Tax Archives - Nairametrics https://nairametrics.com/category/economy/tax/ Destination for Business news and analysis from Africa's largest economy Mon, 07 Jul 2025 19:15:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Tax Archives - Nairametrics https://nairametrics.com/category/economy/tax/ 32 32 201037849 FIRS begins renegotiation of double taxation treaty with Netherlands amid tax reforms  https://nairametrics.com/2025/07/07/firs-begins-renegotiation-of-double-taxation-treaty-with-netherlands-amid-tax-reforms/ https://nairametrics.com/2025/07/07/firs-begins-renegotiation-of-double-taxation-treaty-with-netherlands-amid-tax-reforms/#respond Mon, 07 Jul 2025 19:08:54 +0000 https://nairametrics.com/?p=518672 The Federal Inland Revenue Service (FIRS) has commenced formal renegotiations of its Double Taxation Agreement (DTA) with the Kingdom of the Netherlands.  

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]]> https://nairametrics.com/2025/07/07/firs-begins-renegotiation-of-double-taxation-treaty-with-netherlands-amid-tax-reforms/feed/ 0 518672 Femi Otedola becomes the first Nigerian billionaire to commend the new tax reform laws https://nairametrics.com/2025/06/28/femi-otedola-becomes-the-first-nigerian-billionaire-to-commend-the-new-tax-reform-laws/ https://nairametrics.com/2025/06/28/femi-otedola-becomes-the-first-nigerian-billionaire-to-commend-the-new-tax-reform-laws/#respond Sat, 28 Jun 2025 12:13:36 +0000 https://nairametrics.com/?p=518037 The passage of four tax reform bills into law by President Bola Tinubu has sparked optimism among investors, with billionaire businessman Femi Otedola expressing his intention to invest more in the Nigerian economy.  

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]]> https://nairametrics.com/2025/06/28/femi-otedola-becomes-the-first-nigerian-billionaire-to-commend-the-new-tax-reform-laws/feed/ 0 518037 Nigeria’s financial sector generates N570.91 billion in corporate income tax in Q3 2024, leading all sectors – Report  https://nairametrics.com/2025/06/27/nigerias-financial-sector-generates-n570-91-billion-in-corporate-income-tax-in-q3-2024-leading-all-sectors-report/ https://nairametrics.com/2025/06/27/nigerias-financial-sector-generates-n570-91-billion-in-corporate-income-tax-in-q3-2024-leading-all-sectors-report/#respond Fri, 27 Jun 2025 12:07:34 +0000 https://nairametrics.com/?p=517974 Nigeria’s financial sector played a pivotal role in national revenue generation during the third quarter of 2024, contributing N570.91 billion in corporate income tax (CIT), a significant 21.5% share of the total N2.66 trillion collected during the period. 

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]]> https://nairametrics.com/2025/06/27/nigerias-financial-sector-generates-n570-91-billion-in-corporate-income-tax-in-q3-2024-leading-all-sectors-report/feed/ 0 517974 President Tinubu signs four tax reform bills into law  https://nairametrics.com/2025/06/26/president-tinubu-signs-four-tax-reform-bills-into-law/ https://nairametrics.com/2025/06/26/president-tinubu-signs-four-tax-reform-bills-into-law/#respond Thu, 26 Jun 2025 19:13:59 +0000 https://nairametrics.com/?p=517925 President Bola Tinubu has signed into law four tax reform bills on key areas of Nigeria’s fiscal and revenue framework. 

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]]> https://nairametrics.com/2025/06/26/president-tinubu-signs-four-tax-reform-bills-into-law/feed/ 0 517925 Implementation of 4 new tax laws to start on January 1, 2026 – FIRS Chairman https://nairametrics.com/2025/06/26/implementation-of-4-new-tax-laws-to-start-on-january-1-2026-firs-chairman/ https://nairametrics.com/2025/06/26/implementation-of-4-new-tax-laws-to-start-on-january-1-2026-firs-chairman/#respond Thu, 26 Jun 2025 16:54:51 +0000 https://nairametrics.com/?p=517917 The Executive Chairman of the Federal Inland Revenue Service (FIRS), which will now be known as the National Revenue Service (NRS), Zacch Adedeji, has announced that the newly signed four tax reform bills will take effect on January 1, 2026.

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]]> https://nairametrics.com/2025/06/26/implementation-of-4-new-tax-laws-to-start-on-january-1-2026-firs-chairman/feed/ 0 517917 President Tinubu to sign four Tax Reform Bills into law on Thursday https://nairametrics.com/2025/06/25/president-tinubu-to-sign-four-tax-reform-bills-into-law-on-thursday/ https://nairametrics.com/2025/06/25/president-tinubu-to-sign-four-tax-reform-bills-into-law-on-thursday/#respond Wed, 25 Jun 2025 21:48:19 +0000 https://nairametrics.com/?p=517873 President Bola Tinubu will, on Thursday, sign into law four tax reform bills that will transform Nigeria’s fiscal and revenue framework. 

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]]> https://nairametrics.com/2025/06/25/president-tinubu-to-sign-four-tax-reform-bills-into-law-on-thursday/feed/ 0 517873 FIRS extends tax office operations to weekends in June 2025  https://nairametrics.com/2025/06/17/firs-extends-tax-office-operations-to-weekends-in-june-2025/ https://nairametrics.com/2025/06/17/firs-extends-tax-office-operations-to-weekends-in-june-2025/#respond Tue, 17 Jun 2025 20:23:07 +0000 https://nairametrics.com/?p=517385 The Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji has directed all tax offices to operate on weekends throughout June 2025 to support taxpayers during the peak filing season. 

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]]> https://nairametrics.com/2025/06/17/firs-extends-tax-office-operations-to-weekends-in-june-2025/feed/ 0 517385 Shell confirms it paid Nigeria $5.34bn in taxes, charges in 2024, its highest government payout globally  https://nairametrics.com/2025/05/16/shell-confirms-it-paid-nigeria-5-34bn-in-taxes-charges-in-2024-its-highest-government-payout-globally/ https://nairametrics.com/2025/05/16/shell-confirms-it-paid-nigeria-5-34bn-in-taxes-charges-in-2024-its-highest-government-payout-globally/#respond Fri, 16 May 2025 04:55:50 +0000 https://nairametrics.com/?p=515431 Energy major Shell Plc paid $5.34 billion to the Nigerian government in 2024, the largest amount it remitted to any country, even as it continues to divest from its onshore oil operations in Africa’s largest crude producer. 

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]]> https://nairametrics.com/2025/05/16/shell-confirms-it-paid-nigeria-5-34bn-in-taxes-charges-in-2024-its-highest-government-payout-globally/feed/ 0 515431 Nigerian Senate passes final two tax reform bills, paving way for presidential assent  https://nairametrics.com/2025/05/08/nigerian-senate-passes-final-two-tax-reform-bills-paving-way-for-presidential-assent/ https://nairametrics.com/2025/05/08/nigerian-senate-passes-final-two-tax-reform-bills-paving-way-for-presidential-assent/#respond Thu, 08 May 2025 20:41:07 +0000 https://nairametrics.com/?p=514952 The Nigerian Senate has completed legislative work on four key tax reform bills proposed by President Bola Tinubu, passing the remaining two bills.

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]]> https://nairametrics.com/2025/05/08/nigerian-senate-passes-final-two-tax-reform-bills-paving-way-for-presidential-assent/feed/ 0 514952 Senate passes two tax reform bills to modernize Nigeria’s fiscal framework, retains VAT at 7.5%  https://nairametrics.com/2025/05/07/senate-passes-two-tax-reform-bills-to-modernize-nigerias-fiscal-framework-retains-vat-at-7-5/ https://nairametrics.com/2025/05/07/senate-passes-two-tax-reform-bills-to-modernize-nigerias-fiscal-framework-retains-vat-at-7-5/#respond Wed, 07 May 2025 21:51:58 +0000 https://nairametrics.com/?p=514864 The Nigerian Senate has approved two out of four major tax reform bills proposed by President Bola Tinubu, marking a significant step toward modernizing Nigeria’s fiscal framework.  

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]]> https://nairametrics.com/2025/05/07/senate-passes-two-tax-reform-bills-to-modernize-nigerias-fiscal-framework-retains-vat-at-7-5/feed/ 0 514864 FIRS directs banks to close unauthorised tax collection accounts  https://nairametrics.com/2025/04/29/firs-directs-banks-to-close-unauthorised-tax-collection-accounts/ https://nairametrics.com/2025/04/29/firs-directs-banks-to-close-unauthorised-tax-collection-accounts/#respond Tue, 29 Apr 2025 05:47:27 +0000 https://nairametrics.com/?p=514196 The Federal Inland Revenue Service (FIRS) has ordered all banks in Nigeria to immediately identify and close any tax and levy collection accounts not authorised under the agency’s TaxPro Max system. This directive, announced through a public notice issued by the Executive Chairman of FIRS, Zacch Adedeji, and circulated to journalists on Monday by his […]

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]]> https://nairametrics.com/2025/04/29/firs-directs-banks-to-close-unauthorised-tax-collection-accounts/feed/ 0 514196 IMF urges Nigeria to expand tax base, deepen regional trade for economic stability  https://nairametrics.com/2025/04/25/imf-urges-nigeria-to-expand-tax-base-deepen-regional-trade-for-economic-stability/ https://nairametrics.com/2025/04/25/imf-urges-nigeria-to-expand-tax-base-deepen-regional-trade-for-economic-stability/#respond Fri, 25 Apr 2025 11:27:55 +0000 https://nairametrics.com/?p=514005 The International Monetary Fund (IMF) has called on the Federal Government of Nigeria to broaden its tax revenue base and curb tax evasion, as part of sweeping fiscal reforms aimed at strengthening the country’s economic resilience. 

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]]> https://nairametrics.com/2025/04/25/imf-urges-nigeria-to-expand-tax-base-deepen-regional-trade-for-economic-stability/feed/ 0 514005 FG: Tax reform bill to exempt real estate transactions from VAT, boost housing affordability in Nigeria  https://nairametrics.com/2025/04/25/fg-tax-reform-bill-to-exempt-real-estate-transactions-from-vat-boost-housing-affordability-in-nigeria/ https://nairametrics.com/2025/04/25/fg-tax-reform-bill-to-exempt-real-estate-transactions-from-vat-boost-housing-affordability-in-nigeria/#respond Fri, 25 Apr 2025 08:16:08 +0000 https://nairametrics.com/?p=513975 The Federal Government of Nigeria has said that the Tax Reform Bill, once enacted, will exempt real estate transactions from Value Added Tax (VAT), a move aimed at reducing the cost of building materials and housing. This reform is expected to ease the financial burden on low-income earners and stimulate growth in the construction and […]

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]]> https://nairametrics.com/2025/04/25/fg-tax-reform-bill-to-exempt-real-estate-transactions-from-vat-boost-housing-affordability-in-nigeria/feed/ 0 513975 Nigerian Senate to address critical Tax Reform Bills after Easter holidays  https://nairametrics.com/2025/04/04/nigerian-senate-to-address-critical-tax-reform-bills-after-easter-holidays/ https://nairametrics.com/2025/04/04/nigerian-senate-to-address-critical-tax-reform-bills-after-easter-holidays/#respond Fri, 04 Apr 2025 08:23:00 +0000 https://nairametrics.com/?p=512609 The Nigerian Senate is set to deliberate on the highly anticipated Tax Reform Bill 2024 immediately after the Eid-El-Fitr and Easter holidays. The Easter break runs between April 18 and 21. The Leader of the Senate, Opeyemi Bamidele, highlighted the significance of these bills, describing them as transformational initiatives poised to redefine Nigeria’s fiscal framework. […]

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]]> https://nairametrics.com/2025/04/04/nigerian-senate-to-address-critical-tax-reform-bills-after-easter-holidays/feed/ 0 512609 Plateau IRS generates N3.3 billion IGR in January 2025  https://nairametrics.com/2025/03/31/plateau-irs-generates-n3-3-billion-igr-in-january-2025/ https://nairametrics.com/2025/03/31/plateau-irs-generates-n3-3-billion-igr-in-january-2025/#respond Mon, 31 Mar 2025 15:25:36 +0000 https://nairametrics.com/?p=512370 The Plateau Internal Revenue Service (PIRS) has announced a significant increase in its Internally Generated Revenue (IGR), recording over N3.3 billion in January 2025 alone.

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]]> https://nairametrics.com/2025/03/31/plateau-irs-generates-n3-3-billion-igr-in-january-2025/feed/ 0 512370 Wike vows ‘aggressive’ revenue collection in FCT amid N262 billion 2024 IGR  https://nairametrics.com/2025/03/29/wike-vows-aggressive-revenue-collection-in-fct-amid-n262-billion-2024-igr/ https://nairametrics.com/2025/03/29/wike-vows-aggressive-revenue-collection-in-fct-amid-n262-billion-2024-igr/#respond Sat, 29 Mar 2025 06:35:00 +0000 https://nairametrics.com/?p=512190 The Minister of the Federal Capital Territory (FCT), Barrister Ezenwo Nyesom Wike, has vowed to aggressively pursue revenue collection through taxes and ground rent payments in the FCT to fund impactful projects in the state capital—amid a record collection of  N262 billion in  Internally Generated Revenue (IGR) for 2024. 

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]]> https://nairametrics.com/2025/03/29/wike-vows-aggressive-revenue-collection-in-fct-amid-n262-billion-2024-igr/feed/ 0 512190 Zenith Bank, GTCO and UBA incur N172.4 billion in windfall taxes  https://nairametrics.com/2025/03/28/zenith-bank-gtco-and-uba-incur-n172-4-billion-in-windfall-taxes/ https://nairametrics.com/2025/03/28/zenith-bank-gtco-and-uba-incur-n172-4-billion-in-windfall-taxes/#respond Fri, 28 Mar 2025 14:38:52 +0000 https://nairametrics.com/?p=512135 Three of Nigeria’s largest banks, Zenith Bank, Guaranty Trust Holding Company (GTCO), and United Bank for Africa (UBA), have collectively incurred windfall tax liabilities totaling N172.3 billion following the enactment of a new tax regime that targets foreign exchange gains made during periods of macroeconomic upheaval. The charges stem from the Finance (Amendment) Act 2023, which […]

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]]> https://nairametrics.com/2025/03/28/zenith-bank-gtco-and-uba-incur-n172-4-billion-in-windfall-taxes/feed/ 0 512135 Ondo State to launch digital platform to transform tax collection and other payments  https://nairametrics.com/2025/03/24/ondo-state-to-launch-digital-platform-to-transform-tax-collection-and-other-payments/ https://nairametrics.com/2025/03/24/ondo-state-to-launch-digital-platform-to-transform-tax-collection-and-other-payments/#respond Mon, 24 Mar 2025 17:28:49 +0000 https://nairametrics.com/?p=511744 Ondo State Governor, Lucky Aiyedatiwa, has announced the state’s readiness to roll out a digital platform aimed at streamlining tax collection and other government-related payments. This innovation is part of the government’s strategy to enhance revenue generation and improve accountability. The announcement was made on Monday after a demonstration of the platform by consulting firm, […]

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]]> https://nairametrics.com/2025/03/24/ondo-state-to-launch-digital-platform-to-transform-tax-collection-and-other-payments/feed/ 0 511744 Kaduna State generates N14.16 billion in IGR for January and February 2025 https://nairametrics.com/2025/03/21/kaduna-state-generates-n14-16-billion-in-igr-for-january-and-february-2025/ https://nairametrics.com/2025/03/21/kaduna-state-generates-n14-16-billion-in-igr-for-january-and-february-2025/#respond Fri, 21 Mar 2025 12:36:50 +0000 https://nairametrics.com/?p=511573 The Kaduna State Internal Revenue Service (KADIRS) has announced that it collected a total of N14.16 billion in Internally Generated Revenue (IGR) in the first two months of 2025, the News Agency of Nigeria (NAN) reports. This announcement comes in response to recent claims suggesting a decline in the state’s revenue generation under the administration […]

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]]> https://nairametrics.com/2025/03/21/kaduna-state-generates-n14-16-billion-in-igr-for-january-and-february-2025/feed/ 0 511573 Nigerian House of Reps passes tax reform bills https://nairametrics.com/2025/03/18/nigerian-house-of-reps-passes-tax-reform-bills/ https://nairametrics.com/2025/03/18/nigerian-house-of-reps-passes-tax-reform-bills/#respond Tue, 18 Mar 2025 17:44:55 +0000 https://nairametrics.com/?p=511324 The Nigerian House of Representatives has passed four key tax reform bills aimed at propelling Nigeria’s economy, completing their third reading on Tuesday following detailed deliberations.

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]]> https://nairametrics.com/2025/03/18/nigerian-house-of-reps-passes-tax-reform-bills/feed/ 0 511324