How the Nigerian Tax Reform Saves You More Money
INTRODUCTION This article analyses the key provisions of the Nigeria Tax Act 2025 (the NTA or the new Act) relating to levies, tax incentives, and repeal/savings provisions. 1. One Levy to Replace Many: The 4% Development Levy We can now say goodbye to multiple contributions. The new Act consolidates the Tertiary Education tax, Information Technology […]
Tax Reform 2025: How the current tax administration Reshapes Compliance, Enforcement, and Business Strategy
INTRODUCTION Amongst Nigeria’s tax reform acts are three major administration laws: the Nigeria Tax Administrative Act (NTAA), the Nigeria Revenue Service (Establishment) Act 2025 (NRSA or NRS Act), and the Joint Revenue Board (Establishment) Act (JRB Act). These laws replace older frameworks and establish a more unified, coordinated, and compliance-driven tax structure across federal, state, […]
Frequently Asked Questions on Nigeria’s New Tax Regime: Key Provisions and Innovations Under the 2025 Tax Reform Acts
INTRODUCTION The art of taxation, as Jean-Baptiste Colbert once remarked, consists in so plucking the goose to obtain the largest amount of feathers with the least possible amount of hissing. This timeless observation by Jean-Baptiste Colbert reminds us that effective tax policy must balance revenue generation with minimizing public resistance. We believe that this principle […]
Nigeria Tax Act, 2025: An Outlook of Income and Profit Taxation under the Nigeria Tax Act
Introduction On June 26th, 2025, President Bola-Ahmed Tinubu signed into law a suite of four tax reform statutes, including: a) The Nigeria Tax Act, 2025 (NTA), which repeals and codifies existing tax laws, and amends various fiscal provisions to establish a single comprehensive legal framework for taxation in Nigeria; b) The Nigeria Tax Administration Act, […]
The Taxing Powers of the Government on Value Added Tax (Vat) in Nigeria
INTRODUCTION It is a truism that no government can function properly without revenue. Revenue helps government meet its numerous responsibilities of improving the quality of life of the citizenry. Cost of governance can only be financed through sustainable source of revenue by the government. One of the major ways a government can actualize and sustain […]
What You Must Know About the Deduction of Tax at Source (Withholding) Regulation 2024
The Deduction of Tax at Source (Withholding) Regulation, 2024, was issued by the Federal Ministry of Finance, on July 1, 2024. It stipulates the rules for deducting taxes from payments to taxable persons in specified transactions. This article highlights relevant provisions of the Regulation. 1. Persons Who Must Deduct Tax at Source These entities are […]
