Common Nigerian Scams Common Nigerian Scams: Awareness and Prevention The phenomenon of Nigerian scams, widely…
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Common Nigerian Scams: Awareness and Prevention
Common Nigerian Scams Common Nigerian Scams: Awareness and Prevention The phenomenon of Nigerian scams, widely recognized under the legal nomenclature of “419 fraud,” represents a sophisticated, multi-layered criminal industry that has evolved from crude postal letters into a global digital operation. Named after Section 419 of the Nigerian Criminal Code, these schemes exploit the fundamental pillars of human psychology: urgency, fear, greed, and trust. In 2023 alone, the financial impact was staggering, with internet users […]
Understanding Chargeable Gains in Nigerian Tax Law
A Comprehensive Guide to Capital Taxation under the Nigeria Tax Act 2025 Imagine this: You purchase a rare, vintage comic book for ₦5,000. A few years later, a collector offers you ₦50,000 for it, and you sell. The ₦45,000 profit you made is a “gain”. In the world of tax, certain gains like this are subject to a specific tax, separate from the tax you might pay on your salary or business income. A […]
Glossary of Key Terms: Nigeria Tax Act 2025
Glossary of Key Terms: Nigeria Tax Act 2025 Demystifying Nigerian Tax Law for Beginners and Professionals. 1.0 Introduction: Making Tax Terms Simple Welcome to this guide on Nigerian tax terminology. Understanding tax law can often feel like learning a new language, filled with specialized words and complex phrases. This document is a simple glossary designed to help beginners, students, and curious learners understand the essential vocabulary found in the Nigeria Tax Act 2025. Our goal […]
Compliance Report: A Practical Guide to Value Added Tax (VAT)
Under the Nigeria Tax Act 2025 1.0 Introduction: Understanding the VAT Framework in the 2025 Act The Nigeria Tax Act 2025 represents a significant and comprehensive update to the nation’s fiscal landscape. For corporate tax departments, mastering the nuances of the new Value Added Tax (VAT) regime is of strategic importance. A thorough understanding is essential to ensure full compliance, effectively manage tax costs, and mitigate the risk of penalties. The fundamental principles of […]
Nigeria’s 2025 Tax Law: Know Your Rights
Nigeria’s 2025 Tax Revolution A Comprehensive Guide to Your Pocket, Your Business, and Your Rights On June 26, 2025, President Bola Ahmed Tinubu signed four landmark laws, the Nigeria Tax Act, the Tax Administration Act, the Revenue Service Act, and the Joint Revenue Board Act, collectively known as the 2025 Tax Reform Acts. This “once-in-a-generation” overhaul officially begins implementation on January 1, 2026. 1. Personal Income Tax: Relief for the Low Earners The most significant […]