Tax Reform Act takes effect, workers earning less than N800,000 annually, exempted from taxation

Tax Reform Act takes effect, workers earning less than N800,000 annually, exempted from taxation

FIRS now NRS, to collect revenues hitherto handled by Nigeria Customs Service, NUPRC, NPA, NIMASA President Bola Ahmed Tinubu, on Thursday June 26, signed the tax reform bills into law, exempting workers earning below N800,000 annually from taxation.

Fresh Angle International, can report that the Act, which changed the nomenclature of Federal Inland Revenue Service, FIRS, to Nigeria Revenue Service, NRS, gives the NRS mandate to collect revenues previously handled by agencies such as the Nigeria Customs Service, NUPRC, NPA, and NIMASA.…READ ORIGINAL & FULL CONTENT HERE