Nigeria: Diamond Bank to Collect FIRS Taxes, NMA Levies

Following appointments by the Federal Inland Revenue Service (FIRS), Nigerian Ports Authority (NPA), Nigerian Maritime Authority (NMA) and the Power Holding Company of Nigeria (PHCN) respectively, Diamond Bank has commenced collection of various levies and taxes on behalf of the federal government.

According to the bank, in a letter dated April 14, 2006, FIRS confirmed Diamond Bank's enlistment for Large Tax Offices (LTO) collections. This covers taxes from oil and non-oil companies in the Lagos and Port Harcourt region with annual turnover of N1 billion and above. Before now, the bank has been receiving integrated tax offices collections which are from companies with an annual turnover of less than N1 billion.

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