new tax laws

  1. NOA Clarifies New Tax Laws: 'No Automatic Deductions from Bank Accounts'

    Nigeria NOA Clarifies New Tax Laws: 'No Automatic Deductions from Bank Accounts'

    The Digest: The National Orientation Agency (NOA) has moved to calm public fears, explicitly stating that the Federal Government will not make automatic tax deductions from citizens' personal bank accounts. The agency attributed the widespread anxiety to a misinterpretation of the new tax...
  2. FG to Tax Petrol Consumption by 5% in 2026

    Nigeria FG to Tax Petrol Consumption by 5% in 2026

    The Digest: The Nigerian government will introduce a new tax on petrol consumption starting in January 2026. Under the new law, Nigerians will pay a 5% tax, which amounts to N500 on every N10,000 they spend on petrol. The levy is designed to discourage fossil fuel use and push citizens toward...
  3. Banks to Report N25m/N100m Monthly Transactions to Tax Authorities

    Nigeria Banks to Report N25m/N100m Monthly Transactions to Tax Authorities

    The Digest: The Nigerian government has implemented a stringent requirement for banks and financial institutions. From now on, any individual with transactions exceeding N25 million monthly, or firms with over N100 million, must be reported to the tax authorities. These measures aim to tighten...
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