The details of the new Nigeria Tax Administration Bill (NTAB):

Payment of taxes: 

- Remittance date for all transaction taxes: 

To promote the ease of tax administration and lessen tax compliance burdens.

- Taxpayers may pay tax or royalty assessed in other currencies including petroleum operations) in Naira: 

To lessen pressures on FX demands.

To promote the ease of doing business.

Scope:

- Consolidated administrative provisions for all taxes.

- Harmonised all tax administration issues (registration, filing, payment, dispute resolution, etc.) for all relevant revenue authorities.

Structure: 

- The bill is structured in parts and chapters.

- Provides the roles and objectives of all tax authorities in Nigeria and their relevant jurisdictions.

- Assessment and compliance procedures; and sanctions for non-compliance etc: 

To consolidate the processes for returns filing, assessment,payment, penalties, and enforcement of all tax types.