The Lead Story
Nigeria’s passport for invoices just got stamped. The Federal Inland Revenue Service has been approved as the country’s official Peppol Authority, giving Nigeria’s Tax Identification Number (TIN) international recognition for the first time, Punch reports.
The Big Picture
Think of Peppol as a global fast-lane for e-invoices. By joining the network, Nigerian businesses can now exchange electronic documents with counterparts in more than 40 economies, no paper, no headaches, and fewer compliance hiccups.
The Details
• A single, globally registered TIN means exporters no longer juggle state-by-state registrations. Learn more about Nigerian tax reforms
• Secure Peppol rails promise faster payments and lower transaction costs.
• FIRS says the move will “boost investor confidence” by cutting red tape at the border.
Why It Matters / What They’re Saying
The reaction was swift: trade groups are calling it a “game-changer” for SME exporters, while tax advisers note that cross-border audits just became a lot easier. With a unified ID system, both federal and state tax authorities can see the same data, closing gaps that previously bled revenue.
Around the Tax World
• Progressive CGT on the horizon. The Presidential Committee on Fiscal Policy unveiled income-band rates and new reliefs to “reduce investment risks,” according to NAN.
• Market still parsing a 30% CGT hit. At an NGX Group town hall, brokers asked how the Capital Gains Tax Act 2024’s flat 30% rate on share sales will mesh with the newer banded proposal (Business Post).
• FIRS smashes its own record. Tax haul hit ₦20.62 trn from January, August, a 40.8% jump that already tops the 2025 target, thanks to tech-driven audits, The Nation notes.
• Rule-of-law watch. Lawyers warn the new Tax Act 2025 could stir double-taxation fights if oversight isn’t tightened (Independent).
By the Numbers
Prime Figure: ₦20.62 trillion, FIRS’ revenue in the first eight months of 2025, already 40.8% above last year’s mark.
Looking Ahead
All eyes now turn to the rollout timeline for Peppol onboarding and the Finance Ministry’s final word on which version of Capital Gains Tax, 30% flat or progressive bands, lands in the 2026 budget.