• Nigerian Government Introduces Tax Payment In Instalments

  • Oct 17 2024
  • Length: 1 min
  • Podcast

Nigerian Government Introduces Tax Payment In Instalments

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  • Summary

  • The Federal Government has proposed introducing a tax payment option that enables individuals to pay their taxes in instalments. It introduced this in the Nigeria Tax Bill 2024, recently submitted to the National Assembly for consideration and approval. Our correspondent obtained a copy of the draft on Sunday. The government also proposed the creation of a special account by the Accountant-General of the Federation for tax refunds. The government instituted a comprehensive set of fresh tax reforms aimed at significantly boosting revenue collection. The four new bills sent to the two chambers of the National Assembly are aimed at giving legislative frameworks to some proposals of the Presidential Fiscal Policy and Tax Reforms Committee headed by Taiwo Oyedele.

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