The Federal Inland Revenue Service (FIRS) has reaffirmed its commitment to fostering trust and promoting voluntary tax compliance among entrepreneurs, small businesses, and players in Nigeria’s informal sector. This renewed focus comes in preparation for the 2025 edition of its flagship outreach initiative, the Tax Clinic—a programme aimed at enhancing tax education and encouraging compliance […]

The Federal Government’s decision to postpone an increase in the Value Added Tax (VAT) rate could lead to a revenue shortfall of up to 0.5% of Nigeria’s Gross Domestic Product (GDP), according to a new report by the International Monetary Fund (IMF). In its latest Article IV Consultation Report, the IMF acknowledged recent tax reforms