FIRS Announces IT System Shutdown for Maintenance Amid Changes in Corporate Tax Laws

The Federal Inland Revenue Service (FIRS) in Nigeria will temporarily shut down its IT systems for maintenance from November 28 to November 30, 2025. This announcement comes alongside clarifications on upcoming changes to corporate income tax obligations for small companies.

Small companies with annual turnover not exceeding N50 million and fixed assets below N250 million will be exempt from paying corporate income tax in 2026. FIRS aims to ensure compliance and accurate reporting, introducing a minimum effective tax rate of 15% for qualifying small companies.

Additionally, new levies will replace existing taxes to support regulatory changes.