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The Federal Government has issued new presumptive tax regulations designed to simplify compliance for millions of micro, small, and medium enterprises (MSMEs). Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced the framework on Wednesday, framing it as a “structured pathway” for informal businesses to enter the formal economy. The rules replace…
The Federal Government has prohibited the use of roadblocks for tax collection across Nigeria as part of a sweeping reform of informal sector taxation, introducing presumptive tax regulations designed to bring millions of small businesses into the tax net while exempting the poorest enterprises. The Joint Revenue Board, in collaboration with the Federal Ministry…
