TAX EXCURSION WITH DR. JEROME

Brief introduction of the common taxes paid by individuals and corporate bodies in Nigeria. A listing of the various taxes imposed by law on individuals and businesses in Nigeria would readily create an impression of multiple taxation or over-taxation. This, in fact, is usually topmost in the complaints of the general public about Nigerian taxation.…

TAX SUBSTITUTION: WHAT THE LAW SAYS AS FIRS SEEKS TO RECOVER TAXES THROUGH COMMERCIAL BANKS

Dr. Jerome Okoro* INTRODUCTION Following its earlier expression of interest to go after alleged tax defaulters with huge funds in Nigerian banks, the Federal Inland Revenue Service (FIRS) recently started issuing letters to commercial banks, appointing them as tax collection agents for such customers.[1]  The letters contain directives to the banks to freeze the named…