Nigeria Forms Committee for VAT Modification Order 2026
The Federal Government of Nigeria has inaugurated an Inter-Ministerial Committee on the Value Added Tax (VAT) Modification Order 2026, led by Mr. Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy. The inauguration took place at the Federal Ministry of Finance headquarters in Abuja.
The committee's primary task is to draft a framework supporting the implementation of Nigeria's Tax Reform Acts, effective January 1, 2026. Mr. Oyedele described the Tax Reform Acts as the most significant reform of Nigeria's tax system in decades, aimed at simplifying tax laws and enhancing economic growth.
The committee is tasked with reviewing existing VAT frameworks, engaging stakeholders, and drafting the final order, with a strict six-week deadline for submission. The committee comprises representatives from various public and private entities, ensuring a collaborative approach to the VAT reform process.
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