Nigeria's Tax Reform Act 2025 to Revolutionize Tax System Starting 2026
Nigeria is set to implement a major tax reform with the Tax Reform Act 2025 starting on January 1, 2026. The reform is designed to modernize the tax administration, broaden the tax base, and increase government revenue by reducing multiple overlapping levies that have long frustrated individuals and businesses.
Key changes include the introduction of digital tax administration, real-time monitoring to curb evasion, coverage of digital assets and cross-border income, simplification of levies, and the merging of small taxes into a single levy. The reform aims to simplify the tax system, encourage compliance, and increase revenue for development purposes.
Plus234Feed summary based on reporting from The Will. Read the original report below.
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