The BUA Industries Limited has denied the allegation that it does not comply with Nigeria's Income Tax Laws and Value Added Tax Returns Remittance. SaharaReporters on Thursday reported that the Nigerian government through the Federal Inland Revenue Service (FIRS) issued a seven-day ultimatum to BUA Industries to reconcile with the government or pay N198.7 billion arising from non-compliance with income tax laws and VAT returns remittance. The tax liability is for 2022.
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Raksha Bandhan 2023: The gifts are taxable in the hands of the recipient under Section 56(2)(x) but gifts from certain specified relatives are outside the scope of this provision