TAXATION

The Nigerian Economic Summit Group (NESG) has thrown its weight behind ‘The 2025 Nigerian Tax Reform Acts’, saying these laws aim to simplify the tax system, among other advantages. The Group in its latest publication on Tuesday titled: ‘The 2025 Nigerian Tax Reform Acts: Taxing the Fruits, Not the Seed’,...

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr.Taiwo Oyedele, has clarified reports in the media about the monthly income tax to be paid by Nigerians under the tax reform bills signed into law by President Bola Tinubu on Thursday. Oyedele was quoted on Channels Television’s...

The Nigeria Employers’ Consultative Association (NECA) on Thursday lauded President Bola Tinubu’s assent to four major tax reform bills, describing it as a significant step towards ending over 10 years of crippling multiple taxation on businesses in Nigeria. Speaking on the sidelines of the fourth Employers Summit in Abuja, NECA’s...

The Federal Inland Revenue Service (FIRS) has revealed that only between 10 and 19 per cent of Nigerians pay taxes, making it one of the lowest compliance rates on the continent. Speaking at the public presentation of a new children’s tax education book titled “Taxation: Essential Knowledge for Nigerian Children,”...

The Senate on Wednesday passed two out of the four proposed tax reform bills submitted by President Bola Tinubu, marking a significant step toward overhauling Nigeria’s fiscal framework. The bills passed are the Nigeria Revenue Service (Establishment) Bill and the Joint Revenue Board (Establishment) Bill. Their passage followed the adoption...

Governor Ademola Adeleke has directed the Osun state Commissioner of Police to stop ongoing imposition of illegal taxes on market operators and forgery of council documents by some court-sacked Yes/No council chairmen, describing the development as inimical to sustenance of law and order at the grassroots. The governor further instructed...

Chairman of the Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, has restated the commitment of the agency to supporting initiatives that promote tax policy development and build the capacity of tax administrators in the West African sub-region. Adedeji spoke in Abuja on Tuesday at the opening of the West...

The Chairman of the House of Representatives Committee on Finance, Mr. James Faleke (APC-Lagos), has assured Nigerians that the tax reform bills will produce widely acceptable laws. Faleke gave this assurance on Thursday after the House considered and adopted the report on the four tax reform bills during its session...

The Chartered Institute of Taxation of Nigeria (CITN), says the tax reform by the Federal Government is a sign of good things to cone for majority of Nigerians. Mr Samuel Agbeluyi, the President of CITN, said this while speaking to newsmen on Friday in Jos. Agbeluyi is in Jos for...

The Lagos State Internal Revenue Service (LIRS) has reminded all individual taxpayers, including self-employed individuals, those in the informal sector, and employees under the Pay-As-You-Earn (PAYE) scheme, to submit their Annual Tax Returns on or before March 31, 2025. This directive is in accordance with the Personal Income Tax Act...