Taxation in Nigeria - Taxation: News & Information

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“Sin Tax” Collections Down in Philippines

Collections of the so-called “sin taxes” levied on “sinful” products, such as cigarettes and alcohol, dropped in 2011, leading to calls for a reform of the excise tax system.

“Sin Tax” CollectionIndia Delays Tax Changes

India will aim to boost the confidence of international entrepreneurs investing in India by delaying the implementation of new anti-avoidance rules and reducing withholding taxes and excise duties.

ID Thieves in USA Steal $26 Mil of Refunds

More than 600 000 US taxpayers were victims of identity tax fraud in 2011, and the IRS does not have the capabilities to adequately detect and prevent such offenses.

One Third of Taxes in Australia to Fund Welfare System

Almost AUD 100 from the tax payments made every week by an average Australian will now go directly to funding national welfare programs to subsidies low income families.

US Considers Business Tax Reforms

The Obama administration has proposed a major update of the corporate tax rules in the USA, which would broaden the base for corporate taxes, simplify compliance, reduce the corporate tax rate, and encourage a greater level growth in the country’s manufacturing sector.

Mar 20, 20120

Nigeria Needs Effective New Tax Treaties

Categories: International Tax Cooperation, Taxation in Nigeria

ABUJA – Nigeria needs to improve its use of double taxation agreements, and the government needs to concentrate on ensuring that all future tax agreements are effective and beneficial to the country. While delivering a speech on March 19th at a workshop on tax treaties in Abuja, the Minister of Finance of Nigeria Ngozi Okonja-Iweala [...]

ABUJA - Nigeria needs to improve its use of double taxation agreements, and the government needs to concentrate on ensuring that all future tax agreements are effective and beneficial to the country. While delivering a speech on March 19th at a workshop on tax treaties in Abuja, the Minister of Finance of Nigeria Ngozi Okonja-Iweala said that the country must continue its ongoing efforts to “… reform our tax system for Nigeria’s competitiveness in the global economy,” and explained that an effective ... Read More

Oct 15, 20100

UK Banks Propping Up Nigerian Corruption

Categories: Taxation in Nigeria, Taxation in UK

Major UK banks are being accused of actively aiding corruption and spreading poverty in Nigeria by holding accounts and accepting transactions from corrupt politicians. A new report by the UK anti-corruption group Global Witness has condemned Barclays, HSBC Bank, the Royal Bank of Scotland, NatWest and UBS for holding accounts and processing transactions of two Nigerian politicians. Allegedly, between 1999 and 2005 the banks accepted millions of pounds in transactions and deposits into accounts held by the Nigerian politicians Diepreye Alamieyeseigha, former governor ... Read More