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TAX & GOVERNMENT FINANCE

This section explains how taxation works in Nigeria. Learn how to file your taxes, understand FIRS, NRS and state tax systems, and stay compliant. Ask questions and get clear answers to avoid costly mistakes.

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Fokona Latest Questions

NWAOHA EMMANUEL CHINONYE
NWAOHA EMMANUEL CHINONYE
Asked: March 31, 2026In: TAX & GOVERNMENT FINANCE

How Do Teachers in Nigeria File Personal Income Tax When Their Salary Is Paid Inconsistently Across the Year?

As a teacher, you receive salary for 9 months in a year. For April and December, you are paid half but not get paid for August at all. How can you file your annual tax returns based on these information? ...Read more

inconsistent salary nigeriapit filing nigeriateacher tax nigeria
2
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kolawole owolabi
kolawole owolabi
Asked: April 26, 2026In: TAX & GOVERNMENT FINANCE

Do companies in Nigeria pay 30% Company Income Tax on money market mutual fund investments through a corporate brokerage account?

Good evening Mr ferry please I have a question bothering me I will need your advice on this.. do I pay any other tax if I use my cooperate brokerage account to invest in money market mutual fund …I heard ...Read more

tax
1
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  • 1 1 Answer
Ibraheem Yakub
Ibraheem Yakub
Asked: March 31, 2026In: TAX & GOVERNMENT FINANCE

Do I Need to File Personal Income Tax in Nigeria If My Earnings Are Not Generated Within Nigeria?

Hello! Pls concerning the tax filing, assuming I am not in Nigeria and my earnings is not coming through Nigeria but my Nigeria bank account is only uses for savings and other transactions but no income coming through Nigeria. Do ...Read more

firs rulesforeign income nigeriapit filing nigeria
3
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Michael Godlike
Michael Godlike
Asked: April 3, 2026In: TAX & GOVERNMENT FINANCE

What Is the Difference Between TIN and Tax Identification Number in Nigeria Tax System?

Please what’s the difference between TIN and TAX-ID, and which one is required when filing taxes.

firs tax systemtaxtax id nigeriatin
1
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  • 1 1 Answer
Rephaiah
Rephaiah
Asked: June 2, 2026In: TAX & GOVERNMENT FINANCE

How Are Cryptocurrency Profits Taxed in Nigeria Under Current Tax Laws?

Please I’ll like a detailed explanation on how cryptocurrency are taxed here in Nigeria, for instance 1. Interest from trading crypto 2. Income from mining app 3. And other aspects

cryptocurrency taxationcurrent tax lawsfirs
1
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  • 1 1 Answer
Anonymous
Anonymous
Asked: March 28, 2026In: TAX & GOVERNMENT FINANCE

How Do I File Personal Income Tax in Nigeria Without an Agent Step by Step for Beginners?

How do I file personal income tax in Nigeria without an agent? Can you show me step by step like you’re talking to a primary school pupil? If I don’t work in Nigeria but operate a bank account in Nigeria, ...Read more

firspersonal income tax nigeriatax
2
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Anonymous
Anonymous
Asked: March 31, 2026In: TAX & GOVERNMENT FINANCE

How Can a Commercial Driver in Nigeria File Personal Income Tax on a Hire Purchase Vehicle?

How can I file my personal income tax as a driver with a hire purchase vehicle. Am I going to pay tax on the owner’s money

personal income tax nigeriapit filing nigeria
1
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UGWU GODWIN IKECHUKWU
UGWU GODWIN IKECHUKWU
Asked: April 11, 2026In: TAX & GOVERNMENT FINANCE

How Can I File My Annual Personal Income Tax Correctly in Rivers State, Nigeria?

Tax in Rivers state- How can I file my annual personal income tax without making a mistake?

business & wealth creationpersonal income taxtax
1
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  • 1 1 Answer
Anonymous
Anonymous
Asked: October 1, 2026In: TAX & GOVERNMENT FINANCE

How Much Will ₦5 Million Grow to in a Money Market Mutual Fund Over 17 Years?

Calculate my total investment for 17 year MMMF if I invest #5 deposit

17-year investmentcompound interest
1
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Fadipe Babatunde Ariyo
Fadipe Babatunde Ariyo
Asked: March 31, 2026In: TAX & GOVERNMENT FINANCE

How can I file Personal Income Tax (PIT) in Lagos State using a smartphone via LIRS portal in Nigeria?

Personal Income Tax (PIT) Kindly elaborate step by step how to file PIT in Lagos state (lirs) using Smart phone. I have Tax ID (13 digits) and Payer ID (N-**) Thank you.

lagos tax filingpersonal income taxtax
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