economic Confidential

Acting Executive Chairman, Federal Inland Revenue Service (FIRS), Alhaji Kabir Mashi, said the proposed Presumptive Tax Regime (PTR) would improve access of the tax system to taxpayers in the informal sector.
Presumptive taxation is a form of tax regime fashioned out to bring taxpayers operating in t...

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