FG Cuts Late Tax Payment Interest Rate
By Oluwakemi Kindness The Federal Government has reduced the interest charged on late payment of taxes in naira from five percentage points above the Central Bank of Nigeria’s Monetary Policy Rate to one percentage point. The new rate takes effect from October 1, 2026, according to a statement on Thursday by the ministry. The Minister […]
FCT-IRS Launches Taxporta to Simplify Tax Payment, Filing
By Sofiat Adenekan-Abdul Taxpayers in the Federal Capital Territory will no longer need to visit tax offices to register, file returns, make payments or obtain Tax Clearance Certificates following the launch of Taxporta, a new digital tax administration platform by the Federal Capital Territory Internal Revenue Service (FCT-IRS). The platform, unveiled during a stakeholders’ engagement […]
ICPC, NRS Partner to Tackle Tax Evasion in Borno
By Sofiat Adenekan-Abdul The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has partnered with the Nigeria Revenue Service (NRS) in Borno State to combat tax evasion and address cases of staff bullying during revenue enforcement operations. The partnership was announced on Thursday during a sensitisation meeting with staff of the Nigeria Revenue Service […]
Tax Ombudsman Pushes Fairness in Nigeria’s Tax System
By Oluwakemi Kindness Nigeria’s Tax Ombudsman, John Nwabueze, has called for a shift in the country’s tax culture, advocating for one built on trust and understanding rather than fear or coercion. He stated this at the 159th meeting of the Joint Revenue Board in Lagos, where he stated that improving tax compliance depends on strengthening […]
FCT-IRS Extends Individual Tax Return Deadline to April 30
By Oluwakemi Kindness The Federal Capital Territory Internal Revenue Service (FCT-IRS) has extended the deadline for filing individual annual income tax returns by one month. The new deadline is now April 30, 2026, instead of the statutory March 31. Acting Executive Chairman of the FCT-IRS, Michael Ango, said the extension is to give taxpayers more […]
Health Ministry Received Only ₦36m of ₦218bn Capital Budget — Pate
By Oluwakemi Kindness The Minister of Health, Prof. Mohammed Pate, says the Federal Ministry of Health received only ₦36 million out of the ₦218 billion approved for its 2025 capital expenditure. Pate disclosed this on Monday, during the Ministry’s 2026 budget defence before the House Committee on Healthcare Services. He described the situation as a […]
Minority Caucus Warns House Against Ignoring Interim Report on Tax Law
By Oluwakemi Kindness The Chairman of the Minority Caucus Ad-hoc Committee on Tax Laws, Afam Victor Ogene, has warned that dismissing the caucus’ interim report on alleged alterations to the Tax Reform Acts could encourage impunity and undermine the independence of the National Assembly. Ogene’s comments came after the House Deputy Spokesperson, Philip Agbese, reportedly […]
Reps Rejects Minority Caucus Committee Report on Tax Laws
By Oluwakemi Kindness The House of Representatives has rejected claims that its Minority Caucus constituted an ad hoc committee to re-examine recently enacted tax laws, insisting that such a move has no legal or parliamentary backing. In a statement issued on Sunday, the House Spokesman, Akin Rotimi Jnr, clarifies that only committees constituted by the […]
House Minority Caucus Confirms Illegal Alterations in Nigeria’s Tax Laws
By Oluwakemi Kindness The House of Representatives Minority Caucus has confirmed that discrepancies exist between the tax laws passed by the National Assembly and the versions later gazetted by the Federal Government. The confirmation comes after Abdulsamad Dasuki raised alarms over the circulation of unauthorized versions of the laws. In response, the Minority Caucus, led […]
VAT on Bank Charges Not New – NRS
By Oluwakemi Kindness The Nigeria Revenue Service (NRS) says Value-Added Tax (VAT) on bank charges is not a new policy and was not introduced by the Nigeria Tax Act. In a statement issued on Thursday, the Service describes claims of a fresh VAT burden on banking transactions as inaccurate. It clarifies that VAT has long […]