Tax updates across Africa, simplified
To enhance revenue collection and financial transparency, the Nigerian government has launched the Treasury Management and Revenue Assurance System (TMRAS). This platform replaces the existing Remita system for managing payments, …
Nigeria Launches TMRAS to Boost Tax Compliance & Revenue Collection Read More
The Federal Capital Territory Internal Revenue Service (FCT-IRS) in Abuja, Nigeria, has announced plans to set up tax service kiosks across major markets and plazas within the city and its …
Abuja in Nigeria to Get Tax Service Kiosks in Markets and Plazas Read More
Nigeria: Chambers of Commerce Warns Against Taxation of Free Trade Zones. The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has raised concerns over the federal government’s …
Nigeria: Chambers of Commerce Warns Against Taxation of Free Trade Zones Read More
Nigeria is set to unlock the potential of its $257 billion non-associated gas (NAG) reserves through a series of tax incentives outlined in the proposed Nigeria Tax Bill 2024. With …
Nigeria to Leverage Tax Incentives for $257 Billion Gas Reserves Read More
A legal battle has commenced over the application of Value Added Tax (VAT) on food sold in restaurants and hotels across Nigeria. Senior Advocate of Nigeria (SAN), Chief R.O. Balogun, …
Court Challenge Over VAT on Restaurant Food in Nigeria Read More
Nigeria: House of Reps Advances Multiple Tax Reform Bills. The House of Representatives in Nigeria has passed for second reading four key tax reform bills aimed at overhauling Nigeria’s tax …
Nigeria: House of Reps Advances Multiple Tax Reform Bills Read More
The Federal Inland Revenue Service (FIRS) has officially launched a new withholding tax system aimed at improving tax collection, ensuring compliance, and increasing government revenue. Enhancing Efficiency and Transparency In …
Nigeria: FIRS Introduces Withholding Tax System to Boost Compliance Read More
Nigeria is implementing significant tax reforms aimed at reducing inflation and stimulating economic growth. A key component of these reforms is the proposed increase in the Value-Added Tax (VAT) rate …
Nigeria Aims to Ease Inflation by Exempting Essentials from VAT Read More
Nigeria has witnessed an unprecedented spike in its Value Added Tax (VAT) revenue, reaching a record-breaking ₦6.72 trillion in 2024—an 84.6% increase from ₦3.64 trillion in 2023. This surge highlights …
Nigeria’s VAT Collections Hit Record High of ₦6.72 Trillion in 2024 Read More
The Nigeria Extractive Industries Transparency Initiative (NEITI) has endorsed the proposed 2024 Tax Reform Bill, describing it as a critical step toward modernizing Nigeria’s tax framework and improving fiscal policy. …
NEITI Supports 2024 Tax Reform Bill to Modernize Nigeria’s Tax System Read More