AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Invoice the speaking fee and travel costs on separate lines: the 2024 withholding regulations exempt out-of-pocket expenses billed separately from fees, while the fee itself will usually have withholding tax deducted, 10% for a non-resident's professional fee. Agree in the engagement letter whether your fee is gross or net of that tax, which currency you are paid in, the deposit, and the cancellation terms.
Conferences, bank customer events, alumni dinners and church programmes in Nigeria regularly fly in Nigerians who have built careers abroad. The invitation often comes with a fee agreed on a call and a promise that "the team will sort your flight". A short engagement letter and a well-built invoice protect the fee and the relationship.
Before the invoice: the engagement letter
Agree these points in writing, by letter or email, before you book anything:
- Event, date, venue, your session length and any extra duties (panel, workshop, media).
- The fee, its currency, and whether it is gross or net of Nigerian tax.
- Travel class, number of nights, ground transport and visa costs, and whether the organiser books them or reimburses you.
- Deposit before travel and balance due date.
- Cancellation: what you are paid if the event is cancelled, postponed or your slot is dropped after you have travelled.
- Recording and use of your talk, slides and image.
Withholding tax on the fee
Under the Deduction of Tax at Source (Withholding) Regulations 2024, as PwC summarises them, companies and other organisations (not individuals) must deduct tax from payments for services. Professional fees carry 5% for residents and 10% for non-residents. The rate doubles if you have no valid tax number. The organiser should give you a receipt showing your name, tax number, the gross amount and the tax deducted. Rates as at the 2024 regulations; confirm they are unchanged.
A talk delivered in Lagos is a service performed in Nigeria, so even if you are not Nigerian tax resident the fee is Nigerian-source and the deduction is expected. A talk delivered online from abroad is performed abroad; the NiDCOM diaspora guide states that services physically rendered outside Nigeria are not taxable in Nigeria for non-residents, but the organiser's finance team may still deduct, so raise it in advance.
Gross or net
Example only: you want US$5,000 in hand and the deduction is 10%.
| Basis | Invoice amount | WHT at 10% | You receive |
|---|---|---|---|
| Gross (you bear the tax) | US$5,000 | US$500 | US$4,500 |
| Net (organiser grosses up) | US$5,555.56 | US$555.56 | US$5,000 |
The grossed-up figure is US$5,000 ÷ 0.9. Write "fee is net of all Nigerian taxes" in the engagement letter if you want the second outcome.
Travel and expenses
Danol Partners' review of the 2024 regulations lists out-of-pocket expenses billed separately from fees among the exemptions from withholding. If flights and hotels are folded into one "fee", the whole sum may be taxed. Better still, ask the organiser to book and pay flights and hotels directly so nothing passes through your invoice.
What the invoice should show
- Your full name or company name, address and Nigerian Tax ID (see getting a Tax ID from abroad).
- Invoice number and date.
- Organiser's legal name and address, and their purchase order or reference if they use one.
- Line 1: speaking fee for the named event and date.
- Line 2: reimbursable expenses, itemised, with receipts attached.
- Currency, and the basis for any conversion.
- Payment details in the same name as the invoice.
- Due date matching the engagement letter.
For the general list Nigerian finance teams expect, see invoice fields for foreign freelancers.
Who is paying you matters
The withholding rules apply to companies, associations, government bodies and other organisations. If an individual pays you personally, for example a host who books you for a private dinner and pays from a personal account, the regulations do not make that individual a deductor. Churches, alumni associations and professional bodies are organisations, so expect them to deduct. Universities and government agencies pay through their own finance systems and will want the full paperwork before they release anything; for federal bodies, see how public agencies pay.
After the event
- Send the balance invoice the day after the event, while the organiser's budget is still open.
- Ask for the withholding tax receipt at the same time as payment; it is easier to get then than months later.
- Keep the engagement letter, invoice, receipts and bank credit together. Your home tax return will need the gross fee, the Nigerian tax deducted and the expenses reimbursed.
- If payment is late, refer to the due date in the engagement letter and the deposit already paid.
VAT
The Nigeria Tax Act 2025 makes services consumed in Nigeria taxable wherever performed, with non-resident suppliers expected to register and charge VAT and the customer able to withhold and remit it, according to Mondaq's review. The standard rate is 7.5% (PwC). Ask the organiser whether it will self-account; see VAT on services to Nigerian clients.
Where Pryme fits
If the organiser pays in naira, a Pryme account opened from abroad gives you naira account details alongside dollars, pounds and euros, and Swap converts when you choose with the rate and fee shown before you approve. Verifiable receipts through VerifyDoc.ai give the organiser's finance team a document they can check.
Questions people ask
How much tax will a Nigerian organiser deduct from my speaking fee?
Under the 2024 regulations, 10% on a non-resident's professional fee and 5% for residents, doubled without a valid tax number. Confirm the current rate.
Should travel costs be on the same invoice as my fee?
Put them on a separate, itemised line, or have the organiser pay directly. Separately billed out-of-pocket expenses are exempt from withholding under the 2024 regulations.
How do I make sure I receive my full fee?
Agree in writing that the fee is net of Nigerian taxes, so the organiser grosses it up, and get a deposit before you travel.
Do I charge VAT on a talk in Nigeria?
The 2025 Act treats services consumed in Nigeria as taxable; non-resident suppliers are expected to register, and customers may withhold and remit. Ask the organiser how it accounts for it.
Sources
- PwC Nigeria: Highlights of the Deduction of Tax at Source (Withholding) Regulations 2024 · accessed Oct 2026
- Mondaq (Danol Partners): Overview of the Deduction of Tax at Source (Withholding) Regulations 2024 (16 Oct 2024) · accessed Oct 2026
- NiDCOM / NGEX: Diaspora guide to the Nigeria tax reforms 2026 · accessed Oct 2026
- Mondaq: Examination of the VAT provisions under the Nigeria Tax Act 2025 (28 May 2026) · accessed Oct 2026
- PwC Worldwide Tax Summaries: Nigeria, other taxes (reviewed 29 May 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.