Nigeria Launches Committee for 2026 VAT Modification Order

The federal government of Nigeria has inaugurated an Inter-Ministerial Committee tasked with developing the 2026 Value Added Tax (VAT) Modification Order. This initiative, led by the Minister of Finance and Coordinating Minister of the Economy, Mr.

Taiwo Oyedele, aims to ensure the effective implementation of new tax laws. The committee is responsible for recommending a comprehensive schedule of VAT-exempt and zero-rated supplies, considering revenue implications, social impact, Nigeria’s treaty obligations, and regional integration commitments.

Oyedele emphasized that the Tax Reform Acts, effective January 1, 2026, represent significant changes to Nigeria's tax system, aimed at simplifying tax administration and fostering economic growth. He instructed the committee to review existing legal frameworks and engage with stakeholders to ensure practical and balanced recommendations.

The new VAT Modification Order is intended to clarify and update relevant schedules, making compliance easier for taxpayers and providing clearer guidance for tax administrators.