Federal Government launches new international passport with 10 years validity
The Federal Government of Nigeria on Tuesday, 15 January 2019, unveiled the new Nigeria international passport with a 10-year validity.
RIRS launches electronic platform for taxpayers to manage their tax affairs
In keeping with the recent drive by revenue authorities to automate their processes, the Rivers State Internal Revenue Service (RIRS) has deployed the Rivers State Tax Management Information System (RIVTAMIS).
Deadline for filing of annual employers tax returns (Form H1)
Under the Personal Income Tax Act, every employer is statutorily required to submit employers’ tax returns (Form H1) with the relevant tax authority of all emoluments paid to its employees in the preceding year.
LIRS launches e-filing portal for submission of employers’ tax returns (Form H1)
Statutorily, under the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended), every employer is under obligation to file employers’ tax returns (Form H1) with the relevant tax authority of all emoluments paid to its employees in the preceding year. The timeline is not later than 31 January of every year.
Review of Combined Expatriate Residence Permit and Aliens Card fees
The Federal Ministry of Interior (FMI) recently confirmed approval by the Honourable Minister of Interior (the Minister) for the upward review of the Combined Expatriate Residence Permit and Aliens Card (CERPAC) fees from $1,000 to $2,000 per annum. The Minister also added that there would not be a further review of the CERPAC fees until three years after the implementation of the new fee. Further, it is expected that the review will not affect missionaries/student CERPAC fees. The review had already taken effect in December 2018 and branches of the only commercial bank designated to sell the forms are adhering strictly to the new price.
LIRS issues public notice appointing payers of capital sum as agents for collection of capital gains tax
Lagos State Internal Revenue Service (LIRS) recently appointed all payers of capital sums as Capital Gains Tax (CGT) collection agents, through a public notice, effective from 1 January 2019. LIRS specifically mentioned that employers are obliged to withhold CGT from amounts payable/paid to exited employees, as compensation for loss of employment, and remit same.