latest
Tinubu Government Holds Talks With KPMG To Clarify New Tax Laws.
According to Nivo News, the Federal Government on Monday held a high-level meeting with executives from the global professional services firm, KPMG, to address concerns arising from the implementation of Nigeria’s new tax laws. The meeting, which took place in Abuja, followed widespread discussion among the business and professional community regarding the implications of the new tax framework on companies and taxpayers.....KINDLY READ THE FULL STORY HERE▶
The engagement came after KPMG Nigeria released a report titled “Nigeria’s New Tax Laws: Inherent Errors, Inconsistencies, Gaps and Omissions,” highlighting issues related to the taxation of shares, treatment of dividends, obligations of non-resident entities, and foreign exchange deductions. The firm warned that certain provisions could negatively impact businesses and called for a review to address what it described as “errors, inconsistencies, gaps, omissions, and lacunae” in the legislation.
While the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, defended the reforms, asserting that KPMG had misunderstood the objectives of the policy, Monday’s meeting allowed the Executive Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji, to provide clarifications on the contested areas. The explanations reportedly helped resolve ambiguities and offered insight into the government’s intentions behind the tax laws.
Following the discussions, KPMG acknowledged that its initial position had been misconstrued, expressed regret over the misunderstanding, and requested further clarifications on some provisions. Both parties agreed that continued engagement would be essential to resolve ongoing issues and ensure smooth implementation of the reforms.
The KPMG delegation also commended Dr. Adedeji for his leadership and the timely rollout of the tax laws, noting that many of their initial concerns had been addressed. In a statement shared on , the Nigeria Revenue Service confirmed that the firm recognized the reforms as “necessary and timely” and pledged ongoing professional collaboration to support effective tax administration and national economic growth.
latest
Don’t Burn Tyres On New Roads — FERMA Begs Abia Residents.
The Federal Road Maintenance Agency (FERMA) has appealed to residents of Abia State and other road users along the Aba–Azumini highway to protect the newly completed road from activities that could damage it.....KINDLY READ THE FULL STORY HERE▶
latest
Correctional Service Declares Escaped Yobe Inmate Wanted Nationwide.
The Nigerian Correctional Service (NCS), Yobe State Command, has declared a 30-year-old inmate wanted after he escaped following a road accident involving a prison transport vehicle.....KINDLY READ THE FULL STORY HERE▶
latest
Court Orders UI To Reinstate Students Suspended Over Fee Hike Protest.
The Federal High Court sitting in Ibadan, Oyo State, has ordered the University of Ibadan (UI) to reinstate three students suspended over their participation in a protest against tuition fee hikes.....KINDLY READ THE FULL STORY HERE▶
-
latest8 months ago“Social Media Erupts As Jim Iyke Declares Rita Dominic Nollywood’s Most Beautiful”
-
latest2 years agoEdo Political Showdown: Oshiomhole Appears At Presidential Villa As Tinubu Hands APC Gubernatorial Flag To Okpebholo (Photos & Video)
-
entertainment2 years agoLove Knows No Age American Woman Defends Marriage To Young Nigerian Man “I’m Not 70”
-
latest2 years agoOlumide Akpata Strikes Again: Drops Killer Track, Sends Edo State Into Frenzy!(Video)
-
Politics2 years agoNigerians React As Pastor Adeboye Foresees Passing Away On A Sunday After Enjoying A Satisfying Meal Of Pounded Yam
-
latest2 years agoFG Identifies 31 States At Risk Of Heavy Flooding In 2024: See Full List
-
Politics2 years agoBREAKING: Inspector-General Of Police Summons Top Police Commanders For Crucial-Security Challenges
-
latest2 years ago5 NYSC Corpers Perish In Fatal Road Accident Returning From Camp
