Nigeria’s Federal Internal Revenue Service said it plans to collect 25.2 trillion naira ($16.6 billion) in federal taxes this year, after surpassing last year’s target.
- Agency collected 21.7 trillion naira last year, compared with target of 19.4 trillion naira
- Improved on all revenue metrics except oil, where target was impacted by lower output
- Overall tax increase for 2024 was 76% from prior year
- Number of financial institutions filing and paying taxes increased by 84%
- NOTE: Jan. 18,
Nigeria Seeks to Implement Overhaul of Taxes by Start of July - NOTE: Nov. 8,
Nigeria Sees Revenues Doubling Over Three Years on Tax ...
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.