The gaming industry in Nigeria is one with enormous potential for revenue generation. However, the prospect of realizing this potential is seriously hindered by the lopsided policies of regulation and taxation in the industry. This study attempts to critically examine the current state of the industry by reviewing the regulatory framework for gaming in Nigeria as well as highlighting the applicable taxes in that industry and juxtaposing with what obtains in advanced jurisdictions.
“You can have a Lord and you can have a King, but the man to fear is the Tax Collector.”
Many of us today still share this sentiment of the Iraqi from almost 4 millennia ago that Tax is a necessary evil. Tax however, has a human face and is founded on important principles.
When asked whether the time for the scheme was rather too short, she explained that “it is a 9 months program that we started on the 1st of July.
former chairman of the NBA Warri branch, Mr. John Aikpokpo-Martins has written a note of warning to the federal government agency, FIRS. This letter was written because of the lawless behaviour of some FIRS officials towards his client’s property when there is already a pending dispute over tax to be paid.
LASACO Assurance Plc has denied owing the Federal Inland Revenue Service outstanding tax liabilities.
Prof Abiola Sanni has reiterated the need for more enlightenment about taxation in Nigeria as tax represents the next major source of revenue for government
The Delta Board of Internal Revenue (DBIR) on Friday sealed 12 companies, hotels and schools in Warri, over tax liabilities.
On Thursday, June 29, 2017, the Acting President, Prof.YemiOsinbajo, signed an Executive Order backing the Voluntary Asset and Income Declaration Scheme (VAIDS) policy.
Lawyers have criticised the decision to continue with the implementation of the Stamp Duty policy by the Federal Government as revenue means despite a latest court order nullifying it for being illegal and unconstitutional.
Some of these are issues which would need to be tackled before the commencement of business while others are regular compliance issues which the company has to encounter on a regular basis.