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Nigeria's Medium-Term Income Tax and Customs Revenue Strategies

23 August 2022

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Proposed Changes

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Nigeria

Nigeria's Budget Office has published the final draft of the 2023 - 2025 Medium-Term Expenditure Framework (MTEF) & Fiscal Strategy Paper (FSP). The 2023 - 2025 Medium-Term MTEF & FSP covers several topics, including strategies to enhance government revenue through improvements in non-oil tax revenue and customs revenue in the medium term. Tax revenue strategies as listed in the 2023 - 2025 Medium-Term MTEF & FSP include: Leveraging on relevant provisions in the Finance Acts, 2019, 2020 and 2021 to widen the tax net and to optimize collections. Expanding the list of VAT collection agents currently limited to MDAs and...