Nigeria Implements New Tax Reform Laws for Fiscal Overhaul
The Nigerian Federal Government has gazetted new tax reform laws signed by President Bola Tinubu, bringing significant fiscal changes. The reform covers key legislation including the Nigeria Tax Act 2025, Nigeria Tax Administration Act 2025, Nigeria Revenue Service Establishment Act 2025, and Joint Revenue Board Establishment Act 2025.
Highlights of the reform include tax exemptions for small businesses, potential corporate tax rate cuts, and the introduction of a 5% annual tax credit for eligible projects. The new laws also specify tax thresholds and regulations for local and multinational companies.
The Nigeria Tax Act and Tax Administration Act will take effect from January 1, 2026, while the Revenue Service and Joint Revenue Board Acts are operational immediately.
Plus234Feed summary based on reporting from Politics Nigeria. Read the original report below.
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