Though several Nigerians seemingly adopted online platforms during the lockdown, the volume of financial transactions dropped. Numbers seem to be recovering, but businesses may soon need to be wary of…
Nigeria’s tax regulator wants to digitally verify taxes paid by telcos
Nigeria’s taxman, FIRS, has finalised plans to integrate a technology solution (API) that will verify the accuracy of taxes paid by telecom operators. What could this mean for businesses in the …
3 financial measures that could cushion Nigeria’s lockdown extension
Nigeria’s lockdown of major states has brought about substantial financial uncertainty, and with individuals and businesses set to weather the storm for two or more weeks, we look at some measures tha…
Early-stage startups will no longer have to pay tax, if Nigeria’s Finance Bill is passed into law
Highlighting the provisions of the finance bill, Nigeria’s minister of finance has revealed that firms making less than $68,500 annually, do not have to pay taxes while medium-sized business will have…
FIRS gets a new chairman, what will be the fate of Fowler’s plan to charge VAT on online purchases?
Babatunde Fowler has been replaced by Muhammad Nami as FIRS Chairman. What will be the fate of the agency’s plan to begin charging VAT on online purchases in 2020? …
Paying VAT on online transactions for VATable items is the law — FIRS Chairman
In order to get a clearer view of the FIRS’ intention to impose VAT on online transactions, Techpoint recently sat down for a chat with Tunde Fowler, Executive Chairman of FIRS. In this interview, he …
Fact Check: There is no new tax for online transactions in Nigeria
Earlier this month, reports suggesting that FIRS wants to impose a new 5% VAT on local online transactions in Nigeria were circulating the Internet. However, it’s not as bad as many people think…
Nigerian startups older than 18 months have till March 31 to file tax returns, or else
Barring any extension, the Voluntary Asset and Income Declaration Scheme (VAIDS) will come to an end on March 31, 2018. VAIDS, an initiative by the Federal Government to allow Nigerians regularise the…
The Nigerian Government wants to increase taxes on your Phone and Pay TV bills
The National Assembly is pushing for a new bill to be enacted into law. “If it’s not their primary job, then what is” you’d ask. Well the supposed bill, if pushed through would, see subscribers pay ad…
Which Way Nigeria – Innovative Technology or Manual Efforts?
The question has been asked a thousand and one times: What is the worth of the Nigerian life? Perhaps one should stream it down to: What is the worth of the Nigerian labour? Or if you please: What is …
