The Federal Government has published Nigeria’s new tax reform laws in the official gazette following President Bola Tinubu’s assent on June 26.
The announcement was contained in a statement signed by the Personal Assistant on Special Duties to the President, Kamorudeen Yusuf, on today.
The reforms introduce four legislations: the Nigeria Tax Act 2025, Nigeria Tax Administration Act 2025, Nigeria Revenue Service (Establishment) Act 2025, and the Joint Revenue Board (Establishment) Act 2025.
The gazette stated, “Small businesses with turnover under ₦100m and assets below ₦250m are exempted from corporate tax.
The Nigeria Tax Act and the Nigeria Tax Administration Act will take effect from January 1, 2026, while the Nigeria Revenue Service Act and the Joint Revenue Board Act became effective from June 26.