Stay updated on Nigeria’s latest tax news, policies, and reforms. Explore guides on corporate tax, small business exemptions, VAT, and government tax reforms to help you stay compliant and informed.
When you hear the term offshore investing, what comes to mind? Secret Swiss bank accounts? Billionaires hiding money on tropical islands? That’s the Hollywood version. In reality, offshore investing is a legitimate, strategic tool used by individuals and businesses around the world to diversify their portfolios, protect assets, and sometimes even reduce tax burdens—legally. Let’s…
When it comes to building wealth, it’s not just about how much you make — it’s about how much you keep. That’s where tax-efficient investing comes in. Smart investors don’t just chase returns; they structure their portfolios to minimize the drag of taxes, helping their money grow faster over time. In this post, we’ll break…
Introduction Cryptocurrency has gone from a niche tech experiment to a global financial trend. Millions of people now trade Bitcoin, Ethereum, and other tokens daily. But while the digital economy feels borderless and free, governments are catching up fast. Crypto may be decentralized, but taxes are not. How Governments See Crypto To tax authorities, cryptocurrency…
Introduction Climate change isn’t just an environmental issue—it’s also an economic one. Around the world, governments are turning to green taxes (also known as environmental taxes) to reduce pollution, encourage clean energy, and fund sustainability projects. But what exactly are green taxes, and how do they affect individuals and businesses? What Are Green Taxes? Green…
Introduction The rise of remote work has created a new class of professionals known as digital nomads—people who earn online while traveling the world. It sounds like freedom: work from Bali today, Lisbon tomorrow, Lagos next week. But one big question follows them everywhere: where do they pay taxes? The Tax Dilemma of a Borderless…
Introduction When most people think about taxes, the first things that come to mind are numbers, penalties, and government policies. But beyond the laws and figures lies a powerful factor that shapes how we respond to taxes—human psychology. From trust in government to social influence, our mindset plays a bigger role in tax compliance than…
Starting or running a business is more than just selling products or services. To succeed, it’s important to understand how businesses are classified. Business classification simply means grouping businesses into categories based on factors like ownership, size, activities, or structure. Knowing these classifications helps entrepreneurs, investors, and even governments understand how businesses operate and are…
The Federal Government has officially announced a major tax reform that will take effect from January 1, 2026. The update was shared by Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, in a post on X (formerly Twitter) on Monday, September 8. According to Oyedele, the reforms are covered under four…
Running a business in Nigeria can be rewarding, but one of the toughest hurdles entrepreneurs face is multiple taxation. From federal levies to state and local government demands, businesses often struggle with overlapping taxes and charges that reduce profits and discourage growth. Fortunately, with the right strategies, these challenges can be managed effectively. 1. Understand…
Tax Compliance in Nigeria Tax administration in Nigeria is handled by: Federal Inland Revenue Service (FIRS) – handles federal taxes (company income tax, VAT, etc.). State Internal Revenue Service (SIRS) – handles personal income tax (for sole proprietors and employees). Taxes You May Need to Pay: Apply for a TIN (free) from FIRS. Required for…
