How to File for Value Added Tax (VAT) on FIRS TAXPROMAX
All companies must file their VAT returns on or before the 21st day of the following month.The provisions of the Finance Act of 2020 allow the Federal Inland Revenue Service (FIRS) to automate the filing and payment of tax returns, and as a result, the FIRS has launched the TaxProMax application.The software serves as a […]
Power of FIRS in tax administration
The Federal Inland Revenue Service (FIRS) is empowered by Section 8 of the FIRS Act to assess individuals, including businesses and enterprises, and to collect, account for, and compel payment of any taxes that may be owed to the government or any of its agencies.The FIRS can order anyone, including a bank, to pay funds […]