• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, June 13, 2026
Leadership Newspapers
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
Hausa Edition
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

No Tax ID, No Contracts, New Act Stipulates

... Contractors, foreign suppliers to face new compliance rules

LEADERSHIP News by LEADERSHIP News
9 months ago
in Business
Importance Of Taxation
Share on WhatsAppShare on FacebookShare on XTelegram

The newly gazetted Nigeria Tax Act, 2025, has introduced fresh compliance requirements that tighten the fiscal net on contractors, government agencies, and foreign suppliers seeking business in the country.
Under the law, Ministries, Departments and Agencies (MDAs) must ensure that all contractors and suppliers present a valid Tax Identification Number (Tax ID) before entering into or executing contracts.
While the Act does not explicitly require contractors to present a valid Tax Identification Number (Tax ID) before entering into or executing contracts, it mandates its inclusion in the remittance process, which necessitates the MDAs having this information.

Specifically, for Value Added Tax (VAT) collected or withheld by government bodies, Section 155(3) of the Act stipulates: “The remission of the VAT under subsections (1) and (2) shall be accompanied with a schedule showing the name, Tax ID and address of the contractor or supplier, invoice number, gross amount of invoice, amount of the VAT and the month to which the return relates”.

This provision requires MDAs to have the Tax ID of contractors and suppliers for proper VAT remittance. MDAs and Federal, State, and Local Governments are mandated to “collect or withhold VAT on taxable supplies made to them and remit it to the Service”.

In addition, the Act introduces a new compliance obligation for foreign suppliers. Section 151(1) explicitly states, “A non-resident person who makes taxable supplies to Nigeria shall register for tax and include VAT on its invoice for all taxable supplies”

The law further empowers the Nigeria Revenue Service (NRS) established under the Nigeria Revenue Service (Establishment) Act, 2025, to enforce compliance. This enforcement can occur through direct collection or by requiring Nigerian counterparties to withhold the tax.

RELATED NEWS

Wema Bank’s ‘5 For 5 Rewards’ Delivers ₦17.96m To 273 Customers

UK Announces New £15m Growth Programme To Unlock Investment In Nigeria

World Bank Cuts Nigeria’s 2026 Growth Forecast to 4.1% Despite Crude Rally

As stated in Section 151(2), “Where a non-resident person is making taxable supplies from outside Nigeria to persons in Nigeria, the taxable person to whom the supply is made in Nigeria shall withhold the VAT due on the supply and remit it to the Service”. Furthermore, Section 151(3) adds that “The Service may, by notice, appoint any person, including a non-resident supplier of taxable supplies, to collect the VAT and remit it to the Service”.

The NRS, established as part of the wider tax reforms, is expected to publish guidelines in the coming weeks on the registration process for foreign suppliers and compliance timelines for MDAs.
Section 151(7) of the Act grants this power, stating: “The Service may issue guidelines for the purpose of giving effect to the provisions of this section, including the form, time and procedure for filing returns and payment by non-resident suppliers appointed by the Service under subsection (3)”.

We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

Nigerians can invest ₦2.5million on premium domains and earn about ₦17-25Million. Earnings in USD. Rather than wonder, click here to find out how it works
LEADERSHIP News

LEADERSHIP News

OTHER NEWS UPDATES

Wema Bank Appoints Agu As Non-executive Director
Business

Wema Bank’s ‘5 For 5 Rewards’ Delivers ₦17.96m To 273 Customers

36 minutes ago
UK Announces New £15m Growth Programme To Unlock Investment In Nigeria
Business

UK Announces New £15m Growth Programme To Unlock Investment In Nigeria

5 hours ago
Did World Bank Misread Development?
Business

World Bank Cuts Nigeria’s 2026 Growth Forecast to 4.1% Despite Crude Rally

5 hours ago
Next Post
Group Lauds Axxela-NNPC For Gas Infrastructure Project

Axxela Integrated Power Inks Purchase Agreement With Evans Industries

Advertisement

LATEST UPDATE

Wema Bank’s ‘5 For 5 Rewards’ Delivers ₦17.96m To 273 Customers

36 minutes ago

BREAKING: Kidnapped Ex-Military Spokesman General Abubakar Dies In Captivity

2 hours ago

Girl-child Education: Zamfara First Lady Vows To Sustain Advocacy

2 hours ago

Olawepo-Hashim Condemns Alleged Attack on Sowore, Democracy Day Protesters

2 hours ago

Akwa Ibom Education Overhaul Will Tackle Out-Of-School Children, Says Eno

2 hours ago
Load More
Advertisement
Facebook Twitter Instagram Youtube Whatsapp

© 2026 LEADERSHIP Media Group - All Rights Reserved | Hausa | Online Casino.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2026 LEADERSHIP Media Group - All Rights Reserved | Hausa | Online Casino.