New Tax Law Grants NRS Authority to Levy Up to N10m Fines
New Tax Law in Nigeria: Stricter Penalties for Non-Compliance Nigeria has introduced a significant update to its tax administration system with the enactment of the Nigeria Tax Administration Act, 2025. This new law empowers the Federal Inland Revenue Service (FIRS), now rebranded as the Nigeria Revenue Service (NRS), to impose substantial fines and penalties on…