Nigeria Clarifies NIN is Not Tax ID Amid Tax Reform Confusion
- System Integration: The Federal Inland Revenue Service (FIRS) of Nigeria has integrated with the National Identity Management Commission (NIMC) database, allowing citizens to easily retrieve their tax IDs by entering their National Identification Number (NIN), thereby streamlining tax processes and enhancing system usability.
- Automatic Tax ID Generation: Citizens can automatically generate their tax IDs without additional registration as long as they possess a NIN, which not only reduces the registration burden but also ensures the uniformity of tax information, addressing the previous chaos of separate tax registrations across states.
- Evolution of Digital Infrastructure: The implementation of the new tax system signifies progress in Nigeria's digital infrastructure, as the integration of NIN and tax ID, while maintaining them as distinct identifiers, enhances tax management efficiency and promotes transparency in national revenue collection.
- User-Friendliness: Citizens can simply visit the FIRS website and input their NIN along with basic information to obtain their tax ID, a convenient process that not only improves user experience but may also increase tax compliance rates, thereby boosting national fiscal revenues.
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Technical Analysis for CAT
Technical Sentiment Analysis for Simon's Cat (CAT) As of , Simon's Cat (CAT) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for CAT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, CAT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Simon's Cat (CAT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000064 | 0.00000108 | 0.00000152 | 0.00000196 | 0.0000024 | 0.00000284 | 0.00000327 |
| Fibonacci | 0.00000108 | 0.00000142 | 0.00000163 | 0.00000196 | 0.0000023 | 0.0000025 | 0.00000284 |
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