# NRS

2 articles tagged

Nigeria Lacks Formal Framework to Tax Informal Economy, Says NRS Chairman Adedeji

Dr. Zacch Adedeji, Chairman of the Nigeria Revenue Service (NRS), stated on Wednesday that Nigeria currently does not possess the necessary framework to tax businesses operating within the informal sector, emphasizing that current tax laws are designed for formal economic activities.

Jan 29, 202611 min read

Business

NRS Provides Clarification on 7.5% VAT for Banking Services

The Nigeria Revenue Service has announced that the 7.5% VAT on banking services has been in effect and is applicable only to existing fees, dispelling misconceptions regarding its introduction. This clarification is vital for residents to understand their tax obligations better.

Jan 16, 20267 min read

Banking NRS Nigeria Tax Act