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Late Tax Interest Falls as Nigeria Links Charges to Market Rates

Original: Late Tax Interest Falls as FG Links Charges to Market Rates

Nigeria's Federal Government has reduced the interest charged on late tax payments by tying it to prevailing market rates, a move expected to lower penalties for taxpayers who miss deadlines. The change has drawn attention in business and property circles, where observers see it as part of broader efforts to make the tax system fairer and encourage compliance among individuals and companies.

Why now: The government's decision to link late-payment interest to market rates is new tax policy news affecting taxpayers nationwide.

Federal Government of Nigeria

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