Ten Banks Contribute N987bn in Taxes to FG   Ten commercial banks in Nigeria paid a combined N987.40bn in corporate income tax to the Federal Government in the 2024 financial year. This sum was disclosed in the banks’ consolidated and separate financial statements for the year ended...

Nigeria has gazetted its Provisional Schedule of Tariff Concessions (PSTCs) under the African Continental Free Trade Area (AfCFTA).

FIRS, NGF Partner to Enhance Economic Growth, Boost Revenue   As part of the efforts to boost revenue and economic growth across the federation, the Federal Inland Revenue Service (FIRS) and the Nigerian Governors’ Forum (NGF) are partnering to improve on policy harmonisation and capacity building...

FIRS, Flutterwave Collaborate on Digital Tax Platform   The Federal Inland Revenue Service (FIRS) has integrated Flutterwave’s payment technology to enable seamless digital tax collection, making the fintech company one of the few supporting the government’s efforts to modernise tax payments. Flutterwave disclosed this in a statement...

The four bills — the Nigeria tax bill, the Tax Administration bill, the Joint Revenue Board Establishment Bill, and the Nigeria Revenue Service Bill, scaled third reading during plenary on Tuesday.

E-invoicing to Boost tax-to-GDP Ratio, Curb Revenue Loss - FIRS The Federal Inland Revenue Service (FIRS) has stated that the implementation of the electronic-invoicing (e-invoicing) system will boost Nigeria’s tax-to-GDP ratio by improving tax compliance, enhancing transparency and curbing revenue losses. The e-invoicing, according to the...