Nigeria's FCT-IRS establishes unit to manage taxes for high-income individuals, aiming to boost revenue.

The Federal Capital Territory Internal Revenue Service (FCT-IRS) in Nigeria has set up a new unit to manage taxes for High Net Worth Individuals (HNIs) with annual incomes of N25 million or more. The unit aims to enhance revenue generation to support infrastructure development. Over 10,000 HNIs have been identified, and the IRS has urged them to comply voluntarily with tax obligations, warning of legal action for non-compliance.

4 months ago
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