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…
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…
Registering for taxes with the Federal Inland Revenue Service (FIRS) is the first step in complying with the Nigerian tax law. After registration, FIRS will issue a tax identification number (TIN) to the new user. TIN is important for opening a corporate bank account, and issuing a tax invoice to a customer. Other benefits are…
What is TaxPro Max? TaxProMax is an online portal by the Federal Inland Revenue Service (FIRS) that seeks to ease tax compliance procedures in Nigeria. The electronic platform allows taxpayers to register for tax, and apply for and check the validity of tax clearance certificate (TCC). Other features include filing monthly and annual tax returns, file…
Technology has changed the way a business supplies goods or services. More so, a foreign company may not need to travel physically to conclude a transaction with a consumer in Nigeria. Another name for a foreign company is a non-resident company. In this article, we will learn how to register a foreign company for tax with…
Federal Inland Revenue Service (FIRS) has introduced a new feature to ease the registration of new taxpayers in Nigeria. The self-registration module on TaxPro Max allows taxable persons to register for taxes with FIRS online. Taxpayers can now register with FIRS online, given the need to improve the ease of doing business in Nigeria. Businesses…
Federal Inland Revenue Service (FIRS) will commence the review of taxpayers’ compliance with value added tax (VAT) and withholding tax (WHT) across the nation. The monitoring exercise on all taxable persons begins on Monday, October 23, 2023. Taxable persons include Non-Governmental Organisations (NGOs), Ministries, Departments, and Agencies (MDAs) of government. FIRS officers will visit assigned…
Finance Act (FA) 2023 contains changes in different provisions in the tax and other fiscal laws in Nigeria. FA 2023 will take effect from September 1, 2023 rather than May 1, 2023 based on the Finance Act (Effective Date Variation Order) 2023. Further to the new effective date for the FA 2023, the Federal Inland…
. The Federal Inland Revenue Service (FIRS) has given companies additional time to file 2023 Companies Income Tax (CIT) Returns due on June 30 2023. Every company whose income tax returns for 2023 assessment year fall due from the June 30 to August 31 2023 have up till August 31 2023 to submit the returns….
There is a new way to claim input value added tax (VAT) on the TaxPro Max. The Federal Inland Revenue Service (FIRS) has released a guide for taxpayers should file their VAT returns for April 2023 in May 2023. Every field deactivated earlier on will be enabled, while the automatic credit for purchases will be…