While parents and students pay 0% VAT at the till in both cases, the underlying accounting rules behind them determine whether a school gets to claim back millions of Naira in input costs or absorb them as an unrecoverable expense. If school proprietors, finance directors, and book publishers fail to grasp this distinction, they face unexpected cash flow drains, distorted fee structures, and sudden audit liabilities.
The Nigeria Revenue Service (NRS) has urged content creators and other operators in the creative industry to formalise their businesses, obtain tax identification numbers and maintain proper financial records to benefit from available tax incentives and investment opportunities.
Oyedele disclosed this while delivering the convocation lecture at the University of Uyo, Akwa Ibom State, where he called for increased investment in Nigeria's digital infrastructure to strengthen economic competitiveness and improve government revenue mobilisation.
Under Sections 33 to 34 of the Nigeria Tax Act (NTA) 2025, the scope of chargeable assets is dramatically extensive. The law treats virtually all forms of property, whether situated in Nigeria or anywhere else in the world as chargeable assets.
Traders and transporters facing repeated payment demands could get relief under tax laws adopted by 21 states, although the Joint Revenue Board says illegal collections and harassment continue.
NGX Group brought in more business during the third quarter, but rising expenses consumed the additional income and part of its operating profit. For shareholders drawn to its 83% increase in nine-month pretax earnings, the latest quarter presents a more demanding test of the company’s performance.
Under the Nigeria Tax Act (NTA) 2025 and the Nigeria Tax Administration Act (NTAA) 2025, the days of casually mixing personal and business funds are gone. Tax authorities are no longer guessing; they have systems, data-matching tools, and strict rules.
Under the old, repealed Value Added Tax Act, businesses were trapped in an unfair, distorted tax system that treated essential operational expenses as luxury overheads.
If your organization still handles tax correspondence with that casual approach, your business is operating under a severe financial hazard. Under Section 108 of the Nigeria Tax Administration Act (NTAA) 2025, the government has fundamentally overhauled the penalty regime for non-responsiveness and information withholding.
Nigeria's federally collected revenue received a major boost in August 2026 as the Nigeria Revenue Service (NRS) generated N3.70 trillion in tax and related revenue, driven largely by strong petroleum taxes, royalties and Value Added Tax (VAT) receipts.
An Akwa Ibom State High Court sitting in Uyo has dismissed a petition seeking the dissolution of a marriage that has lasted over 43 years, ruling that lack of love and mutual respect between spouses does not, on its own, constitute sufficient legal grounds for divorce.
