The new tax reform has been signed and will be implemented starting in the 2026 fiscal year. The new tax law has earmarked N800,000 as the cut-off annual income threshold below which the Nigerian Revenue Service and State Inland Revenue Services will charge no personal income tax. For corporates, a turnover figure of N100 million…
Taiwo Oyedele, chairman of the presidential fiscal policy and tax reforms committee, says every Nigerian who earns an income has a responsibility to declare it. On June 26, President Bola Tinubu signed the four tax reform bills into law, and they are expected to take effect on January 1, 2026. Answering questions during an interactive…
President Bola Tinubu’s tax czar, Taiwo Oyedele, says all Nigerians, including ladies engaging in prostitution popularly called “runs,” and people engaging in illegal transactions are mandated to pay tax per the new tax reforms set to be enforced in January 2026. In the eyes of the new tax law, Mr Oyedele explained, there are no…
The Federal Government has officially gazetted Nigeria’s new tax reform laws following President Bola Tinubu’s assent to the legislations on June 26, 2025. A statement signed by the Personal Assistant on Special Duties to the President, Kamorudeen Yusuf, on Wednesday, confirmed the publication of the four legislations: the Nigeria Tax Act 2025, Nigeria Tax Administration…
Taiwo Oyedele, the Chairperson of Nigeria’s Presidential Fiscal Policy and Tax Reforms Committee, says he was forced to flee his home and now lives under police protection after receiving death threats for leading efforts to reduce tax-related extortion in Nigeria. The threats followed his public comments about stopping more than 60 government agencies from collecting…
President Bola Tinubu on Thursday signed into law four tax reform bills on key areas of Nigeria’s fiscal and revenue framework. The bills passed by the National Assembly were signed during a ceremony held at the Aso Rock Presidential Villa, Abuja. The government has announced that the implementation of the new tax laws will commence…
President Bola Tinubu has on Thursday signed the four tax reform bills recently passed by the National Assembly into law. Tinubu gave the presidential assent to the bills during a short ceremony at the Presidential Villa, attended by the leadership of the National Assembly and some legislators, governors, ministers, and aides of the President. The…
President Bola Tinubu will, on Thursday, sign into law four tax reform bills that will “transform Nigeria’s fiscal and revenue framework,” the Presidency has revealed. Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a statement he signed Wednesday evening titled, ‘President Tinubu signs four tax bills into law tomorrow.’…
The four tax reform bills submitted by President Bola Ahmed Tinubu in October 2024 are now ready for presidential assent following the harmonisation of the versions of the bills passed by both chambers of the National Assembly. At plenary on Wednesday, the House of Representatives considered the report of the conference committee, which harmonised the…
The Senate has passed two out of four major tax reform bills proposed by President Bola Tinubu. However, the upper chamber rejected a proposal to increase the value-added tax (VAT) to 10 percent, opting to retain the current rate at 7.5 percent. The bill allows VAT input claims on fixed assets, overhead costs and administrative…