The Federal Inland Revenue Service (FIRS) has engaged stakeholder to focus on the practical implementation of the 2024 Withholding Tax (WHT) Regulations.
The engagement attracted a cross-section of professionals, including tax consultants, representatives of professional bodies, and compliance experts, to discuss the nuances of the recently revised WHT framework.
A statement from the FIRS said the forum provided an avenue for participants to directly interface with the FIRS, seek clarification on technical provisions of the new regulations, and propose ideas to improve practical implementation.
According to the FIRS, the WHT reform is a significant milestone in Nigeria’s tax modernization efforts, aimed at improving clarity, streamlining compliance, and aligning tax practices with international standards.