Nigerian Government Plans Tax Exemption Cards for Small Businesses in Ongoing Tax Reform

The Nigerian government, through the Federal Government, is set to introduce tax exemption cards for small businesses across the country as part of its tax reform agenda. Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy Tax Reform, highlighted the need to shield low-income earners from multiple tax burdens.

Oyedele emphasized the importance of reform to protect small businesses and ensure fair taxation, particularly for those with annual turnovers of N12 million or less. The move aims to harmonize tax levies at the state and local government levels to benefit ordinary Nigerians.