The series of tax holidays is conceived by the federal government to grow the local manufacturing industry Nigeria’s President, Muhammadu Buhari reopens talks on tax holiday in Nigeria as he proposes several…
Category: Nigeria
Nigeria Income Tax: Leading Banks Remit ₦75bn in First Half of 2022
The banking sector in Nigeria becomes a major tax contributor in the country Nigeria Income Tax has shown resilience as dominating Nigerian Banks such as GTB, Access Bank, Zenith Bank, UBA, and…
Nigeria Eyes OECD Membership, Projects Tax Growth
The proposed membership is expected to impact seed exports in the agriculture value chain Nigeria’s full membership in the Organisation for Economic Cooperation and Development, OECD As part of its efforts to…
Forty-Five Percent of Nigeria-Tax Revenue Goes Into Debt Servicing
It has come to light that 45% of Nigeria-tax revenue as generated by the government in April and May of 2022 were used to settle a debt. According to the Central Bank…
Tax Waiver in Nigeria: Government Awards ₦16tn to Dangote, Honeywell, others
The Federal Government of Nigeria through the Federal Inland Revenue Service, FIRS decides to offer a whopping ₦16tn as a tax waiver for selected companies. On the flip side, the FIRS denies…
CIT In Nigeria Rises by 29.5% in Q2 2022
CIT experiences growth between the months of April, May June 2022. Companies Income Tax, CIT in Nigeria rises by 29.53% on a quarter-on-quarter basis from ₦551.53 billion Companies Income Tax, CIT in…
The Concept of Tax Evasion and Tax Avoidance in Nigeria
By Abdulateef Olatunji ABDULRAZAQ, Founder, Taxmobile.Online and Principal Partner, AOA Professional Services Introduction Tax evasion and tax avoidance are two critical concepts when it comes to taxation. Tax avoidance is any legal…
The Nigerian Tax Administration: 14 Essential Points on Taxpayer’s Rights and Obligations
By Abdulateef Olatunji ABDULRAZAQ, Founder, Taxmobile.Online and Principal Partner, AOA Professional Services Introduction The Nigerian Tax Administration entails the administration, management, conduct, direction and supervision of the execution and application of the…
VAT in Nigeria: 10 Key Notes and Your Responsibilities
By Abdulateef Olatunji ABDULRAZAQ, Founder, Taxmobile.Online and Principal Partner, AOA Professional Services VAT in Nigeria: Introduction Value Added Tax (VAT) is a consumption tax paid on all goods and services provided in…
MSME Tax in Nigeria: 10 Highlights under Finance Acts 2019, 2020 and 2021
By Abdulateef Olatunji ABDULRAZAQ, Founder, Taxmobile.Online and Principal Partner, AOA Professional Services Navigating compliance through these finance acts considering MSME. MSME Tax in Nigeria: Introduction The Finance Act 2019 categorized companies into…