What is VAT? Value Added Tax (VAT) is a tax imposed on the supply of goods and services. Under Nigerian law, the tax is charged at 7.5% of the value of the taxable goods and services. Despite a lot of speculation during the 2025 tax reform debates, the rate did not go...
What is a Tax ID (formerly TIN)? The Tax Identification Number — now officially called a “Tax ID” under Nigeria’s new tax laws — is a unique number that identifies a specific individual or business for the purposes of paying taxes. As tax payment is...
What is Personal Income Tax? Personal Income Tax is a direct tax charged on the income of a person. In the context of personal income tax, a ‘person’ means an individual, a sole proprietorship (non-juristic person), communities and families and on...
