Nigeria is tightening compliance on value-added tax (VAT) and withholding tax (WHT) by shifting from retrospective audits to real-time reporting of business transactions.
The approach gives tax authorities direct visibility into transactions as they occur, reducing reporting gaps and limiting the scope for discretionary assessments.
“The logical evolution for all tax administration is fiscalisation,” said Timothy Siloma, partner, tax reporting and strategy at PwC Nigeria, during a PwC webinar titled Tax Technology and E-invoicing in Nigeria.