பெட்ரோலியம் ப்ராஃபிட்ஸ் வரி நாடகம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Stay updated with breaking news from பெட்ரோலியம் ப்ராஃபிட்ஸ் வரி நாடகம். Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.

Top News In பெட்ரோலியம் ப்ராஃபிட்ஸ் வரி நாடகம் Today - Breaking & Trending Today

Taxation Without Justification?

This question is prompted by the news of the huge tax bill (N248 million, reduced from an initial sum of N1.2 billion) recently slammed by the Tax Appeal Tribunal on a former President of the Nigerian Bar Association, Chief J.B. Daudu, SAN. Reportedly made up of arrears of Withholding Tax and Value Added Tax, for the years 2010 – 2017, the said assessment is virtually unprecedented, at least for a professional – let alone a legal practitioner of Chief Daudu’s stature. Accordingly, few would be surprised if he fights it all the way to the Apex Court.
I believe the news brings to the fore, the taxing powers of the National Assembly under the Constitution. This appears to be straight forward enough, at least if the provisions of Item 59 of the Exclusive Legislative List are anything to go by. Read along with Section 4(3) of the Constitution, they simply state that the National Assembly shall have the exclusive power to legislate on “taxation of profits, incomes and capita ....

Bendel State , Nigeria General , Lagos State , Rivers State , James Chen , Adam Hayes , Revenue Service , Revenue Service Establishment , National Assembly , Apex Court , Petroleum Profits Tax , Companies Income Tax , Supreme Court , Nigerian Bar Association , High Court , Tax Appeal Tribunal , Withholding Tax , Value Added Tax , Chief Daudu , Exclusive Legislative List , Federal Inland Revenue Service , Federal Board , Inland Revenue , Companies Income Tax Act , Petroleum Profits Tax Act , Personal Income Tax Act ,

PIB Passage Will See Changes to Oil Companies' Taxes, Says Ahmed

By Nume Ekeghe
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed has said the passage of the Petroleum Industry Bill (PIB) currently being considered by the National Assembly will lead to changes to taxation in the industry and generate more funds to the federal government.
She said this yesterday in her welcome address at the virtual public consultation for the Finance Act, 2020.
She also disclosed that economic activities in the country had started recovering gradually, saying the federal government has adopted appropriate counter-cyclical fiscal policies to accelerate economic recovery.
Ahmed explained: âIt is important to note that the tradition of enacting annual Finance Bill does not preclude the need for more fundamental legislative reforms to our key taxing statutes. ....

Zainab Ahmed , Nume Ekeghe , Company Income Tax , National Assembly , Petroleum Industry Bill , National Planning , Petroleum Profits Tax , Oil Gas Export Free Zone , Finance Act , Finance Bill , Petroleum Profits Tax Act , Personal Income Tax , Company Income Tax Act , Capital Gains Tax Act , Stamp Duties Act , Gas Export Free Zone Act , Excise Tariff , Value Added Tax Act , நிறுவனம் வருமானம் வரி , தேசிய சட்டசபை , பெட்ரோலியம் தொழில் ர சி து , தேசிய திட்டமிடல் , பெட்ரோலியம் ப்ராஃபிட்ஸ் வரி , எண்ணெய் வாயு ஏற்றுமதி இலவசம் ஸோந் , நிதி நாடகம் , நிதி ர சி து ,

Finance Act 2020: Highlights Of Latest Developments In Nigeria's Tax Regime - Tax

A. OVERVIEW
President Muhammadu Buhari signed the Finance Act 2020 into law
on December 31, 2020. The new legislation followed hot on the heels
of the Finance Act 2019
1 which amended several tax
statutes. The Finance Act 2020 was enacted in furtherance of the
Federal Government s progressive reform of the business climate
in Nigeria, and the need to constantly restructure the tax system
to align and conform same with international best practices, and
make it respond effectively to the changing socio-economic
landscape.
Specifically, the Finance Act 2020 amended fourteen (14)
principal tax and tax-related legislation. The thrust of the
legislation includes boosting government revenue, preventing base
erosion, streamlining areas of regulatory conflict and clarifying ....

Abuja Federal Capital Territory , Muhammadu Buhari , Revenue Service , Revenue Service Establishment , National Assembly , Funds Trust Fund , Central Bank , Petroleum Profits Tax , Companies Income , Debt Management Office , Unclaimed Funds Trust Fund , Exchange Commission , V Companies Income Tax Act , Revenue Fund , Crisis Intervention Fund , Tertiary Education Trust Fund Act , Industrial Development Income Tax Relief , Finance Act , Federal Government , Funds Trust , Crisis Intervention , Appropriation Act , Responsibility Act , Federal Republic , Unclaimed Funds Trust , Governing Council ,

Understanding the tax legislations in Nigeria's Finance Bill 2020

ON THE GO
ABCON: 26 BDC operators arrested over ‘money laundering, terrorism financing’
The Association of Bureau De Change Operators of Nigeria (ABCON) says 26 members have been arrested by security operatives, over alleged unlawful foreign exchange (FX) transactions.Advertisement Aminu Gwadabe, president of.
Makinde: For blocking governance loopholes, I’ve received threats over 2023 ambition
Seyi Makinde, governor of Oyo, says he has received threats over the forthcoming 2023 governorship election in the state, because he has blocked loopholes in the system.Advertisement According to a.
NPHCDA: 374,585 Nigerians have received COVID vaccine over 90,000 in Lagos
The National Primary Health Care Development Agency (NPHCDA) says the number of Nigerians who have received the COVID-19 vaccine has exceeded 350,000.Advertisement The agency disclosed this in an update on. ....

Muhammadu Buhari , Revenue Service , National Assembly Or States Houses Of , Deployment Of Technology , Atlantic Petroleum Limitedv Attorney , Production Nigeria , Sons Company Ltd , Senate Committee , Industrial Development Income Tax Relief Act , See Earth Moving International Ltd , Tertiary Education Trust Fund , Federation Ors , May Holdings , Revenue Service Establishment , National Assembly , Companies Income Tax Act , Real Estate Investment Companies , Ibile Holdings All , Crisis Intervention Fund , Company Income Tax , Session Of The National Assembly , Industrial Development Income Tax Relief , Federal Executive Council , Finance Bill , Federal Government , Finance Acts ,

Hurdles Before Proposed Oil Licensing Round

Chineme Okafor writes about a new legal action by community leaders in Niger Delta who want their environmental challenges addressed before fresh licences can be handed out for the 57 marginal oil blocks up for grabs in a new licensing round
A number of community leaders in the oil-bearing Niger Delta region have expressed worries over the damages irresponsible oil mining has done on their lives and environment over the years, and now want these addressed before new licenses would be issued in Nigeria’s ongoing marginal oil fields bid round.
They stated this in a lawsuit they filed at the Federal High Court (FHC) in Yenagoa, capital of Bayelsa state. ....

Niger Delta , Nigeria General , Cross River , Abuja Federal Capital Territory , Ekemburu Obonoma , Timipre Sylva , Adati Kadafa , Anna Bruederle , Chineme Okafor , Roland Hodler , Etiama Nembe , Response Agency , Shell Petroleum Development Company , Petroleum Resources , Product Marketing Company , Petroleum Industry Bill , Swiss Institute For International Economics , University Of St , Petroleum Industry Bills , Department Of Petroleum Resources , Nigerian National Petroleum Corporation , Petroleum Profits Tax Act , Nigerian Oil Spill , Nigerian Petroleum Development Company , National Oil Spill Detection , High Court ,