The Unfair Tax System in Nigeria: A Call to Action
This blog is written not to impress, but to deliver the unfiltered truth to the world. Unless the truth is spoken raw and undiluted, it will never reach the core of the masses or the heart of the nation. After a lie is told, every subsequent truth becomes suspicious. The New Tax Reality: Protecting Your Hard-Earned Money The Federal Inland Revenue Service (FIRS) has announced that the National Identification Number (NIN) will now automatically serve as a Tax Identification Number (TIN) for all Nigerians. To ensure your private, non-taxable transactions are not wrongly flagged or taxed, you must use specific narrations: Family Support: When a relative sends money, use "Gift / Family support." Repayments: When a friend pays you back, use "Refund / Reimbursement." Self-Transfers: When moving money between your own accounts, use "Personal transfer / savings." Borrowing: When receiving a loan, use "Loan received." Business Funding: If investing your ...