The claim that Nigerians are now required to pay 7.5 percent on every bank transfer is MISLEADING. The VAT does not apply to the total sum of money to be transferred but on the bank charges for every transfer.
Understanding New Tax Regime As FIRS Changes Name To National Revenue Service
Understanding New Tax Regime As FIRS Changes Name To National Revenue Service On January 1, The Federal Inland Revenue Service, FIRS, was formally replaced by the Nigeria Revenue Service, NRS, as Nigeria’s central revenue authority. This change stems from the Nigeria Revenue Service (Establishment) Act, 2025, which repealed the old FIRS Act (2007) and created […]
