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Nigeria’s 2026 tax reforms strategically target inclusive economic growth by shifting the burden from the informal sector and low-income earners to incentivize formalization and attract investment. The core overhaul eliminates a complex web of burdensome taxes, slashes the corporate rate to 25%, and provides zero CIT for small businesses, transforming formalization from a disadvantage into a growth opportunity. This recognizes the informal sector as the true engine of broad-based prosperity, where its modest growth benefits all Nigerians more than large corporateContinue Reading

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By Aluta News Feb. 14, 2024 Singapore authorities are  to refund wrongly collected goods and services tax (GST) worth 7.5 million Singapore dollars (5.5 million U.S. dollars) to taxpayers from March. The ministry of finance said this in a statement issued on Wednesday. It said the ministry found out afterContinue Reading

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By Aluta News Jan. 22, 2023 The Lagos State Internal Revenue Service (LIRS) says Jan. 31 remains the deadline for filing of annual tax returns by employers of labour. LIRS Chairman, Mr Ayodele Subair, made this known in a statement issued by it Head of Corporate Communications, Mrs Monsurat AmasaContinue Reading

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By Aluta News Dec. 20, 2022 The National Bureau of Statistics (NBS), says the aggregate Company Income Tax (CIT) was reported at N810.19 billion for Q3 2022. This is according to the NBS Company Income Tax(CIT) Q3 2022 Report released in Abuja. According to the report, this shows a growthContinue Reading