Tax

Nigerian finance minister says country needs to tap its non-oil revenues

Posted on by The Editorial Team
Nigerian finance minister says country needs to tap its non-oil revenues

ABUJA (Capital Markets in Africa) – Nigeria plans to get out of recession by boosting government revenues and cracking down on corruption, Finance Minister Kemi Adeosun said on Thursday, and will also issue more international debt to pay for infrasturcture projects. The country is in its second year of recession, brought on by lower oil prices, which have slashed government revenues, weakened the currency and caused dollar shortages frustrating business and households. World Bank chief…

Read More

Africa is still a difficult region for paying taxes – PwC

Posted on by The Editorial Team
Africa is still a difficult region for paying taxes – PwC

JOHANNESBURG (Capital Markets in Africa)  — Economies around the world continue to make progress in simplifying and reducing the burden of tax compliance on business, according to the latest edition of Paying Taxes 2017, a report by the World Bank Group and PwC (www.PWC.com). Download the report: http://www.APO.af/PwC Released today, the report finds that the Total Tax rate decreased by 0.1 percentage points to 40.6 percent; time to comply declined by 8 hours to 251…

Read More

Nigeria hunts down 700,000 firms in tax crackdown to offset oil slump

Posted on by The Editorial Team
Nigeria hunts down 700,000 firms in tax crackdown to offset oil slump

LAGOS, Capital Markets in Africa: Nigeria has hunted down 700,000 firms that have never paid taxes as the country seeks new revenue sources to offset low oil prices that have pushed Africa’s biggest economy into its first recession in more than 20 years, its tax chief said. Tunde Fowler, executive chairman of the Federal Inland Revenue Service (FIRS), said in a rare interview that he also expected 10 million individuals to be discovered by December…

Read More
1 2 3