Category: Taxation

TAX WATCH – REMINDER ON ANNUAL TAX RETURNS

Dear  Taxpayers, In line with our usual practice, we will like to remind you the need to file your annual tax returns at the appropriate time, in order to avoid unnecessary penalty and interest. In line with S 55 (2) of the Company Income Tax Act, “Subject to this Act or any regulation made, the […]

TAX WATCH: DEDUCTION OF VAT AT SOURCE AND ITS IMPLICATION

Value Added Tax (VAT) is a type of tax imposed on consumption of goods and services in Nigeria. Therefore, it can also be referred to as consumption tax. It is administered in accordance with the Value Added Tax Act, 2007 (see S 1 of Value Added Tax Act, 2007). It is chargeable at the rate […]

TAX WATCH-WITH A NEW EXECUTIVE ORDER, PRESIDENT BUHARI TIGHTENS TAX, MONEY LAUNDERING RULES

The Muhammadu Buhari administration is stepping up the regulations on money laundering and tax evasion by releasing a new Executive Order number eight, tagged Voluntary Offshore Assets Regularization Scheme (VOARS). The new Executive Order (008) takes effect from Monday, October 8, 2018, the day it was signed by President Muhammadu Buhari. By this order, Nigerian […]

TAX WATCH : “FIRS GOING AFTER BILLIONAIRE TAX DEFAULTERS’ BANK ACCOUNTS” – TUNDE FOWLER

“FIRS GOING AFTER BILLIONAIRE TAX DEFAULTERS’ BANK ACCOUNTS” – TUNDE FOWLER The Federal Inland Revenue Service (FIRS), will soon go after the bank accounts of defaulting taxpayers who are raking in billions in Nigeria and are not paying taxes, FIRS Chairman, Tunde Fowler has said. In doing that, FIRS, through all banks in the country, will […]

TAX WATCH

‘Wale Folorunsho Dear esteemed followers, please find below the list of 27  industries newly added to the pioneer list in Nigeria.   To follow us more, you can now subscribe to our blog newsletter by inputting your email address at the bottom part of our homepage at www.habileconsulting.com Steps: go to the above web address […]

TAX WATCH

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FEDERAL GOVT POLICY ON TAX- *VOLUNTARY ASSET AND INCOME DECLARATION SCHEME CONTD

  ‘Wale Folorunsho “….but in this world nothing can be said to be certain, except death and taxes”  Benjamin Franklin   VAIDS download in pdf Introduction It is no longer news that federal government of Nigeria on Thursday 29th June, 2017 launched its voluntary asset and income declaration scheme (VAIDS) to broaden the country’s tax base […]

Dear valued followers,   It is the pleasure of Habile Consulting to discuss this edition with you. You will recall that we promised in our last edition of the programme that we shall be discussing types of taxes with you one after the other. Please, feel relax to enjoy the episode.       Company […]

FEDERAL GOVT POLICY ON TAX- *VOLUNTARY ASSET AND INCOME DECLARATION SCHEME

The federal government on Thursday launched its voluntary asset and income declaration scheme (VAIDS) to broaden the country’s tax base and offer incentives for tax evaders. The scheme was backed by an executive order by Acting President Yemi Osinbajo. Here is the full text of the executive order: “Whereas the Constitution imposes a duty on […]