The Federal Government has announced that all taxable Nigerians will be required to obtain and use a Tax Identification Number as part of new tax administration measures scheduled to take effect from January 1, 2027, Peak Newspaper reports.
Under the new framework introduced through the Nigeria Tax Administration Act, individuals earning taxable income will be mandated to provide a Tax ID for certain financial and official transactions, including the operation of bank accounts.
Authorities clarified that the policy applies specifically to taxable persons and businesses, while students and dependents without taxable income are exempted.
The Federal Inland Revenue Service also disclosed that the National Identification Number will automatically serve as the Tax ID for individuals, while Corporate Affairs Commission registration numbers will function as Tax IDs for registered companies, eliminating the need for separate tax registration processes.
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, said the initiative is aimed at improving tax compliance, blocking leakages and expanding the nation’s revenue base under the ongoing tax reform agenda of the Federal Government.
