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Statutorily and administratively, the FIRS has the responsibility for the assessment, collection and accounting of taxes to the Government: [9] The timely provision and publication of accurate data and annual reports to the Federal Government of Nigeria and other stakeholders to inform national economic planning, academic research, tax policy and development legislation [10]
Devised by Sir Paul Chambers, PAYE was introduced into the UK in 1944, [1] following trials in 1940–1941. As with many of the United Kingdom's institutional arrangements, the way in which the state collects income tax through PAYE owes much of its form and structure to the peculiarities of the era in which it was devised.
Federal Road Safety Corps is the Government Agency with statutory responsibilities for road safety administration in Nigeria.Founded in 1988, [1] the Federal Road Safety Corps (FRSC) operates in all Nigerian states as well as the Federal Capital Territory and is the leading agency in Nigeria on road safety administration and management.
Where no allowances exist, code BR is used to tax at basic rate (20%), code D0 is used to tax at higher rate (40%) and code D1 is used to tax at the additional rate (45%). If no tax is to be collected, code NT is used. If tax has to be collected on an income above PAYE earnings, a K code is used. This works as equivalent to a negative tax ...
It is a government agency entrusted to assess, collect and account for all taxes, fees and levies in Rivers State, Nigeria. It is involved in the formulation of tax policy as well as the supervision of revenue collection due to the state. [1] Its headquarters is at Plot GS/1, Amadi Ama Layout, Port Harcourt in GRA, Port Harcourt .
The Eastern Region of Nigeria briefly issued its own stamps in the 1950s. Some Nigerian postage stamps were overprinted EASTERN REGION INCOME TAX and a new value. In around 1956–57, two sets of numeral stamps were issued inscribed EASTERN NIGERIA REVENUE. All the Eastern Region's revenue stamps are scarce or rare. [1]
The CITN was formed in February 1982 and chartered by the Federal Government of Nigeria by the enabling Act No. 76 of 1992. [1] Members of the institute may be Accounting, Legal or other professionals who have obtained the relevant tax expertise.
The provision of the Constitution cited by Melaye states, “the federation shall maintain a special account to be called the federation account into which all revenues collected by the government of the federation except the proceeds from the personal income tax of the personnel of the Armed Forces of the Federation, the Nigeria Police Force ...