Nigeria New Tax Reform Laws
The Federal Government of Nigeria has published new tax reform laws in the government gazette, which were signed into law by President Bola Tinubu on June 26, 2025. These reforms aim to overhaul the country's fiscal framework, establishing a new foundation for taxation, administration, and revenue collection. Key points include : - Small businesses with a turnover under ₦100m and assets below ₦250m are exempt from corporate tax. - Corporate tax rates for large firms may be reduced from 30% to 25% at the President's discretion. - Top-up tax thresholds are set at ₦50bn for local firms and €750m for multinationals. - A 5% annual tax credit is introduced for eligible priority-sector projects. - Companies transacting in foreign currency can now pay taxes in naira at official exchange rates. The ...