Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said Nigerians who earn income from sex work and other activities often considered “illegitimate” will be liable to pay taxes under the country’s new fiscal regime.

Federal Inland Revenue Service has explained that the government’s reforms exempt food, education, shared transportation, and agriculture from value-added tax.

Concerns Lingers as Multiple Taxation After Reforms   Stakeholders have expressed fears that the issue of multiple taxation may not be over despite the 2025 Tax Reform Law, emphasizing the need for effective implementation when it comes into force in 2026. It would be recalled that President...

The Federal Inland Revenue Service (FIRS) has dismissed claims that Nigerians must obtain a separate Tax Identification Number.

The Federal Inland Revenue Service (FIRS), yesterday highlighted the benefits of the new tax law put in place by the Federal Government listing the inherent gain to include strengthening of tax compliance and a boost to the revenue generation of the President Bola Ahmed Tinubu administration.

𝐓𝐡𝐞 𝐍𝐞𝐰 𝐓𝐚𝐱 𝐀𝐜𝐭𝐬 𝐚𝐧𝐝 𝐓𝐚𝐱 𝐈𝐃 – 𝐖𝐡𝐚𝐭 𝐘𝐨𝐮 𝐍𝐞𝐞𝐝 𝐭𝐨 𝐊𝐧𝐨𝐰    The Nigeria Tax Administration Act (NTAA) mandates the use of Tax Identification Numbers (Tax ID) for certain transactions. Understandably, many Nigerians have questions about what this means for banking, businesses, and everyday...