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Delta inaugurates taskforce on revenue leakages

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In a bid to discourage illegal revenue agents from defrauding the Delta State Government and members of the public, a joint task force to help secure all revenue leakages was on Thursday inaugurated in Asaba, the state capital.
The joint task force is segmented into two, the Taskforce Committee to checkmate revenue leakages with Mr Malachi Monye as its Field Coordinator, and the Local Government Revenue Collectors’ Committee on Haulage, with Mr Kenneth Efeizomor as Field Coordinator.
Performing the inauguration, the Chairman of the State Internal Revenue Service, Sir Monday Onyeme charged members of the task force to be good ambassadors of the state by checking the unwholesome activities of revenue agents in order to shore up the state’s internally generated revenue profile. ....

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LIRS extends deadline for individual tax returns' filling

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Published 1 April 2021
Lagos State Internal Revenue Service has extended the deadline for filing of individual annual tax returns by two weeks starting from April 1 to April 14, 2021.
It said in a statement titled ‘LIRS extends deadline for filing of individual annual tax returns to April 14, 2021’, that this was in furtherance of its commitment to continuously mitigate the effect of COVID-19 pandemic on taxpayers in Lagos State.
In accordance with the provisions of Section 41 of the Personal Income Tax Act LFN 2004 as amended, it stated, all taxable person(s), including self-employed, employees, professionals, in Lagos State should file their individual annual tax returns for 2020 year of assessment. ....

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Lagos IRS extends deadline for filing of individual annual tax returns

Lagos IRS extends deadline for filing of individual annual tax returns
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Number plates: Motorists decry cumbersome issuance procedures, urge authorities to ease bottlenecks

Corps Marshal, Federal Road Safety Corps (FRSC), Dr Boboye Oyeyemi PHOTO: TwitterMany motorists in parts of the North-Central and Taraba have decried the cumbersome procedures involved in the issuance of Number Plates and Driving Licences, describing the process as “time-consuming”.
The stakeholders, who spoke to the News Agency of Nigeria (NAN) urged that the protocols be relaxed to enable them obtain the documents with ease.
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In Jos, a motorist, Godwin Adewale, complained about the cumbersome and long procedures involved in obtaining a new number plate.
Adewale, therefore, urged all the relevant agencies in charge of the exercise to make the process less cumbersome “to enable us to invest our time in other human endeavours”. ....

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Stamp duty reform under Finance Act: market update on impact of cross-border transactions

Introduction
The Finance Act s enactment in January 2020 was heralded as a milestone event due to the far-reaching amendments it made to several tax statutes.
The Stamp Duties Act is one of the tax statutes amended by the Finance Act, the first amendment since the law was enacted in 1939.(1) The main amendments to the Stamp Duties Act are the introduction of electronic documents as chargeable instruments and providing for electronic receipts and electronic stamping.
(2)These amendments clearly demonstrate the government s aim of increasing government revenue by taking into account the impact of technological advancements on commercial transactions. In addition, on 30 June 2020 the federal government inaugurated an Inter-Ministerial Committee on Recovery and Audit of Stamp Duty and announced its intention to position stamp duty as the next major revenue source for Nigeria as oil and gas revenues continue to dwindle due to a global fall in demand and price. ....

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