Economy: Nigeria affirms implementation of new 4 Tax Acts commences January, June 2026 + Downloads

*Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, affirms the Federal Government has published the Nigeria Tax Laws 2025 in the official gazette, urging the readiness of the relevant institutions, and private sector players ahead of full implementation next year

Gbenga Kayode | ConsumerConnect

The Federal Government of Nigeria has confirmed the implementation of the first two sets of the four new Tax Reforms Laws will begin January 2026, and while the remaining two Tax Acts will commence June next year.

ConsumerConnect reports Mr. Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, disclosed this development Tuesday, September 9, 2025, in a message via his verified social media account.

Oyedele said that the country’s Tax Reforms laws had been published in the Official Gazette of the Federal Government of Nigeria.

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It is recalled that the Federal Government enacted the new Tax Reforms Laws June 26, 2025. These Acts are downloadable below:

1. Nigeria Tax Act, 2025 (NTA)
2. Nigeria Tax Administration Act, 2025 (NTAA)
3. Nigeria Revenue Service (Establishment) Act, 2025 (NRSEA)
4. Joint Revenue Board (Establishment) Act, 2025 (JRBEA)

According to Oyedele, key highlights of the Nigerian Tax Laws include the following:

𝑯𝒊𝒈𝒉 𝒆𝒙𝒆𝒎𝒑𝒕𝒊𝒐𝒏 𝒕𝒉𝒓𝒆𝒔𝒉𝒐𝒍𝒅 𝒇𝒐𝒓 𝒔𝒎𝒂𝒍𝒍 𝒄𝒐𝒎𝒑𝒂𝒏𝒊𝒆𝒔 – 0 percent tax for a small company, defined under the NTAA as having an annual turnover not exceeding N100 million with total fixed assets less than N250 million.

𝑳𝒐𝒘𝒆𝒓 𝒄𝒐𝒓𝒑𝒐𝒓𝒂𝒕𝒆 𝒕𝒂𝒙 𝒓𝒂𝒕𝒆 𝒇𝒐𝒓 𝒍𝒂𝒓𝒈𝒆 𝒄𝒐𝒎𝒑𝒂𝒏𝒊𝒆𝒔 –Provisions to enable the reduction of tax rate from 30 percent to 25 percent for large companies effective from a date as may be determined in an Order by the President on the advice of the National Economic Council.

𝑯𝒊𝒈𝒉 𝒕𝒉𝒓𝒆𝒔𝒉𝒐𝒍𝒅𝒔 𝒇𝒐𝒓 𝒕𝒐𝒑-𝒖𝒑 𝒕𝒂𝒙 – Exemption threshold of N50 billion revenue for local firms and €750 million equivalents for multinationals.

𝑬𝒄𝒐𝒏𝒐𝒎𝒊𝒄 𝒅𝒆𝒗𝒆𝒍𝒐𝒑𝒎𝒆𝒏𝒕 𝒊𝒏𝒄𝒆𝒏𝒕𝒊𝒗𝒆 – Tax credit at the rate of 5 percent per annum for eligible priority sector investments.

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𝑷𝒂𝒚𝒎𝒆𝒏𝒕 𝒐𝒇 𝒕𝒂𝒙𝒆𝒔 𝒊𝒏 𝑵𝒂𝒊𝒓𝒂 – Option to pay taxes on foreign currency transactions in Naira at the prevailing exchange rate in the official Foreign Exchange (Forex) market.

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee restated the full implementation of NTA and NTAA is fixed for January 1, while the NRSEA and JRBEA have a commencement date of June 26, 2025.

This Oyedele explained this move is to ensure the readiness of the relevant institutions ahead of full implementation of the West African country’s fresh tax instruments next year.