PAYE Under the New Nigeria Tax Acts: What Employees and Employers Need to Know
Nigeria’s new PAYE regime, effective from 1 January 2026, introduces significant changes to payroll tax calculations, allowable deductions, filing obligations, and compliance requirements under the Nigeria Tax Act, 2025 and the Nigeria Tax Administration Act, 2025. This article explains the new tax bands, rent relief, employer and employee responsibilities, filing deadlines, and penalties for non-compliance, helping businesses, HR professionals, payroll administrators, and employees understand how to comply with the updated rules.
Withholding Tax In Nigeria
Taxation is an essential aspect of any country’s economic system, and Nigeria is no exception. As a Nigerian taxpayer, it’s crucial to understand the various
FIRS introduction of National E-invoicing regime: The Electronic Fiscal System (EFS) fork Large Taxpayers
The Federal Inland Revenue Service’s (FIRS) introduction of a mandatory Electronic Invoicing (e-Invoicing) framework represents a pivotal strategic shift in Nigeria’s tax administration
Importance Of Financial Records In An Organization
The Role of Financial Records: As a business owner, keeping track of your company’s finances is vital to its success. Accurate bookkeeping and financial records
Importance of Internal Control
Internal control is a critical framework that organizations use to safeguard their assets, ensure the accuracy of financial reporting, and promote operational efficiency.
Nigeria Revenue Service (NRS): Leaner, Meaner Tax Machine
Nigeria’s Senate has approved a groundbreaking Tax Reform Bill designed to overhaul the country’s fiscal system and enhance non-oil revenue generation. As the bill moves to President Tinubu’s
Materiality In Audit
“Materiality is a fundamental concept in auditing, representing the point of significance at which auditors assess the presence of material misstatements within financial statements.
An Acumen On The Proposed Finance Bill 2023
The Finance Bill is a proposed legislation introduced by the Nigerian government to make changes to the country’s tax laws and revenue collection processes
Personal Income Tax Filing
Preparations for 2021 should include plans to render income tax returns due in the first
month/quarter of the next year
The Auditor’s Liability
Auditors’ liabilities are legal claims made against auditors for losses suffered as a result of negligent or careless auditing. Legal claim can be made against