Taxidy

Taxidy helps individuals and businesses stay tax compliant with less stress and more clarity.

[Taxidy @useTaxidy]

Business owners, not all debt is bad, especially when it comes to your taxes.

Having debts can feel like a burden as a business owner. We truly understand.
You probably took a loan to keep your business running. Maybe it was to buy equipment, restock inventory, or cover operational costs during a slow business season.

And now, on top of repaying that loan, you are worried about how much tax you are going to have to pay.

Well....

The Nigeria Tax Act 2025 has something to say that will be a huge relief for you.

That interest you are paying on your business loan? It's deductible.

According to the Nigeria Tax Act 2025, any interest paid on a loan that was used to generate income for your business can be deducted from your taxable profit.

So if your business made a profit of ₦5M this year and you paid ₦500k in loan interest, you're not paying tax on ₦5M, rather you're paying tax on ₦4.5M.

That's real money you get back in your pocket.

But it's important to know that the loan must be used for genuine business purposes. Using a business loan for personal expenses and then trying to claim the interest as a deduction does not qualify.

Maybe you're wondering how the tax authorities will know? Well... you'll have to prove it, so be honest to avoid issues with the authorities.

Many Nigerian business owners may be overpaying their taxes simply because they do not know what they can legally deduct, and this is one of them.

Save this post. You'll need it.

At Taxidy, we help you identify every legitimate deduction available to your business so you're never paying more than you should.

Follow us for more tax educational posts. Like and share so other business owners can benefit too.

[Taxidy @useTaxidy]

You're already too late!

Well, almost. You have less than 24 hours to do this. ⏰

Tomorrow, July 31st, is the deadline for all large taxpayers in Nigeria to fully comply with the mandatory e-invoicing system on the NRS Merchant Buyer Solution platform.

And if you're just hearing about this today, you need to move. Right now!

Maybe you're still confused about what to do? Here's a simple breakdown.

First, complete your onboarding on the Merchant Buyer Solution platform, then integrate your business systems, complete all required testing, and start transmitting invoices to NRS's e-invoicing platform before midnight tomorrow.

NRS has already started monitoring compliance and has warned that any defaulting company will face penalties under existing tax laws.

This affects every large taxpayer with annual revenue of ₦5 billion or more.

If that's you, and you're not yet compliant, today is your last chance.

Do not wait until tomorrow to start!

Share this immediately with a large taxpayer who needs to see this. The clock is ticking. ⏰

[Taxidy @useTaxidy]

Business owners, think paying salaries is where your responsibility ends? Think again.

Hiring employees comes with more than just paying salaries.

Once you become an employer, you also have PAYE responsibilities. This means you're required to deduct PAYE from your employees' salaries where applicable and remit it to the tax authorities.

Many business owners don't realize this until they're trying to sort out payroll records or respond to questions from the tax authority.

Getting it right from the start helps you stay compliant and avoid unnecessary penalties.

Taxidy helps you understand your tax responsibilities, so you can stay compliant without any confusion.

So…follow us for simple tax tips that help you stay compliant while you focus on growing your business.

[Taxidy @useTaxidy]

You are not tax exempt!

Yes, we are talking to you. The small business owner. Maybe you own a provision store, or you have a small tailor shop, you still have tax obligations.

The tax authorities do not see you as just a "small" business. As long as you're making money in Nigeria you have obligations to fulfill. You still need to file your taxes.

Understanding what the new tax act says about you helps you stay on the right side of the tax law.

That is why Taxidy is here. To help you stay on top of your tax game as a small business owner. You file with us, and we help you understand what you owe and how to stay tax compliant.

Follow, like and share with a business owner who needs to know this.

[Taxidy @useTaxidy]

There's something in the tax act that most business owners have absolutely no idea about.

And every business owner needs to know it.

We spoke about Bola the caterer a while back. Remember her?

Last year was rough for the business. High food inflation made it hard for the business to make sales. Client bookings slowed down significantly, and by the end of the year she was running at a loss.

She definitely was not looking forward to tax season because she assumed she still had to pay the same amount in tax regardless of how badly the year went.

While on her usual trip to her accountant's office, she was told something that changed everything, and she was so relieved to find this out.

Her business was running at a loss, but guess what?

The NTA 2025 made provisions for cases like hers. It states that if your business runs at a loss in any year, that loss does not just disappear. You can carry it forward and use it to reduce your taxable profit in future years.

So if Bola made a loss of ₦2M last year and then makes a profit of ₦5M next year, she does not pay tax on the full ₦5M. She deducts her previous loss first and only pays tax on ₦3M.

One thing to note though. The loss relief only applies to the same line of business. You cannot use losses from your catering business to reduce profits from a completely different business. They must be from the same business.

Knowing this could save you millions in taxes during your recovery years.

At Taxidy, we help you discover gems like this in the tax act that can help relieve some financial burdens for your business. Know what you owe, pay what you owe!

Comment below if this is your first time hearing this.👇

Follow, like and share this with a business owner who needs to know this.

[Taxidy @useTaxidy]

Big business owners, you have until the 31st of July to do this. If not, you’ll be in big trouble with NRS!

They have officially made it compulsory for all large taxpayers to adopt the national e-invoicing system on or before the 31st of July 2026. And they’re not joking about it.

First off, what is this e-invoicing about?

Well, you know before, businesses had to send either paper receipts or PDF invoices to customers. That’s the old fashioned way. But now you have to send them through NRS's official digital platform called the Merchant Buyer Solution. This way NRS can see every transaction your business makes in real time.

This is the new way to ensure tax compliance and avoid all forms of tax fraud.

Now what classifies your business as a large business?

If your business makes ₦5 billion or more in annual revenue, you’re a large taxpayer.

So to stay compliant, your company needs to complete onboarding on the Merchant Buyer Solution platform, integrate your business systems, complete all required testing, and start transmitting invoices to NRS's e-invoicing platform before the 31st of July.

And if you don't comply?

NRS has already started monitoring compliance and has warned that any defaulting company will face regulatory and enforcement actions.

Confused about what this means for your business? Taxidy is here to help you understand your compliance obligations.

July 31 is 10 days away. The clock is ticking.
Please large taxpayers need to do the needful.

Share this with a large business owner or CEO who needs to see this immediately.

[Taxidy @useTaxidy]

This right here will change your mindset towards tax as a business owner.

Read on. 👇

Most business owners in Nigeria hear the word "tax" and immediately think that NRS is coming for everything they made.

But that's not how it works.

Meet Bola, she runs a small catering business in Lagos and last month she made ₦2M in sales. She was excited but a bit worried about how much tax she thought she owed.

But what Bola doesn't know is what the NTA 2025 says concerning her business.

It states that the government doesn't tax businesses on their total sales but rather what is left after your actual business expenses have been deducted.

Basically what's left is referred to as your assessable profit and that is what NRS is actually interested in.

Even before NRS touches Bola's ₦2M she has to deduct these first; cost of ingredients, staff wages, delivery costs, equipment maintenance cost, rent paid for kitchen space, and any other expense she incurred while running her business.

Whatever is left over is what Bola owes tax on.

Bola just exhaled. 😅

I bet you also did too.

That's why keeping accurate records of your business expenses is not just good practice but money saving as well. You’re able to calculate your expenses accurately so you know exactly how much tax you owe as a business owner.

That's why Taxidy was built. Your business deserves to run smoothly without the fear of overpaying or getting in trouble with the tax authorities. And we’re here to help make that a reality.

Follow this page all week. We're breaking down everything the NTA 2025 says about business owners, one post at a time. You don't want to miss it.

Comment, like and share this with a business owner you know who needs to know this. They'll definitely be grateful for it.

[Taxidy @useTaxidy]

This Sunday, choose rest.

You’ve spent the week showing up and keeping up with everything life is throwing at you.
Including trying to understand your taxes.

We know the feeling.

Put it all down today, and rest.

The tax questions will still be there on Monday. And so will Taxidy.👌🏽

Have a restful, peaceful Sunday.

[Taxidy @useTaxidy]

Free accommodation and other sweet goodies from your employer sounds nice right?

Every employee’s dream.🔥

You remember Emeka our project manager?
He just got promoted at work and his company gave him free accommodation.

Emeka was so excited, he called his mum. Posted on his status. He felt like he had finally made it.

Wouldn’t you feel that way too? 😅

Sadly….what nobody told Emeka is that, that accommodation comes with a tax clause which he never saw coming.

Under the Nigeria Tax Act 2025, any accommodation given to you by an employer is classified as a benefit in kind and added to your taxable income.

So that apartment that Emeka’s company gave him? The law says that whatever the rental value of it, a portion of it is added to his taxable income.

But here’s the good news, it cannot exceed 20% of his annual gross income.

Emeka thought he was getting more. He didn’t realize he was also being taxed more.

We’re not saying turn down these perks your employer gives you.
Just know what they’re costing you annually tax wise.

Knowing this helps Emeka plan better and file correctly and would also help you too.

When it’s time to file, you know exactly what you owe so you file correctly and NRS never has a reason to come after him.

That’s exactly what Taxidy is here for. You’re confused about tax, and we’re here to help you understand better.

Know any colleague enjoying free accommodation from their company?
Share this with them.

Follow, like and share for more tax educational tips.

[Taxidy @useTaxidy]

Salary earners, what if I told you there is a silver lining even when things go wrong at work?

Yes.

Remember Emeka, our project manager from yesterday that had to take taxi rides to a client’s site?

Well, on his last day at the site something unexpected happened.

He had a minor accident.

It wasn't life threatening but it was enough to put him out of work for a few days because he was admitted in the hospital.

His employer thankfully covered the cost of his hospital bill which Emeka was grateful for.

But…ever since the new tax act was passed, Emeka has been trying to understand what the law has to say about his income.

While in hospital he started wondering if the money sent to his account by his employer to pay the hospital bill will be taxed.

Maybe you’re like Emeka and you’re asking the same question too.

The answer is no. And here’s why that is.

According to the Nigeria Tax Act 2025, any compensation received for personal injury that was suffered while carrying out work duties is not taxable with the maximum amount being ₦50 million.

That means if Emeka received ₦10 million as compensation for his injury, NRS cannot touch any of it.

However, if the compensation exceeds ₦50 million, only the amount above it becomes taxable.

For example, if Emeka received ₦60 million, only ₦10 million would be subject to tax. Not the complete amount.

Great right?

This is one of those provisions in the New Tax Act that many salary earners don't know about, and not knowing it could mean paying taxes you never owed.

Now you know and so does Emeka.

That's why Taxidy is here for you. We help you understand what is taxable and what isn't so you never have to pay more than you should.

Learnt something new today?

Follow, like and share this with your work colleague who needs to know this.

[Taxidy @useTaxidy]

Salary earners, what if I told you that not all payments from your employer are taxable?

Emeka is a project manager and last week, he was assigned to oversee a project at a client’s site. Unfortunately, the company car was unavailable so he had to sort out his own transport every single day. Out of his own pocket. Every. Single. Day!

By Friday, Emeka had spent a significant amount on transportation alone. He informed his employer about this and the employer promised to pay him back and they did.

Now….Emeka is wondering. Does he have to pay tax on that reimbursement?

The answer is No.

Under the Nigeria Tax Act 2025, every genuine reimbursement of expenses that an employee incurred while performing employment duties is not taxable.
As long as you’re not making any profit from that reimbursement.

So you see that one week of taxi rides Emeka paid for out of his own pocket and got back from his employer? NRS cannot touch it!

But…the key word here is “Genuine”.
You must be able to prove that you didn't make a profit from it.

The moment it starts looking like extra income, the rules change. NRS will start looking at it differently.

Taxidy helps you identify which payments from your employer are taxable and which ones are not so you are never confused about what to declare.

Follow, like and share this with your work colleague that might be stressing about paying taxes they don't owe.👌🏽

[Taxidy @useTaxidy]

Every salary earner needs to read this. Your PAYE might not be as accurate as you think.👇🏽

Meet Emeka. He earns ₦1.2M monthly and every month since January, PAYE has been deducted from his salary. He doesn't ask any questions or even complains. He just assumes it's been done the right way.

But here’s what Emeka and some employers may not fully know yet.

Since January 2026, The Nigeria Tax Act 2025 changed how chargeable income is calculated. And if your employer has not updated their payroll system to reflect this, you may be paying tax on the wrong number.

Your chargeable income is basically what is left after you have removed the necessary allowable deductions from your gross salary.

And that amount is what NRS actually taxes you on.

So before NRS touches Emeka's income, his employer has to factor in these deductions:

His pension contribution, which is 8% of his basic, housing, and transport allowance.

His rent relief, which is 20% of his annual rent, with the maximum amount allowed being ₦500,000.

Any NHIS or NHF contributions if it applies to him.

Only after all of that does Emeka's employer get the correct PAYE to deduct from his salary.

If you’re an employee who did not know this, you may have been overpaying quietly every single month. And if you’re an employer who has not yet updated your payroll system to reflect the new NTA 2025 rules, your employees may be affected too.

Taxidy helps salary earners like Emeka understand their actual chargeable income so they know exactly what should be deducted from their salary and are never shortchanged.

This week we are breaking down everything the NTA 2025 says about salary earners, one post at a time.

You don't want to miss it!!

Follow, like and share this with an employer or colleague that needs to know this.

[Taxidy @useTaxidy]

This could be you in some months' time if you make the right choice.

Picture this.

While everyone around you is panicking about what they owe, scrambling for receipts, and googling "how to file taxes in Nigeria," you'll stay unbothered.

Because Taxidy will tell you exactly what you owe, factor in your deductions, and make sure you're not in any trouble with NRS.

That's the Taxidy difference.

Follow us today. Your future unbothered self will thank you.👌

[Taxidy @useTaxidy]

Comment, like and share with an investor who needs to see this. It might just be a stress reliever for them.👌

[Taxidy @useTaxidy]

If you're an investor or plan to start investing, stop everything you're doing and read this!!

The new tax act has something to say about your investment profits, and you need to know it.

[Taxidy @useTaxidy]

Knowing laws like this could save you from overthinking your investment returns or worse, paying more than you should.

Taxidy helps you understand exactly where you stand so you're never confused about what you owe.

[Taxidy @useTaxidy]

That is exactly what Taxidy is here for. To help you understand what NRS actually wants from you and what they don't, so you don't have to stress about getting into trouble with them.

Follow, like and share with someone who needs to know this.

[Taxidy @useTaxidy]

You've been stressing over the wrong thing. Trust me.

NRS isn't going to tax every income that comes into your bank account.

You just need to know which ones are exempt, so you can stop worrying about it.

[Taxidy @useTaxidy]

Payments such as compensation for physical damage and gifts from family are among the exempt payments under the Nigeria Tax Act 2025.

Knowing the difference between what is taxable and what is not could save you from overpaying or filing incorrectly.