The Federal Government on Wednesday officially published Nigeria’s new tax reform laws in the government gazette, marking a historic overhaul of the country’s fiscal framework.
This was contained in a press statement signed by the Personal Assistant on Special Duties to President Bola Ahmed Tinubu, Kamorudeen Yusuf.
New Telegraph recalls that the reform signed into law by President Tinubu on June 26, 2025, establishes a new foundation for taxation, administration, and revenue collection.
According to the statement, the four legislations are: 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.
The statement added, “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.”
