Nigeria Tax Administration Act, 2025 · s.31
Keeping books — and keeping them six years
Everyone keeps books, in English, good enough to work the tax out — and keeps them for at least six years.
Who this lands on: Every person and company, whether or not tax is payable.
You must maintain books or records of account with enough detail on every relevant transaction to establish what tax is due.
They must be in English and in the format the tax authority prescribes. If you keep them in another language, you produce a translation at your own cost when asked.
Records must be kept for at least six years after the year of assessment the income relates to.
This is the quiet one. Most businesses are not caught out by a rate — they are caught out by not being able to show where a number came from.