CWG Plc, one of Nigeria’s leading information and communication technology solutions and service providers has recorded a profit after tax (PAT) of N487 million in its 2020 result, representing an increase of 570 per cent when compared to N72.7 million posted in 2019. In its unaudited financial statement for the period ended December 2020, the
Guaranty Trust Bank (GTB) Plc posted a profit before tax (PBT) of N56.984 billion for the first quarter (Q1) March 31, 2019, showing an increase of 8.3 per cent, compared with the N52.624 billion recorded in the corresponding period of 2018. Profit after tax (PAT) rose 10.37 per cent N44.67 billion in 2018 to N49.302
The Federal Inland Revenue Service (FIRS) aims at pulling a total of N750 billion from about 55,000 millionaire tax debtors this year. This was made known recently in Abuja by the FIRS Chairman, Mr. Tunde Fowler, while addressing the House of Representatives joint committees on Finance, Appropriations, Aids, Loans and Debt Management, Legislative Budget and
Nigeria and other African countries could increase tax revenue by as much as $72 billion or 4.6 per cent of Gross Domestic Product (GDP) yearly if comprehensive tax reforms are carried out, the Economic Commission for Africa (ECA) says. The proposed comprehensive tax reform is one of the recommendations in the 2019 Economic Report on
The Securities and Exchange Commission (SEC) has asked all Capital Market Operators (CMOs) and Public Limited Company (PLCs) to strictly comply with a new executive order on Taxpayers on Voluntary Assets and Income Declaration Scheme (VAIDS) or face penalty. The Executive Order on VAID signed by the Acting President Prof. Yemi Osinbajo on June 29,
The Federal Inland Revenue Service on Monday sealed off four companies in Lagos and Port Harcourt over their alleged failure to meet their tax obligations totaling N630m. The affected firms include Charcoal and Spices Restaurant Limited, GRA, Port Harcourt, and Cioscon Nigerian Limited, Aba Road, Port Harcourt. The leader of the FIRS enforcement team, Mrs.
Tax Compliance Rate In Nigeria Is About 12%. Multiple Taxation In Nigeria Is a Big Problem Tax Authorities Have General Responsibility To Educate People Taiwo Oyedele is the Head, Tax Regulatory Services, at PwC Nigeria (the world’s leading professional services firm with presence in over 150 countries). Taiwo has been in the forefront as a
