NRS urges content creators to register businesses for tax relief

The Nigeria Revenue Service (NRS) has called on content creators and other operators in the creative industry to formalise their businesses, obtain tax identification numbers, and maintain proper financial records to access available tax incentives and investment opportunities. Assistant Director Simeon Onyegbula emphasized that registration and accurate record-keeping are essential to accessing applicable tax reliefs, as taxpayers must retain invoices, receipts, ledgers, and other financial documents to substantiate business expenses and determine their actual taxable profits.

Meanwhile, Assistant Director of Tax Kazeem Lawal warned that operating through personal bank accounts without proper records could limit commercial potential, and registration provides businesses with separate legal identities, improves credibility, and enables entrepreneurs to secure corporate contracts, attract investors, and establish sustainable enterprises.

Brief written by urgent.news from Punch's own syndicated text. Machine-written — may contain errors; check the original before relying on it.