Nigeria Exempts Land, Buildings and Rent from VAT
By Sofiat Adenekan -Abdul The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, says land, buildings and rent are now fully exempt from Value Added Tax (VAT) under the Nigeria Tax Act 2025. Oyedele said the law, which has already taken effect, is aimed at reducing housing costs, encouraging real estate […]
Nigeria’s Tax Reforms Must Build Trust – Dogara
By Oluwakemi Kindness Former Speaker of the House of Representatives, Yakubu Dogara, has emphasized that Nigeria’s new tax reforms will only succeed if citizens trust the government to deploy resources responsibly. Speaking at the inaugural Distinguished Parliamentarian Lecture organized by the House of Representatives Press Corps, Dogara said: “True tax reform is not about raising […]
Not All Bank Deposits Are Taxable – FIRS
By Oluwakemi kindness The Federal Inland Revenue Service (FIRS) has clarified that not all funds deposited in individual bank accounts are subject to taxation. The recent comment counters widespread misconceptions surrounding the recently passed tax reforms. Speaking at the inaugural parliamentarian lecture by the House of Representatives Press Corps, Special Assistant to the FIRS Chairman […]