FIRS STAFF ATTACK FOWLER OVER MISAPPROPRIATION

Babatunde Fowler, Executive Chairman of the Federal Inland Revenue Service A group, Concerned Staff of FIRS, have petitioned President Muhammadu Buhari over the atrocities and infractions allegedly perpetrated by the Executive Chairman of the Federal Inland Revenue Service, Babatunde Fowler. In an open letter, the group advised President Buhari not to re-appoint Fowler because the FIRS boss had “unimaginably taken it back to the old dark period of inefficient and ineffective days.” It also recommended that the activities of Fowler from the day he was appointed up to his last…

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FOWLER’S FIRS: A FAIR SCORECARD

By ROMANUS MBAH With the prices of oil tumbling drastically to $48.86 per barrel in October 2015, after which it slid further to $44.82 the following month and $37.80 in the last month of the year, the signs were bold signs that Nigeria was facing a major economic crisis. The implication of the slump in revenue derivable from oil, the major source of funding for country’s infrastructural and human development aspirations, was that the new administration of President Muhammadu Buhari had flown into the most inclement weather possible. Public expectations of…

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FIRS MOVES TO COLLECT VAT ON ONLINE TRANSACTIONS

The Federal Inland Revenue Service (FIRS) says it will soon begin collection of Value Added Tax (VAT) on online transactions. The Chairman of the agency, Mr Babatunde Fowler, made the disclosure in an interview with the News Agency of Nigeria (NAN) in New York on Saturday. Fowler said: “soon, we will ask banks to impose VAT on online transactions for purchases of goods and services. “Not that it is something new; it actually should be in existence. “We will certainly follow up to make sure that every VAT that is…

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FIRS GENERATES 1.5TRILLION IN FIRST QUARTER OF 2019 – FOWLER

The Federal Inland Revenue Service ((FIRS) generated N1.5 trillion revenue in the first quarter (Q1) of 2019, according to its Chairman, Mr Babatunde Fowler. Chairman of the Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler, addressing delegates at a high-level meeting on “International Cooperation to Combat Illicit Financial Flows and Strengthen Good Practices on Assets Return” convened by the United Nations General Assembly in New York at the weekend. Fowler disclosed this to the News Agency of Nigeria (NAN) in New York at the weekend. He said the amount included…

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1.2BIL NAIRA TAX: FORMER NBA PRESIDENT DRAGS FIRS TO TAX TRIBUNAL

The Tax Appeal Tribunal on Tuesday adjourned until July 17, hearing in the suit filed by Joseph Daudu, SAN, challenging alleged N1.2 billion error in taxation. Mr Daudu (appellant) said he was dissatisfied with Federal Inland revenue Service (FIRS) assessments of his Withholding Tax (WHT), Personal Income Tax and Value Added Tax (VAT) for the period from 2010 to 2017. Specifically, he expressed dissatisfaction with the decision to assess him with respect to WHT and VAT in the sum of N 1. 2 billion. He prayed the tribunal to restrain…

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FOWLER REACTS TO MEDIA ALLEGATIONS OF MISSING MILLIONS

CHAIRMAN of the Federal Inland Revenue Service, FIRS, Mr Tunde Fowler, yesterday, dismissed reports suggesting that money paid as taxes is missing from the agency’s coffers. Babatunde-Fowler FIRS Chairman Fowler made the clarification in an interview in his office in Abuja. The clarification came in the wake of media reports alleging that taxpayers’ money in the custody of the agency is missing. The FIRS boss explained that taxes collected by the FIRS are not paid into the coffers of the Service, but directly into the Federation Account, electronically, through the…

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NUMBER OF TAXPAYERS IN NIGERIA TO HIT 45MIL SOON- FIRS

The Federal Inland Revenue Service (FIRS) says the country’s taxpayers will soon increase to 45 million. Mr Wahab Gbadamosi, the Head, Communications and SERVICOM Department, in a statement in Abuja on Monday said the Executive Secretary, Joint Tax Board (JTB), Mr Oseni Elamah, disclosed this at the presentation of the new Taxpayer Identification Number (TIN) Registration System report. The report was presented to the Executive Chairman of FIRS, Babatunde Fowler, who is also the Chairman of the JTB. Elama said that as at December, 2018, Nigeria’s tax payers data base…

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FIRS TIGHTEN EXPENDITURE CONTROL: AFTERMATH OF 2.1BIL FRAUD

IFEANYI ONUBA The Federal Inland Revenue Service has tightened its expenditure control mechanism following an alleged N2.1bn fraud that rocked the organisation. A top official of the agency, who spoke on condition of anonymity, told our correspondent on Saturday that a memo had been issued to all departmental heads. He said  the move was aimed at  preventing  a recurrence of the kind of  fraud discovered three weeks ago by the Economic and Financial Crimes Commission in the agency. The EFCC reportedly arrested 40 senior management and junior  officials   for   the…

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HOW FG THROUGH FIRS INTENDS TO REALISE ITS 2019 REVENUE TARGET- FOWLER

The Federal Inland Revenue Service (FIRS) says it plans to realize its revenue target for the year through recoveries from defaulting millionaire taxpayers, values added (VAT) and compliance enforcement activities. The Chairman of FIRS, Tunde Fowler, said in January that the agency’s revenue collection target for 2019 was about N8 trillion. Mr Fowler told the House of Representatives joint committees on Finance, Appropriations, Aids, Loans and Debt Management Legislative Budget and Research and National Planning and Economic Development that he hopes about N750bn would be realized from about 55,000 defaulting…

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FIRS SUED 2BIL FOR SHUTTING DOWN COMPANY ILLEGALLY

Mr Bharat Vora, a Plaintiff, on Monday prayed a Federal High Court in Abuja to award him N2 billion against the Federal Inland Revenue Service (FIRS) for shutting his business. Vora, the Managing Director of Mutunci Company Nig. Ltd., also asked for the refund of N7 million that he paid FIRS to re-open his factory which they have failed to. The plaintiff, who was prosecution witness number three, and who was led in evidence by his counsel, Mr Sepirido Peters, identified the bundle of exhibits numbered 1-165 given to him…

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