Financial Q&A: Your Questions Answered
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What documents are required for TIN registration for older companies?
For companies registered before 2020 (when TINs were not automatically printed on certificates), you generally need to "revalidate" or "activate" your record with the Nigeria Revenue Service (NRS). While the process is now primarily online via TaxPro Max, older companies often need to upload or present the following documents to sync their legacy records with the new digital database.
How do I get a Tax Identification Number (TIN)?
In 2026, the process for getting a Tax Identification Number (TIN) has been fully digitized and harmonized. Under the Nigeria Tax Administration Act 2025, you likely already have a TIN without knowing it, as the government has linked tax identities to existing national databases. Here is how to get or retrieve your TIN based on your status:
What records must I keep for PAYE compliance?
Under the Nigeria Tax Administration Act 2025, record-keeping has shifted from "recommended" to "mandatory and auditable." For 2026, the Nigeria Revenue Service (NRS) and State Internal Revenue Services (SIRS) expect digital-ready documentation to support every deduction you make. As an employer, you must maintain these records for at least six (6) years.
When is PAYE tax due, and what are the penalties for Late remittance?
Under the Nigeria Tax Administration Act 2025, the timeline for PAYE (Pay-As-You-Earn) has stayed largely the same, but the "price of failure" has skyrocketed. As an employer in 2026, you are essentially a trustee for the government. If you deduct tax from your employees' salaries and don't remit it on time, the law now treats it as a serious breach of trust.
Can business expenses be claimed against company income tax?
Yes, business expenses can be claimed against your Company Income Tax (CIT) in 2026, but only if they meet specific legal criteria. Under the Nigeria Tax Act 2025, the government has tightened the rules on what qualifies to ensure businesses don't "inflate" costs to avoid tax.