ABUJA (Sundiata Post) – The Federal Inland Revenue Service (FIRS), says companies that earn less than N25m profit are not required to pay tax.
The agency also said it had no plans to tax online content creators.
According to a staff member of the agency who spoke under the condition of anonymity, skit makers were individuals who did not fall within the purview of the FIRS.
“FIRS does not tax Personal Income Tax, States governments do.
“FIRS collects Company Income Tax. Only those who are corporate names and earn profit of N25 million and more are required to pay tax,’’ he said.
Reports that a section of the media recently quoted the FIRS as saying that media content creators and influencers constituted a major block of tax evaders.
Meanwhile, the FIRS recently unveiled a new structure to improve the country’s tax administration.
The Executive Chairman of the FIRS, Dr Zacch Adedeji, said that the structure was in pursuit of a more efficient and contemporary tax administration methodology.
He said that the agency was embracing an integrated tax approach, leveraging technology at every step.
“This approach positions FIRS at the forefront of innovation, ensuring that we meet the evolving needs of our taxpayers in a rapidly changing world.
“The structure advocates a comprehensive approach to taxpayer services, consolidating our core functions and support under one umbrella.
“By tailoring our services to specific taxpayer segments, we aim to simplify the taxpayer experience.
“No more complexities, no more overlaps, just a seamless and user-friendly interaction for every taxpayer,’’ he said.
He said that the move would shift the agency away from traditional tax categorisation. (NAN)
