FG Reveals 50 Tax Exemptions and Reliefs Under New Laws

The Federal Government of Nigeria has announced a comprehensive list of 50 items that will benefit from tax exemptions and reliefs under the new tax laws starting on January 1, 2026. The exemptions aim to provide relief to low-income earners, average taxpayers, and small businesses.

Some of the key items include exemptions for individuals earning the national minimum wage, annual gross income thresholds, pension contributions, interest on loans for residential housing, and gains from certain investments. The new tax laws also offer relief for small companies meeting specific turnover and asset criteria.

These measures are designed to stimulate economic growth and support various sectors of the economy.