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2 clusters · 12 sources · 17 days · First seen · Last updated

Nigeria tax reform and administration updates

Overview

Nigeria is undergoing fiscal reforms driven by the Nigeria Tax Act and the Nigeria Tax Administration Act to simplify the tax landscape and support economic growth. These reforms include exempting companies with annual revenues below N100 million from company income tax, VAT, withholding tax, Capital Gains Tax, and a new Development Levy.

Finance Minister Taiwo Oyedele has advocated for consolidating approximately 70 tax heads into 10 to ease compliance. Other objectives include reducing the corporate tax rate from 30 percent to 25 percent and allowing sectors like education to claim VAT refunds. While revenue collection reached N21.6 trillion in the first half of 2026, challenges persist regarding the elimination of multiple taxes and levies.

To support these changes, the Nigeria Revenue Service (NRS) is focusing on modernizing administration through digital solutions such as the Rev360 initiative and e-invoicing. NRS leadership has emphasized creating a transparent and predictable system through improved taxpayer education and digital registration, filing, and payment processes.

Entities

Zacch Adedeji · Nigeria Revenue Service · Nigeria · Bola Tinubu · Taiwo Oyedele

Timeline

  1. 1 day ago

    [BUSINESS] 3 sources
    Nigeria Revenue Service implements tax reforms to support businesses

    The Nigeria Revenue Service is launching tax reforms, including the Rev360 initiative and e-invoicing, to simplify compliance and support business growth through digital solutions and better taxpayer engagement

  2. 18 days ago

    [BUSINESS] 8 sources
    Nigeria tax reforms exempt companies earning under N100m from income tax

    Nigeria's new tax reforms exempt companies earning under N100 million annually from income tax, VAT, and withholding tax to support small businesses and economic growth.

Sources

arise.tv · blueprint.ng · businessday.ng · dmarketforces.com · newtelegraphng.com · nigerianobservernews.com · oilandgastrendsmagazine.com · phenomenal.com.ng · realnewsmagazine.net · thecitizenng.com · thisdaylive.com · von.gov.ng