FG Publishes Tax Reform Laws

The Federal Government has officially published Nigeria’s new tax reform laws in the government gazette, marking a historic overhaul of the country’s fiscal framework.

Personal Assistant on Special Duties to the President, Kamorudeen Yusuf revealed this in a statement on Wednesday.

President Bola Ahmed Tinubu had on June 26, 2025, signed into law,  the reforms establish a new foundation for taxation, administration, and revenue collection.

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.

“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.”