Nigeria lowers late-tax payment interest rate from October 2026
The Federal Government has reduced the interest charged on late tax payments. Punch Nigeria reports that the revised regime will take effect on October 1, 2026, although the supplied material does not specify the new rate or explain how the change will be implemented.
The Federal Government has reduced the interest rate applied to late tax payments, according to Punch Nigeria. The new regime is scheduled to begin on October 1, 2026. The report identifies the effective date but does not state the revised interest rate.
It also does not provide details of the previous rate, the size of the reduction, or whether the change applies to all taxpayers and categories of tax. The measure concerns penalties or charges associated with payments made after the relevant deadline. Further details were not included in the supplied report.
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