FIRS Archives - Business Metrics

3-Month Taxes From Consumers, Companies Rise 96% to N2.3tn – NBS

Government revenue got a boost as taxes from companies and consumers rose by 96.11 per cent to N2.31 trillion in the second quarter of 2023. According...

FIRS: Nigeria’s tax-to-GDP ratio rises to 10.86% as at 2021

Economy1 year ago

FIRS: Nigeria’s tax-to-GDP ratio rises to 10.86% as at 2021

Nigeria’s Tax-to-GDP ratio which, in the last 12 years, hovered between 5% to 6% rose to 10.86% by the end of 2021. The new ratio was...

Economy2 years ago

FIRS Appoints MTN, Airtel, Banks To Collect, Remit VAT On Supplies

By Christy Animam MTN, Airtel, as well as money deposit banks in Nigeria have been appointed by the Federal Inland Revenue Service (FIRS) to withhold Value...

Economy2 years ago

FCT, 36 States, 774 LGAs to Cough Out Unremitted Tax Deductions – FIRS

All the 36 states of the federation, the Federal Capital Territory Authority and the 774 local government authorities in the country are now under pressure to...

NCC, FIRS Inaugurate Joint Committee to Boost National Revenues in Telecoms Sector

Technology3 years ago

NCC, FIRS Inaugurate Joint Committee to Boost National Revenues in Telecoms Sector

The Nigerian Communications Commission (NCC) and the Federal Inland Revenue Service (FIRS) have taken their collaboration a notch further by setting up a Joint Committee of...

How MTN revenue rose 22% to N470bn in Q1, by CEO Karl Toriola

Finance3 years ago

MTN taxes to govt gulped 45.9% of its 2021 revenues

Leading telecoms operator in the country, MTN Nigeria has revealed that its paid 45.92 per cent of its total revenue in 2021 as taxes into government...

Economy3 years ago

FIRS raked in N650bn revenue in June

FIRS raked in N650bn revenue in June The Federal Inland Revenue Service (FIRS) has reported that it collected N650 billion in revenue for the...

Court Fines Multichoice N150m over Tariff Hike, Orders One Month Free Subscription The Competition and Consumer Protection Tribunal has fined the prominent Pay-TV operator, Multichoice Nigeria, owners of DSTV, GOTV, N150 million for disputing the court’s jurisdiction, and ordered the company to provide Nigerians with a one-month free subscription to its subscribers. A three-man panel led by Thomas Okusu gave the verdict on Friday. The tribunal had previously blocked Multichoice from raising subscription fees without proper notice, based on a lawsuit by Barrister Festus Onifade who claimed the eight-day notice given for the price increase was inadequate. Onifade had sued DSTV, accusing the Pay-TV of unjustly increasing subscription fees without one month’s notice to customers and leveraging on it to seek interim orders. Counsel for Multichoice had contended that previous rulings had settled price regulation issues, while Onifade focused on the inadequate notice rather than the price hike itself, prompting the tribunal to affirm its jurisdiction and rule against Multichoice. Court Fines Multichoice N150m over Tariff Hike, Orders One Month Free Subscription The Competition and Consumer Protection Tribunal has fined the prominent Pay-TV operator, Multichoice Nigeria, owners of DSTV, GOTV, N150 million for disputing the court’s jurisdiction, and ordered the company to provide Nigerians with a one-month free subscription to its subscribers. A three-man panel led by Thomas Okusu gave the verdict on Friday. The tribunal had previously blocked Multichoice from raising subscription fees without proper notice, based on a lawsuit by Barrister Festus Onifade who claimed the eight-day notice given for the price increase was inadequate. Onifade had sued DSTV, accusing the Pay-TV of unjustly increasing subscription fees without one month’s notice to customers and leveraging on it to seek interim orders. Counsel for Multichoice had contended that previous rulings had settled price regulation issues, while Onifade focused on the inadequate notice rather than the price hike itself, prompting the tribunal to affirm its jurisdiction and rule against Multichoice. The court subsequently fixed July 3 for a hearing of the plaintiff’s substantive suit.

Featured3 years ago

FIRS hunts MultiChoice over N1.8trn evaded VAT since inception

FIRS hunts MultiChoice over N1.8trn evaded VAT since inception The Federal Inland Revenue Service (FIRS) has raised alarm over the level of non-compliance by...

No hiding place for fake tax certificate issuers and holders

Economy3 years ago

No hiding place for fake tax certificate issuers and holders, FIRS bellows

No hiding place for fake tax certificate issuers and holders, FIRS bellows The war against fraudsters who specialise in producing and selling fake Tax...

FG Collects N185BN Taxes from Traders, Mechanics despite Economic Challenges

Economy3 years ago

FIRS launches TaxPro-Max, a naira tax-filing online platform

FIRS launches TaxPro-Max, a naira tax-filing online platform As part of its efforts at modernizing tax administration in the country, the Federal Inland Revenue...