Tag: Tax

FIRS announces new TAXPR-MAX platform for CbCR
News

France has no access to Nigerian tax data – FIRS

Nigeria’s Federal Inland Revenue Service has said a tax cooperation agreement signed with France does not grant foreign authorities access to Nigerian taxpayer data or digital systems, following public commentary on the deal. FIRS, in a statement on Saturday, said the Memorandum of Understanding with France’s Direction Générale des Finances Publiques does not provide France […]

Business

Joint Tax Board begins transition, unveils new brand identity

The Joint Tax Board has begun its transition ahead of implementing Nigeria’s new tax laws, unveiling a refreshed brand identity in Abuja. This follows President Bola Tinubu’s signing of the Joint Revenue Board of Nigeria (Establishment) Act 2025 on June 26, which replaces the current Joint Tax Board with a new Joint Revenue Board effective […]

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

FG unveils committee for fair capital gains tax rollout

The Federal Government has inaugurated the National Tax Policy Implementation Committee, signifying a deliberate shift towards a more predictable and market-aligned rollout of the newly enacted capital-gains-tax provisions. This initiative follows extensive technical engagements with key capital-market institutions, including the Securities and Exchange Commission and Nigerian Exchange Group. The action reflects policymakers’ recognition of the […]

Bill for tax crimes commission passes second reading
Business

NEPZA requests 10-year tax relief for free-zone operators

The Nigeria Export Processing Zones Authority has urged the Federal Government to grant a 10-year tax relief to all operators within the Special Economic Zones. The authority warned that failure to implement this transitional relief could undermine investor confidence and trigger disruptions across the free-zones ecosystem. This appeal comes barely one month before the scheduled […]

featured Finance

ICYMI: Pastors, Imams must pay personal tax — Oyedele

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has clarified that pastors, imams, and other religious workers are liable to pay tax on the salaries they earn from religious institutions. Speaking on the podcast ‘Mic On’, Oyedele stressed that while churches, mosques, and other religious bodies are exempt from […]

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

FG stops pioneer status applications for new tax scheme

The Federal Government has officially stopped receiving applications for the Pioneer Status Incentive, effective November 10, 2025. This cessation means that corporate organizations will no longer be able to enjoy the initial three-year tax-free incentives for new businesses under the existing scheme. The Nigerian Investment Promotion Commission stated that this step is part of the […]

Opinion

Tackle corruption, tax religious institutions, expert urges FG

Economist, Daramola Omoyele has advised the government to include religious institutions in the new tax net in Nigeria, emphasizing that the new tax reform, though well-intentioned, would fail if it exempts the most powerful while burdening the powerless. In an interview with the News Agency of Nigeria on Wednesday, Omoyele acknowledged that the new Nigeria […]

Business featured

High bank charges, taxes top Nigerian business constraints — CBN

Businesses and households have clearly identified high interest rates, multiple taxes, and poor infrastructure as the top three constraints impacting operations in September 2025, even as they collectively expressed optimism about the macroeconomy in the coming months. In its Business Expectation Survey, the Central Bank of Nigeria reported the robust confidence level, stating: “The Confidence […]

Policy and Regulations

Proposed tax stamp system could worsen inflation, MAN warns

The Manufacturers Association of Nigeria has expressed concerns that the proposed introduction of a Tax Stamp System for excisable goods could worsen inflation, erode consumer demand, and weaken Nigeria’s competitiveness under the African Continental Free Trade Area. According to MAN, the extra compliance costs from tax stamps would inevitably be passed on to consumers, many […]

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

South Africa to tax social media influencers

The South African Revenue Service has announced that social media influencers are now included in its taxpayer segmentation model, emphasising the need for compliance with tax regulations. The agency clarified that all forms of income, whether received as cash, products, services, or travel perks, must be declared. Influencers are encouraged to report earnings from brand […]

Walmart increases stake in Flipkart with 3.5bn
Business News

Walmart to launch first branded stores in South Africa

Walmart on Tuesday announced plans to open its first branded stores in South Africa later this year, signaling the retail giant’s push to expand its footprint across the African continent. The move aims to provide South African consumers with greater access to high-quality, affordable merchandise. The announcement comes on the heels of Walmart’s inaugural Growth […]