The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, has stated that Small and Medium Enterprises will pay less tax in January 2026 when the new tax law takes effect. Oyedele said this while speaking at the 24th annual conference of Women in Management, Business, and Public Service, which is…
President Bola Tinubu on Friday urged Nigerians to try a newly launched Personal Income Tax calculator that estimates how much would be paid under the tax reforms his administration recently signed into law. In a post on social media, the President said the calculator allows citizens to compare their estimated tax under the proposed reforms…
TODAY’S VIEWPOINT LOOKS AT REFORMS, TAXES AND NIGERIA’S FUTURE A common denominator aching the average Nigerian, entrepreneurs and the private sector, is the economic climate. Like a nimbus, it paints an atmosphere of a future of uncertainties despite assurances from government. To the man on the streets and civil servants, tax increase is crippling, making…
Kogi State Governor, Alhaji Usman Ododo, has directed the immediate cessation of the policy mandating the presentation of parents’ Tax Clearance Certificates (TCC) as a prerequisite for students’ enrolment in state-owned tertiary institutions. The announcement was made by the Chairman of the Kogi State Internal Revenue Service (KGIRS), Alhaji Sule Enehe, during a media briefing…
The report, however, showed that the Federal Capital Territory did not collect any road tax revenue in 2023. The National Bureau of Statistics (NBS) has said that Nigerians paid about 63 per cent more as road taxes to state governments in 2023, highlighting the growing importance of road taxes in state-level finances. The report, however,…
A new bill has been proposed in Nigeria that will require individuals engaged in banking, insurance, stock-broking, or other financial services to provide a Tax Identification Number as a precondition for opening a new account or operating an existing one. According to the bill, titled “A Bill for an Act to Provide for the Assessment,…
The Federal Government has approved the exemption of small businesses, manufacturers and farmers from paying withholding tax as a way of reducing the tax burden on businesses. It also introduced key changes to the previous tax regime such as reduction of rates for businesses with low margins and measures to curb evasion. The Chairman of…
Deputy Speaker of the House of Representatives, Benjamin Kalu, has said that Nigeria’s current tax system is suffering from inefficiency, leading to some of the lowest tax collection rates in the world.Speaking at a two day retreat of the House on Economic transformation and development on Tuesday in Abuja, Kalu put the nation’s tax collection…