Business
65%Companies Owe Two Years’ Tax Arrears – Okonjo-Iweala
Minister of Finance and
the Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, has said that 65 per cent of companies had not forwarded their tax returns in the last two years.
Okonjo-Iweala said this in Lagos at the Stakeholders’ Engagement Forum organised by the Federal Inland Revenue Service (FIRS).
She also said that 75 per cent of registered companies, especially Small and Medium Enterprises, were not in the tax net of the FIRS.
“This is a launch of our communications with tax payers to hear their ideas, we are accepting that there are areas we may need to hear and improve, but we also want to tell them what we are doing.
“We have engaged on a process of increasing our non-oil taxes, every Nigerian wants to see us depend less on oil, and more on the other resources of the economy.
“So we want to share with them that we are actually doing that work now, and that we want them to cooperate with us, let them be ambassadors for good tax compliance.
“And we wanted to share with them some of the findings because 65 per cent of companies have not filed their taxes for the past two years from the study that was done.
“A situation whereby 75 per cent of registered companies are not registered in the tax data, we need to step up our efforts.’’
The minister lauded Ogun State government for introducing tax compliance into its Civic Education, in the curricula of the primary and secondary schools.
According to her, the action will help in educating the younger generation about tax payment.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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