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Why we're targeting N16bn revenue this year — Chairman, Borno IRS


Mon May 24 2021
Mohammed Alkali is the Executive Chairman of the Borno State Internal Revenue Service (BO-IRS). Here, he explains the changes carried out to improve accountability and efficiency in the service.
 
You worked with the Federal Inland Revenue Service (FIRS) before your appointment as Executive Chairman of BO-IRS. How did you meet BO-IRS?
We found it doing well, but there were gaps which should have been closed. In fact, what we are doing now is to build on what they were doing and try to close some of the gaps. We discovered that there were gaps in terms of compliance with the relevant acts, as well as in human resources, because there were only 113 employees, and the last time a recruitment exercise was conducted was 20 years ago despite the fact that the work and the scope of the service was expanded. So, we immediately engaged 88 ad hoc personnel, mostly graduates in business-related courses, including economics, finance, banking and statistics, in ....

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What Michael Jackson's taxes tell us about IP Valuation


What Michael Jackson’s taxes tell us about IP Valuation
05-05-2021
12-09-2016
The dispute over the pop star’s estate highlighted the need for a more systematic method of valuing intangible assets, argues Roya Ghafele of OxFirst.
On May 3, US courts offered further insights on the valuation of IP. The decision of US Tax Court Judge Mark Holmes ended a seven-year dispute between the Internal Revenue Service (IRS) and the managers of Michael Jackson’s estate. The disagreement arose after a sharp difference in opinion on how much tax Jackson’s estate owed the government.
According to the IRS, Jackson’s brand and reputation was worth about $160 million. The defendants argued that the late singer’s IP was worth not more than £3 million. The court ruled that the value of Jackson’s name and likeness was just over $4 million, significantly reducing the amount of tax owed to the government. ....

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Shad Muhammad appointed BTAA chairperson


Shad Muhammad appointed BTAA chairperson
National
February 10, 2021
ISLAMABAD: Federal Board of Revenue (FBR) has appointed Shad Muhammad, a retired BS-21 officer, as acting chairperson, Benami Transaction Adjudicating Authority (BTAA).
According to FBR notification issued here Tuesday, Shad Muhammad a retired BS-21 officer of Inland Revenue Services has presently posted as Member, BTAA. He assumed the charge of the post. ....

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