Would you like to receive notifications on latest updates of the following headlines?

FG proposes NIN, tax for foreigners in Nigeria

POSTED ON September 26, 2024 •   Breaking News      BY Benedicta Bassey
President Bola Ahmed Tinubu/ Photo credit: Premiumtimes

The Federal Executive Council is seeking an amendment to the National Identity Management Commission Act No. 23, 2007 to give room for foreigners in Nigeria the privilege to have the National Identification Number.

Also, the council proposed the Economy Stabilisation Bill, allowing foreigners living and working in Nigeria to pay tax.

The two proposed legislations are aimed to “expand the scope of persons  who can be registered to include foreign individuals with the taxable presence or taxable source of income in Nigeria, and make provisions for the mandatory use of National Identification Number for transactions which are relevant for tax administration, and for related matters.”

The government has also proposed a new paragraph to Section 16, which reads, “Any person, whether or not he is a citizen of Nigeria, who is deemed to be resident or otherwise is subject to tax in Nigeria under any legislation in force in Nigeria.”

Once passed into law, expatriates and income-earning immigrants would be taxed.

The Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, revealed this during a press briefing at the Aso Rock Villa, Abuja.

According to Onanuga, “If the National Assembly passes that bill, it provides that everybody living in Nigeria, including foreigners, will now be registered and given NIN.

“Once you are doing some work here and earning income, you will be registered and given a NIN so that you can be taxed.

“Your NIN will give you your tax identity, and you can also be taxed and come under our tax structure. The law that set up the NIMC initially precluded foreigners from being registered.”

READ ALSO
FG signals tough stance on underdeveloped Oilfields, calls for strategic IOC investments
BY Abiodun Saheed Omodara April 2, 2025 0

The Federal Government expressed its worries on Tuesday about the growing number of idle and underde...

READ ALSO
Fuel prices expect to fall below N750 by Year-End - NIPSS
BY Abiodun Saheed Omodara April 2, 2025 0

The National Institute for Policy and Strategic Studies (NIPSS) has said that with Dangote Refinery...

READ ALSO
CPPE raises concerns over proposed ban on solar panel imports amid Nigeria's energy crisis
BY Abiodun Saheed Omodara April 2, 2025 0

The Centre for the Promotion of Private Enterprise (CPPE) has raised alarms regarding the government...

READ ALSO
FG highlights need for data sharing, collaboration to tackle border crimes
BY Abiodun Saheed Omodara April 1, 2025 0

Nigeria has called for cooperation with Sahel and West African nations regarding information and dat...

READ ALSO
Fuel price crisis looms as Naira-for-Crude arrangement remains unresolved
BY Abiodun Saheed Omodara March 31, 2025 0

There is growing concern in the downstream segment of the oil and gas industry as operators anticipa...

READ ALSO
HEDA seeks Judicial declaration against Shell's Oil license transfer amidst legal concerns
BY Abiodun Saheed Omodara March 31, 2025 0

LAGOS, Nigeria - The Incorporated Trustees of the Human Environmental Development Agenda (HEDA Resou...

READ ALSO
Nigeria, Canada forge new Aviation ties with bilateral Air services agreement
BY Abiodun Saheed Omodara March 26, 2025 0

ABUJA, Nigeria - In a notable achievement for the aviation sector, the Minister of Aviation and Aero...

READ ALSO
Collaboration for Transparency: BPP, ICPC sign MOU to combat procurement fraud
BY Abiodun Saheed Omodara March 26, 2025 0

The Director-General of the Bureau of Public Procurement, Dr. Adebowale  Adedokun, has und...

OUR CHANNELS:

FG signals tough stance on underdeveloped Oilfields, calls for strategic IOC investments
BY Abiodun Saheed Omodara April 3, 2025 0

The Federal Government expressed its worries on Tuesday about the growing number of idle and underde...


OpenAI valuation hits $300 billion after SoftBank-led fund
BY Abiodun Saheed Omodara April 3, 2025 0

The Japanese telecommunications company, alongside a group of investors, has recently announced yet...


Fuel prices expect to fall below N750 by Year-End - NIPSS
BY Abiodun Saheed Omodara April 3, 2025 0

The National Institute for Policy and Strategic Studies (NIPSS) has said that with Dangote Refinery...


Nigeria imposes N20m fine, 10-Year Jail Term for Ponzi scheme offenders
BY Abiodun Saheed Omodara April 2, 2025 0

The Securities and Exchange Commission (SEC) has stated that promoters and operators of Ponzi scheme...


South Korea launches second phase of educational initiative in Ekiti smart school
BY Abiodun Saheed Omodara April 2, 2025 0

EKITI, Nigeria - The South Korean government is poised to initiate the second phase of its education...


NFF denies resignation rumors surrounding Super Eagles coach
BY Abiodun Saheed Omodara April 3, 2025 0

The Nigeria Football Federation (NFF) has refuted claims that Super Eagles coach Eric Chelle is cons...


CPPE raises concerns over proposed ban on solar panel imports amid Nigeria's energy crisis
BY Abiodun Saheed Omodara April 2, 2025 0

The Centre for the Promotion of Private Enterprise (CPPE) has raised alarms regarding the government...


Kano praises Emir Sanusi II’s leadership qualities in reinstatement ceremony
BY Abiodun Saheed Omodara April 3, 2025 0

KANO, Nigeria - Governor Abba Kabir Yusuf has stated that his government reinstated Khalifa Muhammad...


CBN's strategic policies lead to significant increase in Nigeria's Net FX reserves
BY Abiodun Saheed Omodara April 3, 2025 0

Nigeria's net foreign exchange reserves (NFER) stood at $23.11 billion at the conclusion of the prev...


Adeyeye urges capital punishment for drug traffickers amidst N1trn confiscation
BY Abiodun Saheed Omodara April 3, 2025 0

The ongoing fight against counterfeit and substandard medical products by the National Agency for Fo...


More Articles

Load more...

Menu