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Tag: Tax reform

Business

PwC flags gaps in new NRS virtual asset tax guidelines

PwC Nigeria has identified several areas of ambiguity in the Nigeria Revenue Service’s newly issued Guidelines on the Taxation of Virtual Assets, even as it urged tax payers to brace for the implementation. The firm, in a tax alert titled Taxing the intangible: A critical analysis of the NRS guidelines on taxation of virtual assets, […]

Business

MAN calls for tax harmonisation, reliable energy for manufacturers

The Manufacturers Association of Nigeria has called for urgent tax harmonisation, improved infrastructure, reliable energy supply and a predictable regulatory environment to strengthen the country’s manufacturing sector. The appeal was made at the 41st Annual General Meeting of the Ogun Branch of MAN in Abeokuta, with the theme: “Building a Resilient Manufacturing Sector: Surmounting the […]

Finance

NRS unveils Rev360 digital platform to boost tax compliance

The Nigeria Revenue Service has unveiled Rev360, its next-generation digital tax administration platform designed to deliver a more integrated, intelligent, and taxpayer-centric tax administration experience, which will also identify tax evaders. Vanguard reported that speaking at the event in Abuja, on Wednesday, Executive Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji, described Rev360 as […]

Finance

Tax Ombud vows to end multiple taxation across Nigeria

The Tax Ombud, Dr. John Nwabueze, has pledged to eliminate arbitrariness in Nigeria’s tax system and tackle the challenge of multiple taxation affecting individuals and businesses across the country. Vanguard reported that he made the commitment on Tuesday during a media parley with finance correspondents in Abuja. According to him, the Office of the Tax […]

Finance

NRS pledges fair mining royalty collection under new tax regime

The Nigeria Revenue Service has pledged transparent and fair administration of mining royalties under the new tax laws that transferred the collection of mineral royalties and related fees to the agency. The agency also pledged to ensure transparency, fairness and accountability in the administration of the mining sector under the 2025 reforms signed into law […]

Aviation

Jet fuel: FG plans tax relief to avert airlines shutdown

The Federal Government is considering debt waivers and tax relief measures to prevent a shutdown of domestic airline operations in Nigeria following a sharp rise in Jet A1 aviation fuel prices. The move comes amid rising concerns over the sustainability of local airline operations, as fuel prices have surged in recent weeks. The Minister of […]

LIRS sets January 31st deadline for filing tax returns
featured Finance

Again, LIRS extends individual tax filing deadline

The Lagos State Internal Revenue Service has announced a further extension of the deadline for filing of individual annual income tax returns to Tuesday, April 21, 2026. In a press release issued on Friday, the agency expressed appreciation to taxpayers for their continued compliance and commitment to fulfilling their tax obligations. The LIRS noted that […]

Finance

Multiple taxes threaten survival, growth, private sector warns

The Organised Private Sector of Nigeria has called for urgent economic and regulatory reforms. It warned that mounting tax and regulatory pressures are threatening the survival and growth of businesses across the country. The call was made at the OPSN strategy meeting held on Friday. The Chairman of OPSN, Jani Ibrahim, spoke at the meeting. […]

Opinion

NANS endorses tax reform law, cancels planned protest

The National Association of Nigerian Students has declared its support for the newly enacted Tax Reform Law, describing the legislation as a well-meaning fiscal policy targeted at strengthening Nigeria’s economy while offering protection to low-income earners. The endorsement followed wide-ranging deliberations at the maiden Expanded National Executive Council (ENEC) meeting of the association, themed “National […]

Seven banks paid N392.53bn in taxes in first half of 2024
Business

New tax regime sparks tension in Nigeria’s maritime sector

There is growing unease among freight forwarding practitioners in Nigeria’s maritime sector following the commencement of the new tax regime on Thursday, January 1, 2026. Several agents disclosed that some shipping lines have already begun holding meetings to consider possible increases in freight charges, according to The Punch. From January 1, 2026, the Federal Government […]

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