Nigeria Revenue Service (NRS) has issued new guidelines imposing a 30 per cent corporate income tax on profits earned by medium and large companies from cryptocurrency and other virtual asset activities. The guidelines, published in a public notice on Monday, apply to companies, individual taxpayers, Virtual Asset Service Providers...
Tax Reform bills
Nigeria Revenue Service (NRS) has launched the Ideas Gateway Portal, a digital platform aimed at enabling taxpayers, businesses and other stakeholders to submit suggestions for improving Nigeria’s tax administration. The portal, accessible at ideasgateway.nrs.gov.ng, allows users to submit innovative proposals directly to the agency while tracking the progress of...
Nigeria Revenue Service (NRS) has reiterated its strong commitment to fostering voluntary tax compliance, marking one year since the launch of the country’s extensive tax reform program. In a statement commemorating the anniversary, the NRS emphasized that taxpayer education remains a fundamental element in sustaining the positive outcomes achieved...
Federal Capital Territory (FCT) Internal Revenue Service (IRS) has launched Taxporta, a new digital tax management platform aimed at simplifying tax administration, improving service delivery and increasing voluntary tax compliance across the FCT. The platform was unveiled on Monday July 7 during a stakeholders’ engagement with Ministries, Departments and...
Nigeria Revenue Service (NRS) has generated N21.6tn in revenue in the first half of 2026, representing a 49 per cent increase compared to the corresponding period of 2025, according to an economic report from the Presidency. The figures were contained in the Economic Snapshot Report 2023 vs 2026, obtained...
Chartered Institute of Taxation of Nigeria (CITN) has endorsed the country’s new tax regime, saying the reforms will ease the burden on households, support businesses and stimulate economic growth. Speaking during a tax awareness campaign in Abuja, the President of CITN, Innocent Ohagwa, said the reforms introduced several taxpayer-friendly...
King Charles III is set to make history by becoming the first British monarch to publicly disclose details of his personal tax payments. Buckingham Palace said the move is part of efforts to improve transparency and modernise the monarchy as public interest in royal finances continues to grow. Although...
Federal Government has issued the General Guidelines for the implementation of the Tax Acts 2025, setting out the process for transition from the repealed tax laws to the new tax framework effective from January 1, 2026. Issued by the Federal Ministry of Finance, the Guidelines provide direction to taxpayers,...
The Office of the Tax Ombud has launched a new digital Call Centre Portal and an integrated Case Management System aimed at improving taxpayer engagement and accelerating the resolution of complaints. Chief Press Secretary to the Tax Ombud, Chukwudi Achife, announced this in a statement issued on Tuesday in...
Nigeria Revenue Service (NRS) has launched a Unified Taxpayer Identification System for all taxable persons, marking a major step in its push to modernize tax administration. The rollout was announced Monday 18 by the NRS and the Joint Revenue Board (JRB) under Sections 6, 7 and 8 of the...
Nigeria Revenue Service (NRS) has declared that tax offices nationwide will now operate on Saturdays as well, in preparation for the launch of the Rev360 Phase I Tax Administration System. In a public notice dated May 7 and signed by the Executive Chairman of NRS, Dr. Zacch Adedeji, the...
President Bola Tinubu, on Tuesday in Abuja, said colonial-era tax laws impoverished Nigerians through fragmentation, multiplicity, and inconsistencies, and assured that the new reforms will deliver greater prosperity and inclusivity. President Tinubu emphasised that the new tax system is designed to be people-centred and investment-friendly, thereby advancing the nation’s...
Presidential Fiscal Policy & Tax Reforms Committee has dismissed reports alleging that the Honourable Minister of State for Finance, Taiwo Oyedele, admitted errors in Nigeria’s newly introduced tax laws, describing the claims as misleading and a distortion of his remarks. In a press statement issued on April 11, 2026,...
Students from four secondary schools in Plateau State engaged in debates on tax reform, corruption and civic responsibility during a competition organised by the Plateau State Internal Revenue Service (PSIRS) as part of activities marking the 2026 Taxpayers Month in Jos. Participants from Government Secondary School Anglo-Jos, Government Secondary...
The recent 10-point statement by Zacch Adelabu Adedeji, Executive Chairman of the Nigeria Revenue Service (NRS), offers a glimpse into a forward-thinking roadmap for the agency. It represents a fundamental pivot from aggressive enforcement to strategic “taxing of prosperity, not poverty.” At its core, the mandate collapses the old,...
Vice President Kashim Shettima, has said the implementation of new tax reforms will eliminate the burden of multiple levies and charges on small businesses and low-income earners in Nigeria, thereby helping to reduce poverty. Shettima noted that the planning and implementation of the tax reforms were carefully designed to improve...
President Bola Ahmed Tinubu today received Nigeria’s newly appointed Tax Ombudsman, John Nwabueze, at the State House, Abuja, as his administration advances far reaching reforms to strengthen tax administration and revenue governance. The establishment of the Office of the Tax Ombudsman is a key pillar of President Tinubu’s economic...
Independent Media and Policy Initiative (IMPI) has said that the tax reforms which have since come into operation are bound to improve Nigeria’s economic buoyancy in 2026 and beyond. In a statement signed by its Chairman Dr Omoniyi Akinsiju, the think tank insisted that the country’s revenue mobilization drive...
Executive Chairman of Cross River Internal Revenue Service (IRS), Edwin Okon, has disclosed that the newly signed tax reform bill by President Bola Tinubu is aimed at reducing the burden of majority of Nigerians . Okon said the tax reform is also targeting the poor and vulnerable in the...
Many bank customers have frowned at the 7.5 per cent Value Added Tax(VAT) on selected electronic banking services, saying taxes are becoming too much for citizens. Some of them who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, appealed to the Central Bank of Nigeria...