Category : Taxation


Mid-Sized Firms Scramble for July E-Invoicing Deadline

Thousands of Nigerian mid-sized businesses face a narrowing window to implement e-invoicing systems before the July 2026 deadline, with concerns about readiness, revenue disruption, and audit risks mounting as enforcement looms.

Mid-Sized Firms Race to Meet E-Invoicing July Deadline

Thousands of mid-sized Nigerian businesses are rushing to comply with the NRS e-invoicing framework by July 2026, facing risks of revenue disruption and audits. Pillarcraft Cloud Solutions has launched UsawaConnect to aid compliance.

Tax Reforms to Favor Women, Youths, FG Assures

The Federal Government has assured that ongoing fiscal and tax reforms will create a fairer, more inclusive system supporting economic participation, with a focus on women, youths, and informal workers.

FG Introduces 1% Tax Levy for Nigeria's Informal Businesses

The Nigerian federal government has rolled out a new 1% presumptive tax targeting the informal sector to expand the tax base and increase revenue. The simplified system aims to encourage compliance and reduce illegal levies on small traders.

Lagos Tax Returns Mandatory by March 31, Penalties Explained

Lagos State Internal Revenue Service (LIRS) mandates all residents to file annual tax returns by March 31. Special Adviser Abideen Akande explains the self-assessment system, penalties for defaulters, and the online filing process via e-tax.lirs.net.

FG Clarifies No 25% Tax on Building Materials, Bank Balances

The Presidential Fiscal Policy and Tax Reforms Committee has dismissed viral claims that the Nigeria Tax Act 2025 imposes a 25% levy on building materials, construction funds, or bank savings. The committee clarified the law's actual provisions, which inc

DisCos Require TIN, CAC, NIN for Corporate Meter Recharge

Electricity Distribution Companies in Nigeria have introduced new compliance requirements for corporate customers under the Nigeria Tax Act 2025. Ikeja Electric has set a February 20 deadline for businesses to submit identification documents to avoid serv

Osun Gov Adeleke: No New Tax Burden, Fair Reforms

Osun State Governor Ademola Adeleke assures residents that ongoing tax reforms aim for fairness and revenue growth without imposing hardship, emphasizing support for SMEs and low-income earners.

Banks Deduct 10% Tax on Savings Interest, Nigerians Protest

Major Nigerian banks including Access, Zenith, and UBA have begun deducting 10% withholding tax on savings account interest following new government directives, causing widespread anger among savers already struggling with economic pressures.

New Nigerian Tax Law: Key Changes and Penalties

The Nigeria Tax Act 2025 introduces stricter compliance deadlines and penalties up to 40% for Stamp Duty, PAYE, VAT and Withholding Tax. Learn the key changes affecting businesses and individuals.

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