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HISTORY AND OPERATIONS OF STAMP DUTIES

The position of the law on stamp duty recently is that it is the responsibility of the FIRS to collect stamp duty on behalf of the Federal Government. This is the tenable position in the light of available evidence. In the first instance, since 1939 ... Read More

NIGERIAN TAX SYSTEM: STRUCTURE AND ADMINISTRATION

Nigerian Tax Laws Taxes are established by law in Nigeria. By implication, such tax must have been passed into law through enactment of relevant statute (Act, By-law, decree among others). The tax law establishes the administrative body and specify its tax jurisdiction. Tax laws impose ... Read More

ON FIRS AND NIPOST-STAMP DUTIES COLLECTION

The Nigeria Postal Service and the Federal Inland Revenue Service have been at loggerheads over which of the Nigerian government’s agency is constitutionally backed to collect stamp duty taxes in the country. Call to mind that the government through the FIRS had increased the payment ... Read More

LIST OF TAXES IN NIGERIA

Company Income Tax (CIT) this is one of the major types of taxes collected by Federal Inland Revenue Service (FIRS) and chargeable on all companies (other than Companies engaged in petroleum operations) incorporated in Nigeria. It is charged on profits that  accrue in, be derived from, ... Read More

TAX CONCESSIONS AND RELIEFS

COVID-19 : STATEMENT ON PALLIATIVE MEASURES TO CUSHION EFFECTS ON TAXPAYERS

FIRS Remains committed to supporting the Taxpayers

TGIF ACCOUNT

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Accountsmate IFRS

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Company Income Tax

Withholding Tax

HISTORY AND OPERATIONS OF STAMP DUTIES

NOTIFICATION OF CHANGE OF PARTICULARS
When Do You Need to File a Notification?
Life and business move fast. You must notify the tax authorities if any of the
following occur:
For Individuals
Change of Name: Usually due to marriage or legal deed poll.
Change of Address: Moving your primary residence (this may affect which
State Internal Revenue Service you pay your PAYE or personal income tax
to).
Change of Employment: Transitioning from an employee (PAYE) to a
self-employed person or business owner.
Contact Information: Updates to your phone number or the email address
linked to your NIN/TIN.
Change in Business Name: If the company rebrands or changes its
registered name with the CAC.
Change in Registered Office: Moving the physical headquarters or principal
place of business.

Changes in Directorship: When directors resign or new ones are appointed.

Nature of Business: If a company shifts from, for example, "General
Contracts" to "Oil and Gas Services" (this often changes the tax rate or
applicable incentives). -
Cessation of Business: If the business stops operating entirely, you must
notify the NRS to prevent continuous "Best of Judgment" (BOJ)
assessments.

  1. Why It Matters
    Failing to update your records is more than a clerical error; it carries real-world
    consequences: - - - -
    Invalid Tax Clearance Certificates (TCC): If your records on the NRS portal
    don't match your current CAC status, your TCC application will likely be
    rejected.
    Missed Legal Notices: The law considers a notice "served" if it is sent to
    your last known address on file. If you’ve moved and don't receive an audit
    notice, the NRS can proceed with legal action in your absence.
    Penalty Accumulation: In the case of business cessation, if you don't
    officially notify the NRS that you've closed, they will assume you are still
    earning income and continue to charge late filing penalties.
    Bank Account Freezes: With the 2026 integration of NIN-TIN-BVN,
    discrepancies in your data across different agencies can trigger automated
    "Red Flags," leading to temporary restrictions on your bank accounts.
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