Nigerian Startups Have Fresh Tax Headaches In New Strict Regime
- New tax regulations introduced by the Federal Government of Nigeria.
- Regulations require taxes to be deducted at the point of payment.
- Startups must maintain valid Tax Identification Numbers (TIN) to avoid penalties.
The new tax regulations, while intended to streamline compliance, could disproportionately burden Nigerian startups, particularly those already facing financial pressures. The complexity of the new requirements may stifle innovation and growth in the tech ecosystem, raising concerns about the government's approach to fostering a supportive environment for startups.
