New Tax Proposal for Foreign Earners in Nigeria Under NIMC Bill
Bayo Onanuga, Special Adviser to the President on Information and Strategy, announced that foreigners earning income in Nigeria will be required to pay taxes under a proposed amendment to the National Identity Management Commission (NIMC) Bill, 2024.
Onanuga made this statement on Wednesday, September 25, during a briefing with State House reporters in Abuja. He explained that the proposed NIMC bill is part of the Economic Stabilization Bills that were approved by the Federal Executive Council (FEC) earlier this week and will soon be sent to the National Assembly for review.
“This bill aims to amend existing legislation and, if passed by the National Assembly, will require all residents in Nigeria, including foreigners, to register and obtain a tax identity,” Onanuga said.
He added, “Anyone working and earning income in Nigeria will be registered, given a tax identity, and will fall under our tax framework. The previous law had exempted foreigners from registration and taxation.”
Additionally, Onanuga mentioned another bill included in the Economic Stabilization Bills that pertains to the operational regulations of the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Port Authority (NPA).