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FIRS Introduces E-Invoice, Simplifies Tax Regimes for Informal Businesses

In a bid to enhance tax administration and compliance, the Federal Inland Revenue Service (FIRS) is set to introduce an electronic invoicing system. This innovative solution aims to facilitate real-time transaction validation and storage for business-to-business, business-to-consumer, and business-to-government transactions. According to FIRS Executive Chairman, Dr. Zacchaeus Adedeji, this initiative aims to create a more...

June 2024 Tax Deadlines and Key Obligations

As we approach the end of the first half of 2024, it’s crucial to stay on top of your tax obligations to ensure compliance and avoid penalties. Here are the key due dates for this month: 10th of June 2024: Due date for remitting Pay As You Earn (PAYE). 21st of June 2024: Due date...

The Federal Inland Revenue Service (FIRS) has implemented a new Self-Registration Module on its Tax Administration Solution platform, TaxPro-Max. You may read our earlier publication on the migration from e-TP Plat to TaxPro Max Platform here. This new development aims to streamline the registration process for taxpayers, offering convenience and efficiency. Key Updates: Simplified Registration:...