Tag: FIRS
-
Annual Returns Filing vs Tax Returns Filing (FIRS)
For business owners in Nigeria, maintaining compliance involves fulfilling distinct obligations to different government bodies. Many entrepreneurs mistakenly assume CAC annual returns filing is the same as tax returns filing. These are two separate legal obligations handled by different regulators, and failing to comply with either can put your business at risk. Key Differences Between…
-
How to Navigate FIRS Guidelines for Crypto Taxation in Nigeria, 2025
Nigeria’s crypto landscape has evolved rapidly, with the Federal Inland Revenue Service (FIRS) implementing stringent guidelines to formalize crypto taxation in Nigeria under the Investment and Securities Act (ISA) 2025. As NFT marketplaces flourish and local artists monetize digital art, understanding these rules is critical to avoid penalties and maximize profitability. This article breaks down…