Precious Nwonu, Enugu The Federal Government has introduced a new tax administration order that will reduce the interest charged on late payment of taxes from October 1, 2026. The Nigeria Tax Administration Order 2026 was signed by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, according to a statement by the … [Read more…]
The Academic Staff Union of Universities (ASUU) has asked the federal government to increase the Education Tax from the current 2.5 per cent to 10 per cent to enable Tertiary Education Trust Fund (TETFund) to mobilise more funds to adequately address the decay and challenges confronting the tertiary education sub-sector. This came as the federal … [Read more…]
The Federal Inland Revenue Service (FIRS) has claimed that the Federal Government would be hampered in funding the N16.9 trillion 2022 budget because Nigerians were not faithful in tax remittances. Chairman of the agency, Muhammad Nami, in a television interview, yesterday, said only N4.2trillion was collected as taxes in nine months, a figure … [Read more…]