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Here Is Why Charity Organizations Want The Rich To Be Taxed More
According to a report from the annual meeting of the World Economic Forum held in Davos, Switzerland, the world’s top 1 percent has grabbed nearly two-thirds of the $42 trillion in new wealth created since 2020. In the report by Oxfam titled “Survival of the Richest”, the share was almost twice as much money as what the…
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Nigerians Pay N2tn Indirect Taxes In Nine Months
According to the National Bureau of Statistics, the tax burden on Nigerians in the first nine months of 2022 increased by N285.13 billion. Nigerians paid N2.01 trillion as indirect taxes in the period under review, a 16.57 per cent increase from the N1.72 trillion paid in the corresponding period of 2021. This data is calculated…
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Customs Generates N1tr In 6 Months
The Nigeria Customs Service has generated N1.003 trillion in revenue in the first six months of 2021. NCS has also seized 2,333 goods worth N4.4 billion in Duty Paid Value in the period under review. The spokesman of NCS, Deputy Comptroller Joseph Attah, said, “The service generated the sum of N1.003trn from January to June…
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World Bank Warns Against Hiking Of Global Tax Minimum
The World Bank has warned world leaders to avoid setting very high global minimum tax rates that hinder poor countries’ from attracting valuable investments. The cautioning comes after the US Treasury Secretary Janet Yellen called for a 21% global minimum rate. Ms Yellen has said a global minimum tax on companies is necessary to stop a…
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FIRS Revenue Drops In 2020
The Federal Inland Revenue Service (FIRS) collected the sum of N4. 952 trillion in total tax revenue in the year 2020 as against previous years. Director Communications and Liaison, Mr Abdullahi Ahmad, said in a statement, that the figure represented approximately 98 per cent of the national tax target of N5.076 trillion set for the…