BlessingKolajo Esq

Naija Tax Lawyer| Author| Founder, Sokoka Books.

[BlessingKolajo Esq @blessingkolajo]

A tax liability of #50, 000 can become millions in a few years with the help of penalties and interests. All you need to do is to keep ignoring assessment notices while your penalties and interest continue to rise.

[UNCLE MO ⚖️🎶 @onlyunclemo]

Tonight, I’m teaming up with @richyritchie and tax professional @blessingkolajo to have a real conversation about:

1. What business structure actually makes sense for YOU
2. How to stay on the right side of tax compliance without losing your mind

Set your reminder! Be there!

[BlessingKolajo Esq @blessingkolajo]

I’m hearing gist that people are upgrading to LLC because they think it means zero tax. Who started this rumor, abeg?

[BlessingKolajo Esq @blessingkolajo]

This is what your personal income tax will look like from 2026

[BlessingKolajo Esq @blessingkolajo]

This applies to business owners who do not keep financial records and file tax returns. Implication of this is that, tax authorities can assess you on random figures and subject you to tax liabilities that are not equal to your income bracket.

[BlessingKolajo Esq @blessingkolajo]

Presumptive tax regime refers to a simplified method of taxation where tax liability is based on estimated income or turnover rather than actual income or detailed accounting records.

[BlessingKolajo Esq @blessingkolajo]

In simple terms:

Under a presumptive tax regime, the tax authority “presumes” a certain level of income based on indicators like:
•Business type (e.g., retail, transport, artisans)
•Estimated turnover
•Size of business
•Location or assets used in business

[BlessingKolajo Esq @blessingkolajo]

I’ve come to understand that if the visioneer doesn’t stay plugged in to their why, if they’re not consistently aligned with their purpose, they will lose focus long before the followers ever do.
The answer to the clarity you seek is in the reason you started.

[BlessingKolajo Esq @blessingkolajo]

It’s one thing to have an idea. It’s another to find the courage to execute it. It’s a different blessing entirely to be surrounded by people willing to build with you. But perhaps the hardest part of it all is sustaining continuous clarity—for the vision you’ve birthed to grow

[BlessingKolajo Esq @blessingkolajo]

Income from virtual and digital asset will now be subject to income tax.
This means that assets such as Crypto, NFTs, Blockchain tokens are now subject to income tax .

What’s your take on this provision ?

[BlessingKolajo Esq @blessingkolajo]

(e) Next N25,000,000 at 23%; and
(f) Above N50,000,000 at 25%

Follow @naijataxlawyer for more tax law related information

[BlessingKolajo Esq @blessingkolajo]

Do your calculations and know what you will be paying as income tax from next year. Check the table below to know your tax bracket based on your annual income.

This is called the progressive system of taxation where low income earners are provided with more reliefs.

[BlessingKolajo Esq @blessingkolajo]

The annual tax rate, as
outlined in the Fourth Schedule Section 58
of the law to take effect from Jan 1, 2025, is as follow:
(a) First N800,000 at 0%; total exemption from personal income tax
(b) Next N2,200,000 at 15%;
(c) Next N9,000,000 at 18%;
(d) Next N13,000,000 at 21%;

[BlessingKolajo Esq @blessingkolajo]

@heisrahman I appreciate this

[BlessingKolajo Esq @blessingkolajo]

From bills to laws!
By 1st of January 2026, every provision in it will be the new reality of Nigeria taxpayers. Stay glued to educate yourself on provisions of the tax law, the tax administration law, Nigeria revenue service establishment law and the Joint revenue board est. law

[BlessingKolajo Esq @blessingkolajo]

@Sokokabooks 1. Anatomy of my grandmother hanging on a scythe
Agboola Tariq
2. Laments: Where the things I love, are slowly becoming extinct
3. Boys from my home has a thing for grief

[BlessingKolajo Esq @blessingkolajo]

@your_esq @Sokokabooks Upside down😂

[BlessingKolajo Esq @blessingkolajo]

@Sokokabooks Resist with everything in you😂

[BlessingKolajo Esq @blessingkolajo]

The link to this evening's X space discussion. Follow and set reminder to get notified.

[sokoka @Sokokabooks]

Here's the upcoming space for tomorrow's event. Don't forget to set a reminder https://t.co/vXS4RqyCLY