Echotitbits – Nigeria News

Tag: FIRS

  • Tinubu insists new national tax laws start January 1 despite calls for delay over “gazette” dispute

    Tinubu insists new national tax laws start January 1 despite calls for delay over “gazette” dispute

    2026-01-02 09:00:00
    In a report filed by Reuters, President Bola Tinubu said Nigeria will proceed with implementing new tax laws from January 1, 2026, despite criticism and calls for delay tied to disputes over the gazetted text versus what lawmakers passed.

    The dispatch notes that opponents have alleged unauthorized insertions and warned about expanded enforcement powers, while the presidency argued there was no substantial issue that should pause the reforms and described the change as a major fiscal reset.

    The controversy is unfolding alongside broader reforms, with the government leaning on a tax overhaul as a revenue and efficiency lever.

    Validation: TheCable reported legislative voices urging suspension until allegations are resolved, noting the rollout is “scheduled to begin in January.” Reuters quoted Tinubu’s framing of the reform as a “once-in-a-generation” fiscal reset.

    Echotitbits take: The reform will be judged by whether it reduces friction (harmonisation, clarity, lower compliance pain) or becomes an enforcement brawl. Watch the implementation guidelines, dispute-resolution mechanics and whether businesses see predictable rules rather than surprise powers.

    Source: Reuters — 2025-12-30 (https://www.reuters.com/world/africa/nigeria-implement-new-tax-laws-january-1-despite-calls-delay-tinubu-says-2025-12-30/)
    Reuters 2025-12-30

    Photo Credit: Reuters

  • N’Assembly opens tax-acts paperwork to the public as “gazette mismatch” row grows

    N’Assembly opens tax-acts paperwork to the public as “gazette mismatch” row grows

    2026-01-02 06:00:00
    According to Punch, Nigeria’s National Assembly says it will publish the Votes and Proceedings from both chambers alongside the gazetted versions of the new Tax Acts, after allegations that the text in circulation differs from what lawmakers passed.

    The House leadership says the clerk will also make available the transmitted tax bills signed by the president, including the certificate pages, as part of an effort to calm the controversy and restore confidence in the documentation trail.

    Lawmakers have already constituted an ad hoc committee to review the alleged inconsistencies and report back, with officials framing the move as a transparency step rather than a reversal of the reforms.

    Premium Times reports the legislature is “promising to make available certified copies of the bills signed” to address public concerns, noting the Assembly’s directive to release those documents. Reuters, meanwhile, says the dispute centres on “discrepancies between the gazetted text and the version passed by lawmakers,” as the reforms move into implementation.

    Echotitbits take: This is a rare “open-the-files” moment for Nigeria’s legislature. If the certified versions don’t match what businesses are already pricing into contracts and tax planning, expect urgent circulars, re-gazetting, and possible legal challenges. Watch the ad hoc committee’s report and any guidance from FIRS/Nigeria Revenue Service on transitional enforcement.

    Source: The Punch — January 2, 2026 (https://punchng.com/nassembly-invites-public-to-scrutinise-tax-laws/)
    The Punch 2026-01-02

    Photo Credit: The Punch

  • Nigeria’s revenue agency rebrands as Nigeria Revenue Service, unveils new logo

    Nigeria’s revenue agency rebrands as Nigeria Revenue Service, unveils new logo

    2026-01-01 07:05:00
    According to Punch, Nigeria’s former Federal Inland Revenue Service has formally transitioned to the Nigeria Revenue Service (NRS) and unveiled a new corporate identity as part of a wider revenue-administration overhaul.

    The agency’s leadership framed the change as more than a cosmetic update—positioning it as a unified, service-focused revenue authority aligned with Nigeria’s economic transformation agenda.

    The rollout is linked to the legal framework establishing the NRS, with expectations of improved efficiency, transparency and taxpayer-facing service upgrades.

    The Guardian Nigeria also described the rebrand as “an important milestone in the evolution of Nigeria’s revenue administration framework.”

    Leadership similarly reported the agency “unveils official logo” as it transmutes into the NRS.

    Echotitbits take:

    The real test isn’t branding—it’s delivery. Watch for clearer taxpayer guidance, faster dispute resolution, smarter digital enforcement, and proof that reforms expand the tax net without punishing already-compliant businesses.

    Source: The Punch — January 1, 2026 (https://punchng.com/nigeria-revenue-service-replaces-firs-unveils-new-logo/)

    The Punch 2026-01-01

    Photo Credit: The Punch

  • Tax Reform Faces New Headwinds as Reps Minority, Students Demand Suspension

    Tax Reform Faces New Headwinds as Reps Minority, Students Demand Suspension

    2025-12-30 10:00:00

    In an update published by Punch, Nigeria’s newly enacted tax laws hit fresh turbulence after the House Minority Caucus and the National Association of Nigerian Students urged the Federal Government to halt rollout amid claims of post‑passage alterations.

    The report said the FCT High Court fast‑tracked hearing in a suit challenging the Acts’ authenticity and a proposed January 1, 2026 start date. Lawmakers warned that enforcement under disputed texts would undermine legislative integrity.

    Punch also reported that NANS threatened protests unless implementation is suspended, while the House set up an ad hoc committee to investigate the alleged alterations.

    Ametrocopy summarised the dispute and reported that the court ordered accelerated hearing, echoing that opponents want implementation paused while the text controversy is investigated, describing the case as moving on a “fast track.” Punch’s editorial stance also captured the tension, urging authorities to “correct the alleged errors and sustain the January 1, 2026, take‑off date.”

    Echotitbits take: This is a credibility test for reform. If the public believes the gazetted text differs from what lawmakers passed, compliance will crater. Watch for (1) the ad hoc committee’s findings, (2) publication of Clerk‑authenticated copies, and (3) whether government negotiates a short implementation shift to rebuild trust.

    Source: The Punch — December 30, 2025 (https://punchng.com/tax-laws-reps-caucus-opposes-rollout-court-battle-begins-wednesday/)

    The Punch 2025-12-30

    Photo Credit: The Punch

  • FAAC review flags weak responses from firms in road tax credit scrutiny

    FAAC review flags weak responses from firms in road tax credit scrutiny

    2025-12-29 09:00:00
    In an update published by Punch, FAAC’s post-mortem sub-committee reviewing the Road Infrastructure Tax Credit Scheme reportedly received responses from only three of seven companies contacted, raising fresh questions around transparency and project accountability.

    The scheme allows companies to build eligible roads and offset costs against future tax liabilities, making it a large fiscal lever that directly affects distributable revenue.

    The central issue now is governance: whether project valuation, scope, and delivery milestones align with tax credits claimed across participating firms.

    ThisDay reports that “a combined $577.6 million and N822.3 billion were utilised under the scheme,” while ARISE News says the panel is probing “the scale of deductions, transparency of project execution and accountability.”

    Echotitbits take: Tax-credit infrastructure can be smart—if procurement and monitoring are airtight. If not, it becomes a quiet drain on FAAC. Watch for the committee’s recommendations and whether disclosure rules get tougher.

    Source: The Punch — December 29, 2025 (https://punchng.com/faac-flags-poor-responses-in-road-tax-scheme/)
    The Punch 2025-12-29

    Photo Credit: The Punch

  • National Assembly moves to publish certified copies of tax reform laws amid alteration claims

    National Assembly moves to publish certified copies of tax reform laws amid alteration claims

    Photo Credit: The Punch
    2025-12-27 06:00:00

    In an update published by Punch, the National Assembly reportedly directed its administrative leadership to provide Certified True Copies of recently passed tax laws to the public and key stakeholders.

    The move follows claims that versions circulating in public space do not perfectly reflect what lawmakers passed, and it is framed as a step to protect the integrity of the legislative record.

    Policy analysts say publishing verified copies quickly can reduce uncertainty for businesses and taxpayers, especially ahead of implementation deadlines and compliance planning.

    Echotitbits take:
    Transparency here is not cosmetic—it’s market‑relevant. Watch how quickly the certified versions are released, whether agencies align their guidance to the same text, and how courts may treat any disputes over “which version” applies.

    Source: The Punch— December 26, 2025 (https://punchng.com/nassembly-directs-provision-of-tax-laws-ctc/)
    The Punch December 26, 2025

  • FIRS Taps PwC to Help Businesses Plug Into Mandatory E-Invoicing Regime

    FIRS Taps PwC to Help Businesses Plug Into Mandatory E-Invoicing Regime

    Photo Credit: The Punch
    2025-12-26 06:30:00

    Figures cited by *PUNCH* show Nigeria’s tax authority is accelerating its push into transaction-level digital reporting, with PwC Nigeria accredited to support integration into the Monitoring, Billing and Settlement (MBS) platform that underpins mandatory e-invoicing.

    The move signals a shift from retrospective filings toward near real-time validation, placing new compliance and systems demands on corporates, SMEs, and high-volume retail sectors that issue invoices at scale.

    For businesses, the operational implication is clear: e-invoicing becomes a systems-and-controls project—touching ERPs, point-of-sale, audit trails, and data governance—rather than a “tax department only” problem.

    The policy aim is broader transparency and reduced leakage, but the transition could be bumpy for firms with weak digitisation or inconsistent record-keeping.

    *THISDAY* quoted PwC’s Chijioke Uwaegbute saying, “e-Invoicing embeds tax compliance directly into everyday business activity,” while *BusinessDay* noted the regime “requires invoices to be authenticated at source,” reinforcing that integration is becoming a regulatory necessity, not a technical extra.

    Echotitbits take: Nigeria is moving toward the global direction of continuous transaction controls. The big watch item is execution—clarity of timelines, sandbox testing, cost burden on SMEs, and whether enforcement is paired with support to avoid a compliance shock.

    Source: The Punch — Dec 26, 2025 (https://punchng.com/firs-accredits-pwc-as-system-integrator-for-e-invoicing/)

    Photo credit/source: The Punch
    The Punch 2025-12-26

  • House Panel Fast-Tracks Probe Into Alleged “Gazette” Tax-Law Discrepancies

    House Panel Fast-Tracks Probe Into Alleged “Gazette” Tax-Law Discrepancies

    Photo Credit: The Punch
    2025-12-25 10:00:00

    Reporting by Punch indicates Nigeria’s House of Representatives panel investigating alleged inconsistencies between tax laws passed by lawmakers and versions later gazetted has promised to finish quickly and submit a report without delay.

    The panel, chaired by Muktar Betara, was constituted after lawmakers raised concerns that provisions in the gazetted laws may differ materially from what the National Assembly approved—raising questions about legislative integrity and the reliability of statutes being implemented.

    The controversy has also drawn political pressure, with Senator Ali Ndume urging President Bola Tinubu to pause implementation of disputed tax reform measures slated for January until independent verification is completed.

    Elsewhere, The Guardian reported that the committee pledged to submit its findings once work is concluded, while quoting Taiwo Oyedele calling for patience: “let’s wait for the investigation to establish what indeed happened.” BusinessDay similarly reported the House set up a seven-member committee to investigate “alleged discrepancies” between gazetted tax laws and the versions passed by the National Assembly.

    Echotitbits take: This is becoming a credibility test for Nigeria’s fiscal reform push. If the “gazette vs passed copy” gap isn’t resolved transparently, enforcement will face legitimacy challenges, litigation risk, and compliance pushback. Watch for whether the panel publishes a side-by-side reconciliation of disputed clauses—and whether implementation timelines shift.

    Source: The Punch — December 25, 2025 (https://punchng.com/house-begins-tax-law-probe-ndume-pushes-for-suspension/?utm_medium=web&utm_source=top-story)

    The Punch 2025-12-25

  • Nigeria’s Tax Agencies Can’t Just Debit Your Account — Oyedele Warns

    Nigeria’s Tax Agencies Can’t Just Debit Your Account — Oyedele Warns

    Photo Credit: The Punch
    2025-12-25 09:00:00

    According to The Punch, Presidential Fiscal Policy and Tax Reforms Committee chair Taiwo Oyedele says tax authorities cannot simply “dip hands” into bank accounts without going through due legal process. He explained that while a “power of substitution” process exists, it is not a shortcut to bypass the courts.

    Oyedele said the typical pathway requires an assessment, notice, and (where disputed) a legal determination before any enforcement action against a taxpayer’s funds. He framed the issue as a rule-of-law matter that protects both citizens and businesses from arbitrary action.

    The comment comes amid recurring complaints from individuals and SMEs about sudden debits and bank restrictions linked to tax compliance disputes, with Oyedele urging taxpayers to understand their rights and challenge improper actions through lawful channels.

    Separately, BusinessDay quoted Oyedele saying, “Nobody will debit your bank accounts without a court order,” while TheCable reported him stressing, “Even if you have N1 billion in your account… nobody can debit your bank account without a court order.”

    Echotitbits take: This is an important signal to calm public anxiety around tax enforcement. Watch what FIRS and state IRS agencies do next—policy clarity is one thing; operational compliance across banks and tax offices is another. Expect more taxpayer education, and possibly stronger complaint-resolution channels, if the reforms team wants legitimacy.

    Source: The Punch — December 25, 2025 (https://punchng.com/tax-agency-cant-debit-accounts-without-court-order-oyedele/)

    The Punch 2025-12-25

  • FIRS moves to make NIN and CAC numbers the backbone of Nigeria’s tax IDs

    FIRS moves to make NIN and CAC numbers the backbone of Nigeria’s tax IDs

    Photo Credit: The Nation
    2025-12-24 06:12:00

    Reporting by The Nation indicates the Federal Inland Revenue Service (FIRS) is pushing a unified identity approach for taxation—where individuals’ NIN and companies’ CAC registration numbers function as the primary tax identifiers.

    The change is positioned as a cleanup of Nigeria’s fragmented tax identity ecosystem—multiple identifiers, inconsistent databases, and loopholes that make compliance tracking and enforcement harder.

    By linking tax identity to the national identity system and corporate registry, authorities say they can reduce duplication, improve taxpayer coverage, and make it harder to “disappear” across systems.

    For individuals and businesses, the biggest shift is conceptual: you’re expected to treat your NIN/CAC number as your tax identity anchor, with tax records mapped to that single ID across agencies.

    The Guardian quoted FIRS: “For individuals, your NIN automatically serves as your Tax ID… You do not need a physical card,” and Channels TV echoed the same clarification: “You do not need a physical card; the Tax ID is a unique number linked directly to your identity.”

    Echotitbits take: This can either tighten compliance or widen mistrust, depending on how transparently it’s implemented. Watch for data-protection safeguards, dispute-resolution for wrong linkages, and whether state tax authorities harmonise—or keep parallel systems that recreate confusion.

    Source: The Nation — December 23, 2025 (https://thenationonlineng.net/nin-becomes-automatic-tax-id/)
    The Nation 2025-12-23