CWG records N11.8bn Profit after Tax

Posted by - February 9, 2021

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

GTBank Records N50 Billion Profit after Tax

Posted by - April 18, 2019

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

FIRS targets N750bn from millionaire tax debtors

Posted by - April 3, 2019

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

Tax reforms hold $72b in extra revenue for Nigeria, others

Posted by - March 26, 2019

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

FIRS Shut Four Firms over N630m Tax Debt

Posted by - July 18, 2017

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.

Nigeria’s Tax System Urgently Needs Sensible Reforms – Taiwo Oyedele, Head of Tax and Regulatory Services, West Africa PwC

Posted by - July 5, 2017

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