Business
TECH Groomers Africa, a digital initiative says the days of manual declarations for tax payments are over, adding that government agencies are now relying more on transaction data and electronic records.
The Chief Executive Officer of Tech Groomers Africa, Mr Blessed Ola, made this known at a workshop organised by Tech Groomers Africa on Thursday with the theme, “MSMEs: Tax Clarity and Digital Compliance.”
He said that digital compliance was becoming the new standard, and tax administration was becoming increasingly digital through electronic invoicing, digital transaction records, automated tax reporting systems and online tax filing platforms.
The overall purpose of the workshop is to inform business owners that Nigeria’s tax system is becoming fully digital, data-driven and compliance-focused.
Tech Groomers Africa is a digital initiative by B.H.A. DIGITAL, committed to tackling youth unemployment and accelerating MSME digital transformation across Africa.
Ola said that businesses must move away from informal operations and adopt proper structures, digital records, invoicing systems and tax compliance practices.
“In the coming years, compliance will be essential not only for avoiding penalties but also for accessing contracts, grants, financing, partnerships, and growth opportunities. Businesses that prepare early will have a significant competitive advantage,” Ola stressed.
He also noted how businesses operating online are also not left out, saying that they must adopt proper invoicing systems, maintain accurate transaction records, use compliant payment and accounting systems.
Ola said businesses must ensure all sales could be traced and verified as the era of informal online selling without proper documentation was gradually ending.
“Early compliance will benefit business owners more as it is easily becoming a business advantage rather than merely a legal obligation.
“Moreover, it’ll strengthen relationship with regulators, reduce risk of penalties, improve trust from customers, investors and partners,” he said.
He explained that the new tax system would affect every business and the rollout of the new tax framework was already underway through stakeholders engagement, pilot phases and gradual implementation.
“No business, regardless of size will be exempt from compliance requirements; even businesses that qualify for tax exemptions must still register and file returns,” he stated.
In his submission, Ola highlighted how proper business structure mattered and buttressed the importance of registering businesses properly, maintaining separate business accounts and keeping accurate financial records.
He said that operating as a structured business rather than informally would make it easier to comply with tax regulations.
Also speaking at the workshop, Mrs Mojisola Sowemimo, a representative from Lagos Internal Revenue Service (LIRS), noted that recording, filing, and payment of taxes was now easier, faster and more convenient.
She said that, with the new tax laws, tax payments are now designed to be simpler and fairer in order to encourage compliance.
Sowemimo noted that accurate record keeping was essential as tax payers needed to maintain proper records of income, expenses, receipts, invoices and bank statements.
She further noted that business expenses could reduce taxable income but only when supported by evidence.
“Proper records help ensure fair tax assessments and prevent dispute with tax authorities, but honesty and evidence are critical as all tax claims must be supported by proof,” she said.
The LIRS official further noted that filing tax returns was mandatory as every income-earning individual and business must file annual tax returns even when claiming exemptions or reporting little or no income.
“Filing is compulsory under the new law and penalties for non-compliance have increased as tax payers now face penalties for late filing of returns, late remittance of deducted taxes and failure to comply with tax regulations,” she added.
The tax reform laws commenced in January 2026, and repeals all existing tax laws and consolidate the legal framework relating to taxation in Nigeria, providing a harmonised system for the taxation of income, individuals, assets, transactions, and instruments. (NAN)
A.I
June 12, 2026
Tags: Tech Groomers Africa