FIRS Federal Inland Revenue Service: Their Offices And Functions In Nigeria

• gmposts


• 28 Jun 2016

Th Federal Inland Revenue Service (FIRS) In Nigeria is the only government institution at the federal level saddled with the sole objective of collating and collection of  Federal Government Taxes across the country. In this review we would be looking at some of their major functions and objectives as a government Agency. Please read through in order to know your right as a citizen of the country and also to know your dues in your various places of work.

Functions Of FRSC Federal Inland Revenue Service

• Providing sustainable finance and funding for governance, public and social services and economic development.
• Promoting civic responsibility, patriotism by citizens and social responsibility by corporate citizens.
• Stimulating priority social and economic activities and sectors while discouraging less preferred ones.
• Bringing about the redistribution of wealth and bridging sharp disparities in living standards.
• Giving taxpayers the moral and legal right to demand for (thereby engendering) a culture of accountability.
• Serving as a gauge for measuring the level, growth and health of economic units and economic activities.
• Individuals and corporate organizations are conferred with definite benefits, rights and privileges in the system based on their tax compliance status.
• Tax compliance enables law abiding citizens to avoid the consequences, penalties and sanctions of non-compliance.

FRSC Zonal Coordinators And Their Contact Information

List Of Approved Tax Consultants

http://www.firs.gov.ng/Tax-Management/Pages/List-of-Tax-Consultants.aspx

Types Of Tax Payable To FRSC In Nigeria

1.    COMPANIES INCOME TAX (CIT).

Applicable tax law- Companies Income Tax Act. Persons subject to the Companies Income Tax:

• All companies incorporated in Nigeria with the exception of companies engaged in petroleum operations.
• All non-resident (foreign) companies that earn or derive income from Nigeria.
• All organizations limited by guarantee (institutions of public character or charitable organizations) engaged in profit making activities other than the promotion of their primary objects.
• The liquidator, receiver, or agent of liquidator or receiver of any taxable company or organization.

Where to pay the Companies Income Tax:

• Companies incorporated in Nigeria and organizations limited by guarantee pay Companies Income Tax through any of the designated banks. Once payment has been captured by the bank collecting system, an e-ticket is issued to the company, this e-ticket is proof of payment and when presented at the Integrated Tax Office with jurisdiction an e-receipt will be issued.
• Non-resident companies make payment through remittance of tax deducted at source to the designated banks.

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How to pay the Companies Income Tax

• Resident companies and organizations prepare and submit annual self-assessment tax returns as specified by FIRS accompanied by the evidence of the payment of the full amount or first installment of the tax due. Payment is made to designated banks
• Non-resident companies are subject to Withholding Tax (WHT) deductions on the income they earn from Nigeria. This becomes their tax upon filing returns.

2.    PETROLEUM PROFITS TAX (PPT)

3.    VALUE ADDED TAX (VAT)

4.    PERSONAL INCOME TAX (PIT)

5.    WITHHOLDING TAX (WHT)

6.    EDUCATION TAX (EDT)

7.    STAMP DUTIES (STD)

8.    CAPITAL GAINS TAX (CGT)

9.    NATIONAL INFORMATION TECHNOLOGY DEVELOPMENT FUND (NITDEF) LEVY

(FIRS) Federal Inland Revenue Service Offices In Nigeria

SOUTH WEST ZONE

SOUTH EAST ZONE

SOUTH SOUTH ZONE

NORTH CENTRAL ZONE

NORTH EAST ZONE

NORTH WEST ZONE

We hope you find this article informative. Please drop your comments/questions below and we would respond as quickly as we can.