Tag: Electronic Money Transfer Levy (EMTL)
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How the 2025 Tax Reform Changes Bank Electronic Transfer Levies
One of the most visible, day-to-day impacts of the Nigeria Tax Act 2025 is the reclassification and clarification of charges on electronic bank transfers. As circulated by most financial institutions, the reform does not introduce a new charge on transfers; instead, it redefines, standardizes, and reallocates responsibility for an existing levy with effect from 1…