US & CO. "Chartered-Accountants"

11/08/2026

WHY REGULATORY COMPLIANCE SHOULD NEVER BE REACTIVE Prepare before regulations change. Too many Nigerian businesses only think about compliance when a notice arrives, a penalty is issued, or a regulator shows up. By then, the damage is already done. As a chartered accountancy practice, US & CO. (Char...

10/08/2026

A Practical Guide for Nigerian Businesses After a Tax Compliance Deadline Tax deadlines are easy to notice when they are approaching. The more important question is what happens after the deadline has passed. For Nigerian businesses, this question has become increasingly relevant as tax administrati...

10/08/2026

COMMON TAX ERRORS THAT CAN COST BUSINESSES MONEY Many businesses overpay tax without realizing it. Every year, small and medium businesses in Nigeria lose money — not to NRS, but to avoidable errors in their own records. As a chartered accountancy practice, US & CO. (Chartered Accountants) sees th...

10/08/2026

Crypto Taxation in Nigeria: What the NTAA 2025 Means for Your Trading Activity

Nigeria's tax administration entered a new phase on 1 January 2026 when the Nigeria Tax Act (NTA) 2025 and the Nigeria Tax Administration Act (NTAA) 2025 took full effect. On 3 August 2026, the Nigeria Revenue Service (NRS) followed this with the release of its Guidelines on the Taxation of Virtual Assets, a document that finally sets out, in clear administrative terms, how cryptocurrency and other digital asset transactions are to be taxed across the country.

For the millions of Nigerians who buy, sell, hold, or earn income through digital assets, this is not a minor regulatory update. It is a formal statement that crypto-related income now sits within the same tax net as any other form of income, and that the Nigeria Revenue Service has the legal authority, and the administrative tools, to identify, assess, and collect tax on it.

The Legal Foundation of Crypto Taxation in Nigeria Crypto taxation in Nigeria did not emerge from a single law. It has developed in stages:

07/08/2026

Need TIN for Your Crypto Trading in Nigeria

What happens when tax compliance is ignored?

That question sits at the centre of a conversation many Nigerian crypto traders, whether individuals or registered businesses, have not yet had with themselves. Digital asset trading has grown into a mainstream economic activity in Nigeria, yet a significant number of participants still treat it as existing outside the country's tax framework. It does not. Income earned from crypto trading, staking, and related digital asset activities falls within the scope of Nigeria's tax laws, and a Tax Identification Number (TIN) is the starting point for regularising that position.

Crypto gains. Real tax obligations. This article explains, in factual and educational terms, why a TIN matters for crypto trading in Nigeria, what the law requires, what happens when compliance is ignored, and how a professional accounting and tax consulting firm supports individuals and businesses....

06/08/2026

BUSINESS RISKS EVERY SME SHOULD IDENTIFY EARLY Most Entrepreneurs Monitor Sales but Ignore Risks Many business owners check today's sales before they leave the office. That is important—but sales alone do not determine whether a business will remain sustainable. Every successful business faces ris...

05/08/2026

UNDERSTANDING ETHICAL TAX PLANNING Opinion: Tax Planning Is Different from Tax Avoidance One of the biggest misconceptions among many business owners is that every effort to reduce tax is improper. That is not the case. Ethical tax planning means arranging your business affairs within the provisions...

05/08/2026

The ₦1 Million Mistake That Started with a Missing Receipt A missing receipt may look insignificant today, but it could become an expensive issue tomorrow. Imagine this: A business claims an expense during tax filing. During a review, the supporting receipt cannot be produced. Without adequate doc...

05/08/2026

Accurate Records Today. Stronger Business Tomorrow.

One missing document can lead to unnecessary delays, penalties, or missed business opportunities.

Keeping proper financial records helps you make informed decisions, stay compliant with statutory requirements, and prepare your business for growth.

Don't wait until you need the documents, keep them organized today.

Good record-keeping is good business.

Accurate Records Today. Stronger Business Tomorrow. One missing document can lead to unnecessary delays, penalties, or missed business opportunities. Keeping proper financial records helps you make informed decisions, stay compliant with statutory requirements, and prepare your business for growth.....