News as it breaks
The Federal Government of Nigeria has clarified that all income earned within Nigeria, including money made by commercial sex workers, social media influencers, and remote workers, will be subject to taxation under the country’s new tax reform laws, set to take effect from January 1, 2026. This was disclosed by…
The Federal Inland Revenue Service (FIRS) has called on Nigerians to view tax payment not as a burden, but as a civic responsibility essential to national development. The appeal was made during a one-day sensitisation programme held in Kaduna on Wednesday, themed “The Role of Media in Voluntary Tax Compliance.”…
In a major fiscal breakthrough, Nigeria’s monthly revenue collection has surged by over 411%, rising from N711 billion in May 2023 to N3.64 trillion as of August 2025, according to the Chairman of the newly renamed Nigerian Revenue Service (NRS), Zacch Adedeji. The sharp rise reflects the impact of comprehensive…
“The relevant CIT returns shall, therefore, not attract Late Filing Penalty or interest for late payment if submitted to the Service on or before 31st August 2023.
According to the Constitution of the Federal Republic of Nigeria 1999: Section 24 (f) of 1999 Constitution (as amended) it states that “it shall be the duty of every citizen to declare his income honestly to appropriate and lawful agencies and pay his tax promptly”. This is a legal requirement and it is fundamental to the successful operations of the country. Mind you, it is not an option or a recommendation but an obligation of every Nigerian citizen.
Tax-to-GDP ratio is a measure of a nation’s tax revenue relative to the size of her economy as measured by Gross Domestic Product (GDP).
Nigeria, while calling for a global taxation regime under the United Nations, harped on the importance of enhancing domestic resource mobilization among member States to address their economic challenges.
A bill for an Act to establish the Nigeria College of Taxation and Fiscal Studies passed its Second Reading last week at the Senate. The presentation of the Bill was made by Senator Abdullahi Aliyu Sabi CON on the floor of the Senate Tuesday last week, where he noted that…
“The global tax arena is continually changing,” he noted. “The growing reliance on technology for much of basic human needs, social interactions and business dealings means that the tax-turf remains in a state of constant flux.
Unfortunately some people do not see the need to pay taxes yet they want government to miraculously meet their needs by fulfilling its responsibilities. How can that be, where will the funds come from?
