The Federal Ministry of Finance has issued transition guidelines for the Tax Acts 2025 in Nigeria. The guidelines show the transition from repealed tax laws to the new laws, application, and administrative rules. Overview and Scope Key Principles Responsibilities of Taxpayers Transaction Taxes Conflict Resolution Administration and Compliance These Guidelines may be cited as the…
Individuals in Lagos State have extra time to file their annual tax returns. The Lagos State Internal Revenue Service (LIRS) has extended the time to file individual tax returns by fourteen (14) days. The initial due date of 31 March 2026 is no longer applicable, while the new deadline is Tuesday, 14 April 2026. The…
Taxable persons in Nigeria can check their TIN online. Note that the JTB website address; tin jtb gov ng for TIN registration and validation is inactive. Joint Revenue Board (formerly JTB) and the Nigeria Revenue Service (formerly Federal Inland Revenue Service) have made the procedure easy. Below is the link to the JTB validation portal;…
As part of the tax reforms in Nigeria, the functions and powers of the Joint Tax Board have been phased out. A new board, the Joint Revenue Board (JRB), will replace the JTB in 2026. One of the roles of the JTB was to give a tax identification number (TIN) to taxable persons in Nigeria….
Residents of Lagos State can get a TIN (taxpayer identification number) online. The TIN could be for an individual or a business. Lagos State Internal Revenue Service issues TIN to taxable persons in Lagos State. Applying for TIN with LIRS is easy to complete. Here are the steps to get a personal taxpayer ID if…
The Federal Government of Nigeria has published the Gazette of the Nigeria tax reform acts that were signed into law in 2025. Nigeria Tax Act 2025 (Fair Taxation) Nigeria Tax Administration Act 2025 Nigeria Revenue Service (Establishment) Act Joint Revenue Board (Establishment) Act 2025 The reform seeks to increase investor confidence, improve the tax system’s…
President Tinubu has signed Nigeria’s tax reform bills into law. The four tax reform bills are; Nigeria Tax Bill (Fair Taxation) Nigeria Tax Administration Bill Nigeria Revenue Service (Establishment) Bill Joint Revenue Board (Establishment) Bill The reform seeks to increase investor confidence, improve the tax system’s efficiency, and boost the economy. Download Nigeria Tax Act …
Businesses in Nigeria will file withholding tax (WHT) returns on TaxProMax for amounts withheld on payment to companies. Withholding tax deducted from certain transactions with companies is payable to the Federal Inland Revenue Service (FIRS). When the WHT return is filed successfully, the taxpayer will generate a reference code containing the payment details. The amount…
PAYE tax is calculated on employee’s salary and remitted monthly to the revenue authority. To calculate the monthly PAYE tax on employment income, use the free calculator below. Please note that the calculator is only an estimate and does not include the changes in the calculation of consolidated relief allowance in Finance Act. You can…
The value added tax (VAT) rate in Nigeria is seven point five percent (7.5%). However, the VAT rate cannot be applied to all transactions. Why? Some goods and services are either zero-rated or exempt from VAT. In such instances, the standard VAT rate in Nigeria of 7.5% will not apply to these items. Therefore, it…