NEWS
FG Publishes New Tax Reform Laws in Government Gazette

The Federal Government has officially gazetted Nigeria’s new tax reform laws, marking what is being described as a historic restructuring of the nation’s fiscal framework.
This was disclosed in a statement signed by Kamorudeen Yusuf, Personal Assistant on Special Duties to the President, on Wednesday.
President Bola Tinubu had signed the reform package into law on June 26, 2025, creating a new basis for taxation, administration, and revenue collection. The laws include the Nigeria Tax Act (NTA) 2025, Nigeria Tax Administration Act (NTAA) 2025, Nigeria Revenue Service (Establishment) Act (NRSEA) 2025, and the Joint Revenue Board (Establishment) Act (JRBEA) 2025.
According to the statement, “Small businesses with turnover under ₦100m and assets below ₦250m are exempted from corporate tax. Corporate tax rate for large firms may be cut from 30% to 25% at the President’s discretion. Top-up tax thresholds: ₦50bn (local firms) and €750m (multinationals). 5% annual tax credit introduced for eligible priority-sector projects. Companies transacting in foreign currency may now pay taxes in naira at official exchange rates.”
The government further clarified that the Nigeria Tax Act and Tax Administration Act will take effect from January 1, 2026, while the Revenue Service and Joint Revenue Board laws became effective immediately from June 26, 2025.
“These reforms aim to simplify Nigeria’s tax system, support small businesses, attract investment, and strengthen fiscal stability, aligning with President Tinubu’s Renewed Hope Agenda to diversify revenue away from oil,” the statement added.
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