National News
FIRS to tax goods, services imported by non-resident companies
FIRS to tax goods, services imported by non-resident companies
The Federal Inland Revenue Service (FIRS) has said it will begin to tax goods or services brought into Nigeria by non-resident companies.
The agency, in a statement weekend, signed by Johannes Oluwatobi Wojuola, its Special Assistant to the Executive Chairman (Media & Communication), said it would use the instrumentality of the Finance Act 2021, through collaboration with taxpayers and key stakeholders to raise income for Nigeria.
The Executive Chairman of the FIRS, Muhammad Nami, was quoted to have made the statement on Thursday while delivering the keynote address at the KPMG’s Webinar on Nigeria’s 2022 Budget and the Finance Act 2021.
Nami said, “In the past, situations abound where certain goods or services streamed into Nigeria by non-resident companies, especially to consumers (B2Cs), were not subject to VAT. This raised the issue of equity, as goods and services offered by domestic companies are subject to VAT.
“With the amendment of Section 10 of the VAT Act and our publication of the ‘Guidelines on Simplified VAT Compliance Regime for Non-Resident Suppliers’, there is now a mechanism for applying VAT on such goods or services, affording the same tax treatment to both local and foreign supplies.
“Similarly, companies deriving income from Nigeria without physical presence can now be assessed, like other companies with a physical presence, on a fair and reasonable percentage of their turnover in line with Section 30 of CITA.”
On the automation of tax processes, the FIRS Executive Chairman noted that “with the amendment of Section 25 of the FIRS Establishment Act, the Service can now deploy either proprietary or third-party developed technologies for tax administration.”
“Those that may still stand in the way of achieving this objective will now be liable to a daily penalty of N25,000,” it added.
“With the extension of secrecy and confidentiality requirements to other persons, like service providers, vendors and consultants of the Service, the fear of taxpayers are further allayed on the secrecy and confidentiality of their commercial and other information,” it said.
Muhammad Nami further noted that with the amendment to Section 68 of the FIRS Establishment Act by the Finance Act, complaints from taxpayers about multiple agencies of government demanding payment of tax from them has been addressed.
He said, “This unfortunate situation is not in line with the national tax policy thrust and was causing confusion for our taxpayers and increasing their cost of compliance.
“However, the amendment to section 68 of the FIRS Act by the Finance Act 2021 has made it clear that FIRS is the only agency responsible for tax assessment, collection and enforcement.
“As such, taxpayers are to expect a streamlined tax administration regime going forward.”
Four Soldiers Injured in Vehicle Accident on Mambilla Plateau
By: Zagazola Makama
Four Nigerian soldiers have sustained injuries in a vehicle accident on the Mambilla Plateau in Taraba State.
The accident occurred on Thursday while the troops were moving across the mountainous terrain of the area, Zagazola reports.
The Emir of Mambilla, Dr. Shehu Audu Baju, was said to have personally joined in the rescue operation to ensure that the soldiers received prompt assistance.
Following the rescue, the injured personnel were evacuated to the 20 Battalion Barracks in Serti for urgent medical care.
Community members and traditional leaders in the area have expressed sympathy and prayed for the speedy recovery of the soldiers, while also calling for the safety of other security operatives on duty.
Four Soldiers Injured in Vehicle Accident on Mambilla Plateau
UKNIAF, NGF Advance Electricity Reform with Nationwide Workshop Series
By: Michael Mike
The United Kingdom Nigeria Infrastructure Advisory Facility (UKNIAF), in partnership with the Nigerian Governors’ Forum (NGF) have wrapped up a major national initiative to support State-led electricity market reforms.
The State Learning Workshop Series focused on Electricity Market Development, Integrated Resource Planning (IRP) and energy modelling software.
Workshops in Lagos, Calabar, Kano and Jos have been successfully completed, drawing participants from all the 36 States and the FCT and setting a strong precedent for what lies ahead.
These sessions equipped policymakers, regulators and stakeholders with the tools to design robust, sustainable and investor-ready electricity markets at the State level, in line with the provisions of the Electricity Act 2023.
Reflecting on the significance of this initiative, the Director-Legal/Head Power Desk at the Nigerian Governors’ Forum, Mr. Chijioke Chuku,, stated that: “Nigeria’s electricity future depends on the capacity of our States to lead with vision, clarity, and technical precision. Through the workshop series, we are equipping States not just with knowledge, but with the confidence to take charge of their electricity markets. The NGF is proud to partner with UKNIAF in ensuring that the promise of the Electricity Act 2023 becomes a lived reality across the country.”
The sessions in the State Learning Workshops covered: The legal and regulatory pathways for setting up State Electricity Markets; Commercial models for private sector investment; Integration of State plans into Nigeria’s National IRP;
Practical training on the software platform for energy modelling.
The initiative drew from lessons learned in the course of UKNIAF’s work supporting the Akwa Ibom, Enugu, and Oyo State Governments—early movers in electricity market development—in setting up their markets.
It also drew from experience gained in the course of UKNIAF providing technical support to the Federal Ministry of Power in drafting both the National Integrated Electricity Policy and Nigeria’s first National Integrated Resource Plan, both of which were approved very recently.
With States now empowered by the Electricity Act 2023, this series is a timely and strategic effort to ensure capacity, coordination, and sustainability in Nigeria’s decentralised energy landscape.
UKNIAF, NGF Advance Electricity Reform with Nationwide Workshop Series
Three killed, others injured in bandits’ attack on Zamfara community
By: Zagazola Makama
Armed bandits have killed three persons and injured three others in an attack on Galadi town, Shinkafi Local Government Area of Zamfara.
Sources confirmed the incident saying the attack occurred at about 10:50 p.m. on Aug. 27.
The sources said the bandits stormed the town, shooting sporadically, which resulted in the deaths and injuries.
Troops of Operation FANSAN YANMA were mobilised to the scene. The corpses and injured victims were evacuated to Galadi Primary Health Care Centre for autopsy and treatment.
Meanwhile, a manhunt for the fleeing culprits has been intensified, as the bandits escaped before the arrival of the joint forces,” the sources said.
Three killed, others injured in bandits’ attack on Zamfara community
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