Nigeria is coming for your remote work dollars
Today on Techpoint Digest we discuss how the government will task remote workers, new forms of cross-border payments, and how Jumia is using AI to boost efficiency.
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Hello, <br />
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Chimgozirim here,<br />
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Here’s what I have for you today:<br />
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Nigeria is coming for your remote work dollars<br />
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Another cross-border transaction solution<br />
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Jumia is replacing its workforce with AI<br />
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Nigeria is coming for your remote-work dollars <br />
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Photo by The New York Public Library on Unsplash<br />
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Remote workers are about to be sad. The Presidential Committee on Fiscal Policy and Tax Reforms says the country has now entered agreements with more than one hundred nations, including the US, UK, and Canada, to track residents earning foreign income.<br />
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If you’re freelancing for a company abroad, the government can now know exactly how much you earn without asking you. Under the new system, remote workers will have to declare their foreign earnings, and the government will match those declarations with automated intelligence from global reporting networks.<br />
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Any mismatch between what lands in your Nigerian bank account and what you declare could trigger a presumptive tax assessment. In plain English: they’ll estimate what they think you should be paying.<br />
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For remote workers, it means the tax net just got a lot smarter. For fintech companies handling international inflows, compliance might become tougher.<br />
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Bottom line: If you’re earning abroad while living in Nigeria, this is your cue to tidy up your tax records. Start by getting your tax identification number (TIN).<br />
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Cardri wants to power intra-African trade <br />
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Cardri founders <br />
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“Payments are the backbone of business, especially intra-African trade,” Bolaji Okunade, CEO and Co-founder of Cardri, tells Techpoint Africa.<br />
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He’s not wrong, but moving money across African countries can be challenging, especially when you have to send in your local currency to another region. First, there’s the stress...
