Nigeria Revenue Service Archives

FG Empowers Revenue Service to Borrow Under New Tax Act

3 mins read

Business

FG Empowers Revenue Service to Borrow Under New Tax Act

July 28, 2025July 28, 2025 Damilola0Tagged FG borrowing powers, Nigeria Revenue Service, NRS autonomy, revenue collection, Tax Act 2025, tax reform Nigeria, Tinubu tax law

In a landmark fiscal reform, the Federal Government of Nigeria has officially empowered the newly established Nigeria Revenue Service (NRS) with borrowing rights and financial autonomy under the recently enacted Tax Administration Act, 2025. The new law, signed by President Bola Tinubu last month, is set to take effect from January 2026. This development marks […]

IMF Hails Significant Progress by FIRS in Revenue Reforms

3 mins read

Business

IMF Hails Significant Progress by FIRS in Revenue Reforms

July 10, 2025July 10, 2025 Damilola0Tagged digital tax system Nigeria, domestic revenue mobilisation Nigeria., FIRS reforms 2025, IMF Nigeria tax administration, IMF supports FIRS, Nigeria Revenue Service, Nigeria tax-to-GDP ratio, President Tinubu tax reforms, TADAT evaluation, Zacch Adedeji

The Federal Inland Revenue Service (FIRS) has received high praise from the International Monetary Fund (IMF) for its ongoing reforms and measurable progress in modernising tax administration and boosting revenue collection in Nigeria. The commendation came during the IMF-supported Headquarters Mission visit held on Wednesday at the FIRS headquarters in Abuja. Senior Economist at the […]