{"id":1820,"date":"2026-06-15T07:43:08","date_gmt":"2026-06-15T06:43:08","guid":{"rendered":"https:\/\/thecouragetimes.com\/inqxs\/?p=1820"},"modified":"2026-06-15T07:43:11","modified_gmt":"2026-06-15T06:43:11","slug":"abia-life-nd-project-educates-staff-stakeholders-on-nigeria-tax-act-and-administration","status":"publish","type":"post","link":"https:\/\/thecouragetimes.com\/inqxs\/2026\/06\/15\/abia-life-nd-project-educates-staff-stakeholders-on-nigeria-tax-act-and-administration\/","title":{"rendered":"Abia LIFE-ND Project Educates Staff, Stakeholders, on Nigeria Tax Act and Administration"},"content":{"rendered":"\n

The management of Abia Livelihood Improvement Family Enterprises, Niger Delta LIFE-ND Project, on May 21, 2026, in Aba\u00a0 organized a workshop to build staff capacity on the current Nigeria Tax Act, NTA , 2025, reform.<\/em><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Uchenna Rowland Onyeizu, Ph.D, CEnv, State Project Coordinator<\/p>\n\n\n\n

Addressing the participants made up of staff, Local Government Area Desk Officers and major stakeholders, the LIFE-ND Project Coordinator, Uchenna Rowland Onyeizu, Ph.D, CEnv, said the training should be taken seriously as the reform cuts across all business transactions, corporate and Small and Medium-sized Enterprises, SMEs.<\/p>\n\n\n\n

He enjoined participants to understudy areas where the law affects their businesses to avoid punitive consequences.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Mr Moses Chukwudi Ukachukwu, the resource person<\/p>\n\n\n\n

Addressing journalists, the resource person, Mr Moses Chukwudi Ukachukwu, FCA, said the participants were made to understand value-added tax, their roles as government \u201ctax collectors\u201d in withholding tax, company and personal income taxes and remitting same to relevant authorities.<\/p>\n\n\n\n

Explaining the role of SMEs in VAT, he said,<\/p>\n\n\n\n

\u201cThey were educated on what to do concerning filing of their VATs, whether their products are VATable or not, the law does not exclude them from filing \u2013 only that if the products and services are not Vatable, they\u2019ll be filing new VAT.\u201d<\/p>\n\n\n\n

\u201cThere\u2019s need to comply with the contents of the tax law because the penalties for non-compliance are enormous. Where you may not have any tax to pay based on your services, based that your service is not VATable or your turnover is less than the thresholds, penalties may wipe your resources and push you out of business\u201d.<\/p>\n\n\n\n

He cautioned against non-compliance of VAT remittance, as penalties for not filing of VAT is N<\/s>100, 000 for first the month of default, and N<\/s>50, 000 interest until compliance, adding that withholding and not remitting deductions are subject to interest, based on the Central Bank rate.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Alozie Daniel, ACA, State Project Accountant<\/p>\n\n\n\n

Commenting, the State Project Accountant, Alozie Daniel, ACA, said the workshop was to educate the staff and all stakeholders on the application of the tax reform Act and Administration, 2025, arming them with the right information that would assist their businesses to grow sustainably.<\/p>\n\n\n\n

<\/p>\n<\/body>","protected":false},"excerpt":{"rendered":"

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