KPMG highlighted 31 loopholes bordering on the identified shortcomings in the new tax law and suggested modifications.
Mr Ife noted that the newly established NRS now has the exclusive mandate to collect all petroleum-related taxes and royalties.
The president of the Chartered Institute of Taxation of Nigeria, Innocent Ohagwa, says the new tax reform will rather benefit the downtrodden than impoverish them.
Linkage Assurance Plc says it grew revenue by 18 per cent in Q1 2025, rising from N5.1 billion in 2024 to N6.1 billion.
LIRS warned that defaulters would face sanctions as required by law, stressing that meeting the deadline is a legal obligation.
Russia intends to spend the additional tax revenue on family, children and youth projects.
He said that the taxes would be affordable and according to the individual’s capability.
Binance and its executives were accused of deliberately evaded tax.
“With the support we received from the governor, the service has raised the bar for revenue generation.”
The minister said that Nigerians were happy that the government was reducing borrowing.’’
