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In 2021, the Commission initiated dialogues with government officials and stakeholders as a prelude to modifying the revenue sharing formula in Nigeria. [6] In April 2022, the Commission presented the report to the President, Mohammed Buhari. The report proposed a sharing formula that slashes the allocation of funds to the federal government ...
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]
The PAYE tax system was introduced in Barbados in 1957 which allowed employees to have their income tax be paid on the behalf of their employers by deducting the amount from their wage/salary. Every employer who has employees earning more than $481 per week or $2,083 per month is required to register as an employer with the Barbados Revenue ...
In economics, a negative income tax (NIT) is a system which reverses the direction in which tax is paid for incomes below a certain level; in other words, earners above that level pay money to the state while earners below it receive money.
Nigeria has filed a lawsuit seeking to compel cryptocurrency exchange Binance to pay $79.5 billion for economic losses it says were caused by its operations in the country and $2 billion in back ...
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 .
Nigerian labour law looks into the rights, working conditions, minimum wage, termination clauses, and many other rules set by the government of Nigeria. The current version of the act was put into place in 2004, five years after their current constitution was established. [1] A group of men in Africa ploughing with oxen.
A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), Gross national income (GNI), net national income (NNI), and adjusted national income (NNI adjusted for natural resource depletion – also called as NNI at factor cost).