About the Law
This Act was enacted to provide for the establishment for the establishment of the Federal Inland Revenue Service charged with powers of assessment, collection of, and accounting for revenues accruable to the Government of the Federation.
Some key provisions include:
- Establishment of the Federal Inland Revenue Service and its Management board
- Provides for the functions and powers of the Board and the Service
- The Service has tax administration and enforcement powers
- Provides offences and penalties for tax offences
You can read all the provisions of the law here – Federal Inland Revenue Service Act 2007
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